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Trading 212 revenue rose 70% to £345.8 million in 2025

Trading 212 Group reported revenue of £345.8 million and pre-tax profit of £127.7 million for 2025, more than double the prior year’s £59.6 million. The accounts restated 2024 revenue to £204.0 million after a change in how net interest on client cash is presented; trading revenue accounted for £325.8 million in 2025. The UK business generated £277.6 million, while operations outside the UK contributed about £68 million.

What changed The accounting change raised the 2024 revenue comparison from £194.1 million to £204.0 million without changing that year’s profit. Readers should therefore use the restated base when assessing growth.

Why it matters The international footprint has not yet removed Trading 212’s dependence on UK activity: approximately four-fifths of group revenue still comes from its UK business.

Trade Nation acquires FXCM’s UK client book

Trade Nation has agreed to buy FXCM’s UK client book for an undisclosed sum, with the transfer expected to be completed in late November 2026. The acquired business consists mainly of retail traders, alongside a smaller professional-client segment that Trade Nation says has high expected value. The wider sale of FXCM’s parent, Stratos Group International, remains unresolved, and the report says AvaTrade may be among potential bidders.

Why it matters For Trade Nation, the acquisition’s value is not simply the number of accounts: management says the small professional-client cohort contributes disproportionately to revenue and fits its existing offering.

What to watch next The client transfer is expected in late November 2026, following a transition plan agreed by both firms; completion is not yet confirmed.

Saxo study finds 79% of finance firms launch digital wealth products before capabilities are ready

A Saxo-commissioned survey of 332 industry decision-makers found that 79% said firms launch digital wealth or brokerage offerings before all supporting capabilities are ready, while only 28% described their capabilities as advanced and fully digital. Sixty-five percent said they currently combine internal and external capabilities, and half prefer a hybrid model with one outsourced provider over the longer term. The study also found an average core technology stack age of 6.7 years; Saxo supplies financial infrastructure, giving it a commercial interest in the findings.

Why it matters For banks and brokers, incomplete capabilities translate into delivery constraints: respondents’ onboarding and AI investment projects already take longer than they consider acceptable, limiting room to respond quickly to competitors.

CFTC staff clear path for converting broad stock-index futures into perpetual contracts

The CFTC’s Division of Market Oversight issued no-action relief allowing designated contract markets to remove expiration dates from futures on broad-based security indexes, subject to specified conditions. Before a conversion, exchanges must consult traders with open positions, give at least five calendar days’ notice and allow them to close out under the existing terms. The relief does not cover single-stock or ETF perpetuals, and the letter binds the division rather than the full Commission.

What changed Coinbase’s long-dated structure reflected uncertainty over US classification; staff relief now provides a route to remove expiration dates rather than merely place them far in the future.

Why it matters Existing futures holders face more than an administrative amendment: removing expiry can redistribute gains and losses through repricing, making consultation and the opportunity to exit under old terms important safeguards.

What to watch next Applications for perpetuals on individual stocks and ETFs remain pending in the report. Whether those products receive approval is a separate unresolved question.

BitMine adds 15,112 ETH, bringing treasury to 6.02 million tokens

BitMine said it acquired 15,112 ETH in the week through October 4, taking its reported holdings to 6,016,414 ETH, which it valued at about $16.4 billion using a reference price of $2,726. The company says it holds roughly 4.9% of Ethereum’s supply and needs about 89,000 more ETH to reach its stated 5% target. It also reported 5,067,309 ETH staked and projected annualized staking revenue of about $363 million, a figure the report notes depends on ETH prices and staking yields.

What changed Weekly purchases fell from 17,362 ETH to 15,112 ETH, a second consecutive slowdown, even as the company maintained its uninterrupted buying streak.

Why it matters Staking gives BitMine a revenue-producing use for its treasury, but the projected income is not a fixed cash return: both ETH prices and staking yields affect what the company can earn.

What to watch next Reaching the stated 5% ownership target remains an open milestone. At the supply level cited in the report, BitMine needs approximately 89,000 additional ETH; no completion date is given.

U.S. crypto ETFs record $117.9 million in combined outflows

Bitcoin, Ether and Solana ETFs collectively saw about $117.9 million in net withdrawals on October 5, reversing some recent inflows. Bitcoin funds lost $89.8 million, Ether products $18.9 million and Solana funds $9.2 million; BlackRock’s Bitcoin fund recorded $69.9 million in inflows, which did not offset withdrawals at Fidelity and ARK 21Shares. The report says Ether ETFs had a fifth consecutive day of outflows, while Bitcoin funds remained positive for October overall after strong inflows on October 1 and 2.

What changed Bitcoin funds moved from two positive sessions on October 1 and 2 to withdrawals on October 5, but the reversal did not erase their month-to-date net inflows.

Why it matters The Bitcoin outflow was not uniform across issuers: Fidelity and ARK lost assets while BlackRock attracted money. For fund managers, the aggregate decline therefore masks materially different fundraising outcomes.