（原标题：但斌出手，减仓英伟达！） 【导读】东方港湾海外基金二季度末美股持仓曝光 中国基金报记者 吴君 英伟达仍是第一大重仓股 加仓Alphabet、特斯拉等 根据东方港湾更新后的13F报告，截至二季度末，Oriental Harbor Investment Fund的美股持仓标的有13 只，合计持仓总市值为11.27亿美元，较一季度末的8.68亿美元明显增长。 其前十大重仓标的的集中度较高，包括英伟达、谷歌母公司Alphabet、脸书母公司Meta、微软、亚马 逊、苹果公司、特斯拉、奈飞公司等。从中可以看到，但斌仍然非常看好人工智能产业链。 具体来看，东方港湾海外基金二季度末持有AI算力龙头英伟达126.77万股，较一季度末明显减少；期末 持股市值超2亿美元，仍然是其第一大重仓股。 英伟达今年4月以来股价反弹强劲，并且不断创出历史新高。该股二季度涨幅为45.78%，三季度以来上 涨11%左右。截至7月29日，最新股价涨至176美元/股附近，总市值约为4.3万亿美元，是全球市值第一 的公司。 东方港湾海外基金二季度加仓了谷歌母公司Alphabet，持股增至92.15万股；期末持股市值为1.63亿美 元，为其第 ...

Investment Rating - Investment rating: None [4] Core Insights - The report highlights the U.S. Department of Energy's (DOE) pilot program aimed at accelerating advanced nuclear reactor development and strengthening the domestic nuclear fuel supply chain. This initiative is part of a broader strategy to reduce reliance on imported enriched uranium and key materials, fostering a domestic nuclear fuel industry [4][16] - The report emphasizes that the U.S. is accelerating the self-sufficiency layout of critical resources, with nuclear fuel being a vital component of national energy security. The transition from heavy reliance on imports to rebuilding a domestic system is underway, supported by a comprehensive mechanism from policy guidance to financial support [4][16] - The report notes significant market movements, particularly in the uranium sector, with top-performing companies experiencing substantial gains, reflecting heightened market focus on energy and critical resources [4][9] Summary by Sections 1. Overseas AI - The report indicates that Hong Kong and U.S. tech stocks saw an increase, with the Hang Seng Tech Index rising by 5.5% and the Philadelphia Semiconductor Index increasing by 0.6% during the week of July 14 to July 18, 2025 [7][8] - The uranium sector experienced a notable surge, with top companies like ENERGY FUELS and ASP ISOTOPES seeing increases of 42% and 39% respectively, indicating strong market interest in energy self-sufficiency [9][14] 2. Web3 and Cryptocurrency Market - The global cryptocurrency market capitalization rose to $3.86 trillion as of July 18, 2025, up from $3.61 trillion the previous week, indicating a positive market trend [18][22] - The report highlights that the core assets in the cryptocurrency market saw a net inflow of $2.386 billion during the week, reflecting strong investor interest [28] - Key legislative developments in the U.S. regarding cryptocurrency, including the passage of the GENIUS Act, have bolstered market expectations, contributing to a rise in core asset prices [32][32]

Core Insights - Korean investors show a strong preference for overseas markets, with China ranking as the second most favored market after the United States as of July 17, 2025 [1][14] - The total trading volume of Chinese stocks by Korean investors reached approximately $5.514 billion, second only to the U.S. market's $32.244 billion [14] Group 1: Investment Trends - Korean investors are particularly enthusiastic about Hong Kong stocks, with Xiaomi Group-W being the most held stock as of July 18, 2025 [2][3] - The total amount available for stock purchases by Korean investors reached 66.7 trillion KRW, indicating potential for further investment [2][18] Group 2: Net Buying Rankings - Over the past year, the top ten net bought Hong Kong stocks by Korean investors included Xiaomi Group-W ($160 million), BYD Company ($62.44 million), and CATL ($60.85 million) [3][4] - In the past month, the leading net bought stocks were Old Peking Gold ($2.94 million), followed by Sanhua Intelligent Controls ($2.09 million) and Xiaomi Group-W ($1.99 million) [4][5] Group 3: Recent Weekly Trends - From July 11 to July 18, 2025, Alibaba-W topped the net buying list among Korean investors with a net purchase of $13.38 million [7][8] Group 4: Market Capitalization - As of July 18, 2025, the top ten stocks held by Korean investors by market value included Xiaomi Group-W ($251 million), Tencent Holdings ($217 million), and Alibaba-W ($176 million) [9][10] Group 5: Market Sentiment and Leverage - The KOSPI index has increased by 32.89% this year, driven by improved corporate governance and optimistic market sentiment [18] - The amount of margin loans outstanding reached 21.6 trillion KRW, indicating a high level of leverage among retail investors [18]

Summary of Key Points from the Conference Call Industry Overview - The stablecoin trading volume in 2023 has approached that of traditional payment platforms, with a total trading volume of $35.5 trillion over the past 12 months, and $7.4 trillion when excluding high-frequency trading, significantly surpassing PayPal's $1.68 trillion and nearing Mastercard's $9.8 trillion, indicating its substantial potential in payment settlements [1][3] Core Insights and Arguments - Global stablecoin regulation is diverging, with the U.S. favoring strict regulations to reinforce the dollar's dominance, requiring stablecoin reserves to be held at a 1:1 ratio in U.S. dollar deposits or short-term U.S. Treasury securities, while Hong Kong adopts a more open regulatory approach, allowing the issuance of stablecoins backed by HKD or other currencies [1][6] - Hong Kong is actively promoting the synergy between stablecoins and Real World Assets (RWA), particularly in cross-border payments, where stablecoins can significantly reduce costs to less than $1 per transaction, compared to the global average of 6% for cross-border remittances, thus providing an efficient and low-cost solution [1][7] - The total market size of RWA has exceeded $23 billion, with platforms like Propety facilitating over $4 billion in real estate transactions, and Center Fusion converting receivables into tradable tokens [1][10] - The rise of RWA is driven by the need to address trust and efficiency issues in traditional asset transactions, utilizing reliable data and computation to enable real-time asset status updates and automated execution of returns [2][9] Regulatory Developments - The global regulatory landscape for stablecoins is evolving, with the U.S. pushing for legislation that mandates a 1:1 reserve ratio for stablecoin issuance, while Hong Kong's new regulations, effective August 1, 2025, allow for the issuance of stablecoins backed by various currencies with high reserve standards [6][12] Opportunities and Applications - The development of stablecoins and RWA presents opportunities for issuers, virtual asset trading platforms, and infrastructure service providers. Companies like Circle Internet may see revenue growth through expanded business lines and compliance services, while platforms like Coinbase Global will benefit from increased market scale and profitability [4][16] - Stablecoins are primarily used for currency trading and decentralized finance but are also expanding into payments, transfers, and liquidity management [5] Hong Kong's Initiatives - Hong Kong has been proactive in the digital asset space, launching the "Digital Asset Development Policy Declaration 2.0" and implementing the "Stablecoin Ordinance" to attract institutional participation in HKD stablecoin projects [4][12] - The government is also exploring the issuance of tokenized government bonds and encouraging innovative applications, such as tokenizing traditional financial products and enhancing liquidity in the digital currency ecosystem [13][14] Recent Progress - As of April 2024, three fund companies have launched spot Bitcoin and Ethereum ETFs on the Hong Kong Stock Exchange, showcasing significant advancements in RWA development [15] Conclusion - The interplay between stablecoins and RWA is set to create substantial opportunities in the financial landscape, with potential benefits for various stakeholders involved in the ecosystem [11][16]

🚨 JUST IN: Cathie Wood’s ARK Invest sells 124,892 of its Coinbase shares worth $43.8M on June 30. https://t.co/J5tknivW5p ...

Ark Invest sells $43.8 million worth of Coinbase shares as stock trades near all-time high https://t.co/OB6wn7GLsB ...

Regulatory Landscape - The Supreme Court declined to hear a case regarding crypto exchanges' compliance with government data requests [1] - This decision maintains the status quo for crypto exchanges like Coinbase regarding customer data requests [1] Industry Impact - The decision impacts the regulatory obligations of crypto exchanges concerning user data [1] - The case could have potentially redefined the scope of government access to customer data held by crypto exchanges [1]

RT based16z (@based16z)Reading between the lines on the coinbase and robinhood announcements it seems extremely likely perpetual futures will become legal in the united states ...

Tana, uh, Coinbase, bring us up to date. Yeah, Mike, up more than 40% in June for its best month since November. Third monthly gain in a row and first three-month rally since 2023.Not just the best performing S&P stock this month, it's also the only S&P stock to double quarter to date. Some clear themes driving the gains, including the Senate's passage of the Genius Act and Circle's successful IPO. Also, of course, it's very inclusion in the S&P 500 in late May.So, quite the debut here. Uh, this is also hap ...

Robinhood and Coinbase are trying to eat Binance & Hyperliquid's lunch.A cutthroat war has begun. Buckle up. ...