This week in crypto saw Bitcoin face renewed selling pressure, Solana complete a major network upgrade, and Ethereum postpone an important testnet update. Meanwhile, institutional investment products and blockchain-based banking services continued to evolve.

October 19-25, 2026

Bitcoin Faces Pressure as ETF Outflows Return

Bitcoin traded around $81,500 on October 23 as broader financial markets weakened. U.S. spot Bitcoin ETFs recorded approximately $635.6 million in net outflows on October 22, reversing the previous day's gains.

Despite the withdrawals, institutional interest remains significant, with investors closely watching economic uncertainty and the upcoming Federal Reserve interest rate decision.

Solana Activates Major Alpenglow Upgrade

Solana successfully activated its Alpenglow consensus upgrade on October 21, replacing the network's previous voting system.

The upgrade targets transaction finality of approximately 150 milliseconds, compared with roughly 12.8 seconds previously. This could significantly improve the network's performance for payments, trading, and decentralized applications.

Ethereum Postpones Glamsterdam Testnet Upgrade

Ethereum developers officially postponed the Glamsterdam network upgrade scheduled for October 26 on the Hoodi testnet.

The delay allows developers to investigate how proposed gas-accounting changes under EIP-8037 could affect existing mainnet smart contracts. A new testnet activation date has not yet been announced.

BlackRock Files for Bitcoin ETF With Downside Protection

BlackRock submitted an application for the iShares Bitcoin Managed Protect ETF on October 19.

The proposed fund aims to provide exposure to Bitcoin's potential price gains while offering a degree of downside protection, although gains would be capped. The filing highlights growing interest in cryptocurrency investment products designed for different risk profiles.

SoFi Introduces Interest-Bearing Tokenized Deposits

Financial technology company SoFi announced SoFi Earn on October 22, introducing tokenized bank deposits offering a 4.40% annual percentage yield.

The deposits qualify for FDIC insurance within applicable limits and can be converted into SoFiUSD for cryptocurrency purchases or blockchain transfers. The launch represents another step toward connecting traditional banking services with digital assets.

Looking Ahead

Crypto markets enter the final week of October with several important developments to watch. The Federal Reserve's October 28 interest rate decision could influence market sentiment, while Ethereum's revised upgrade schedule and Solana's post-upgrade performance will remain important topics.

Despite short-term volatility, continued institutional activity and blockchain infrastructure improvements show that the industry is developing beyond cryptocurrency price movements.