Switzerland’s financial market regulator approved the country’s first spot bitcoin exchange-traded fund for retail investors, a regulatory step that fills a long-standing gap in the country’s retail channel. The regulator pointed to continued growth in crypto-asset allocation demand and said several fund providers have filed bitcoin ETF applications. Reporting indicates the approved product carries investor safeguards.
Reuters reported exclusively that ByteDance, Alibaba and Tencent have placed Nvidia chip orders worth more than $35 billion, covering roughly three million workstation-class graphics processors that fall within permitted export-control categories. Reporting indicates only about one tenth may be immediately deliverable, meaning even compliant demand is constrained by capacity allocation and quota policy. Barron’s noted that even large-purchase speculation failed to lift Nvidia’s share price.
The UK government issued an operational update on October 20 confirming it will deploy Royal Air Force fighter jets for defensive air patrols over Saudi cities, in response to drone and missile threats from the direction of Yemen. The defence ministry said the mission will not involve offensive strikes. The move follows UK aerial-refuelling support announced in September and a low-cost anti-drone deployment in May, further institutionalising a European military presence in the Gulf.
On October 20 a US food-importing company filed suit seeking to block 50% tariffs imposed on a range of Canadian goods. The levies rely on Section 338 of the Tariff Act of 1930, a presidential authority dormant for close to a century and invoked for the first time in July. After the Supreme Court limited a different tariff authority, the administration shifted to older powers facing less judicial scrutiny, raising questions about predictability of trade policy.
Voters in Alberta voted to reject a move toward independence in a referendum, backing continued membership in Canada. Alberta holds the world’s fourth-largest oil reserves, and the outcome closes a significant chapter in the province’s long-running dispute with the federal government over energy policy.
BlackRock’s spot bitcoin exchange-traded product saw roughly $665 million of net inflows in a single session, the highest since October 2025. Analysts suggested investors may be positioning for a potential catch-up trade in bitcoin.
Copper is up 15.8% year to date and more than 30% over the past 12 months, while gold futures are down 4.11% and 4.52% respectively over the same periods. Investors attribute the shift to AI, grid and defence demand, tight supply and US tariff-driven stockpiling.
French Prime Minister Sebastien Lecornu said on October 20 that curfews had made the night calmer, with restrictions remaining in some areas. Unrest followed mass demonstrations at the weekend, while President Macron drew criticism for a three-day Middle East tour.
Users of the British digital bank Revolut reported being unable to complete some payments or access funds in its app on October 20, with thousands reporting issues across multiple services.
The UK chancellor rejected Labour calls to align capital gains tax with income tax rates, with critics warning such a move could drive wealthy individuals out of Britain. Chancellor John Healey will set out his tax plans in the Budget on October 28.