Institutional & Industry · 07 Oct · 8 min read
What Zero-Commission Trading Really Changed
In October 2019, Schwab, TD Ameritrade and E*Trade cut stock commissions to zero within days. How brokers replaced the revenue and what it changed.
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Since January 2024, US spot bitcoin ETFs have gathered about 6% of all bitcoin. Who holds them, why custody is concentrated and what it means for the market.
How 24/7 Trading Is Changing Market Structure
Crypto never closes, and US stock exchanges are moving to 23-hour days. What longer hours change for liquidity, prices and risk, and what is unresolved.