Key Points Bitwise submitted registration documents yesterday to launch a new spot ETF tracking the price of Sui. This application adds to the existing proposals on the SEC's desk, with two other prospective funds awaiting approval. Capital flows matter a great deal in the digital assets space, so increased fervor from institutional players could be a big upside catalyst for Sui over the long-term. 10 stocks we like better than Sui › With many investors now viewing certain key developments this ...

With an any-minute-now confirmation of Mike Selig to take over the U.S. Commodity Futures Trading Commission, its stand-in chief, Caroline Pham, is closer to her longstanding plan to jump to crypto firm MoonPay. As CoinDesk reported last month, Pham was said to be planning to take on the role of chief legal officer and chief administrative officer at the company, a financial technology company focused on crypto, which just obtained a New York trust charter last month. It's a path further confirmed by the ...

Core Viewpoint - Asia Broadband Inc. is preparing to release a corporate update in January 2026, detailing the status and expectations of its mining and digital/cryptocurrency projects for the upcoming year [1] Group 1: Corporate Update - The corporate update will provide clarity on timelines and expectations for all AABB's mining and digital/cryptocurrency projects for 2026 [1] - The update is scheduled to be released after the holiday period and New Year's operations [1] Group 2: Company Overview - Asia Broadband Inc. focuses on the production of precious metals and the accumulation of physical gold and silver holdings, leveraging its geographic expertise and industry contacts in Mexico [3] - The company differentiates itself through its unique strengths in industry integration and asset diversification, creating distinctive value for shareholders [3] - AABB has a digital assets segment, including a gold-backed cryptocurrency and NFT collections, aiming to establish its token as a stable and trusted standard of exchange [3]

Core Viewpoint - HashKey Holdings, a cryptocurrency exchange, made its market debut in Hong Kong, raising $206 million through its IPO, despite experiencing volatility in its share price shortly after listing [9]. Company Overview - HashKey, founded in 2018, provides services such as asset management, brokerage, and tokenization, and operates the largest licensed crypto exchange in Asia [9]. - The company plans to focus on cash flow rather than profitability in the near term, continuing to invest as the industry grows [7]. IPO Details - HashKey's IPO was the first by a crypto company in Hong Kong, with demand for the institutional tranche reaching 5.5 times the amount of stock offered, while the retail tranche was nearly 394 times oversubscribed [9]. - The shares initially climbed 6.6% on debut but later fell slightly below the IPO price of HK$6.68 [9]. Market Context - The cryptocurrency market has seen significant volatility, with Bitcoin dropping as much as 36% after reaching an all-time high of over $126,000 in early October [4]. - Despite regulatory challenges in mainland China, Hong Kong has embraced digital assets, positioning itself as a leading financial hub [5][6]. Future Plans - HashKey intends to invest IPO proceeds in technology infrastructure, market expansion, partnerships, and operational and risk management [8]. - The Hong Kong stock exchange is expected to have its best year since 2021, with over $34 billion raised from new listings so far [8].

By Kane Wu, Scott Murdoch and Donny Kwok HONG KONG, Dec 17 (Reuters) - Cryptocurrency exchange HashKey Holdings Ltd made a flat debut in Hong Kong on Wednesday amid recent weakness in digital assets, but its management ​said it remains confident about the sector's long-term prospects. HashKey shares closed at HK$6.67, down 0.15% from the offer ‌price of HK$6.68. The stock rose as much as 6.6% to HK$7.12 before sliding 8.4% to an intraday low of HK$6.12. That compared with a ‌0.9% gain in the benchmark Ha ...

Core Insights - Hashkey Holdings' shares remained flat in Hong Kong trading after its IPO, reflecting the city's ongoing embrace of digital assets since 2022 to maintain its status as a global financial center [1][3] Company Overview - Hashkey, founded in 2018, operates the largest Hong Kong-licensed crypto exchange, facilitating a trading volume of 1.7 trillion Hong Kong dollars ($218 billion) as of September 30, 2025 [2] - The company generated 283 million Hong Kong dollars ($36 million) in revenue for the first half of 2025, marking a 26% year-on-year decline [2] IPO Details - Hashkey raised 1.6 billion Hong Kong dollars ($206 million) in its IPO, as reported by Bloomberg and Reuters [3] Regulatory Environment - Hong Kong has established a clear regulatory framework for digital assets, positioning itself as a strategic gateway between Eastern and Western markets [4] - The city has implemented a licensing scheme for stablecoins, attracting interest from crypto companies and investors due to the stability of the Hong Kong dollar [4] - The market regulator is considering allowing local exchanges to connect with global platforms, enabling cross-border trading for Hong Kong-based customers [4] Market Dynamics - The stablecoin ordinance provides the certainty required by institutional capital, transforming Hong Kong's crypto sector into a predictable and compliant environment for serious investors [5] - Hong Kong's approach to cryptocurrencies contrasts sharply with mainland China's ban on digital currency trading, highlighting the city's unique governance system that allows for separate policies [5]

Core Insights - Interactive Brokers (IBKR) is expanding its product suite by allowing retail investors to fund brokerage accounts using stablecoins, reflecting the integration of digital assets into mainstream finance [1][8] Group 1: Product Expansion - The introduction of stablecoin funding provides clients with an alternative to traditional bank transfers, enabling direct deposits from cryptocurrency wallets, which can facilitate faster access to capital for crypto traders [2][8] - IBKR emphasizes that stablecoins will only serve as a funding mechanism, with balances converted to fiat currency for trading, ensuring that existing trading and settlement processes remain unchanged [2][8] - The rollout of stablecoin funding aligns with IBKR's broader strategy to expand its product offerings and reach new markets, indicating a shift in the perception of stablecoins from niche instruments to operational tools [3][8] Group 2: Financial Performance - IBKR serves over 4.1 million customer accounts and manages more than $750 billion in client equity, demonstrating its significant market presence [4] - The company has achieved a compound annual growth rate of 21.8% in total net revenues over the past five years (2019-2024), with continued growth observed in the first nine months of 2025 [4] - The Zacks Consensus Estimate projects IBKR's revenues to reach $5.94 billion in 2025 and $6.27 billion in 2026, reflecting year-over-year growth of 13.7% and 5.7%, respectively [5][6] Group 3: Competitive Landscape - IBKR's competitors, such as TradeWeb Markets Inc. and Robinhood Markets, are also innovating their product offerings to enhance market share, indicating a competitive environment in the brokerage industry [12][13] - TradeWeb has introduced electronic portfolio trading for European government bonds, while Robinhood has launched various products, including an AI assistant and tokenized U.S. stocks, to accelerate growth [12][14] Group 4: Technological Advancements - IBKR is focusing on developing proprietary software to automate broker-dealer functions, which has contributed to steady revenue improvements [4] - Recent product launches include zero-commission U.S. stock trading in Singapore and the introduction of the Karta Visa card, which allows global purchases linked to IBKR accounts [9][10]

Core Insights - Visa Inc. has launched a global Stablecoins Advisory Practice to assist banks, fintechs, merchants, and other businesses in navigating the stablecoin market [1][9] - The global stablecoin market has exceeded a capitalization of $250 billion, with Visa's stablecoin settlement volume reaching an annualized run rate of $3.5 billion as of November 30 [2][9] - This initiative indicates that traditional financial institutions are recognizing the importance of digital assets, with Visa positioning itself as a trusted guide in this evolving landscape [3][4] Visa's Strategic Positioning - The advisory practice aims to deepen client relationships, unlock new consulting revenues, and promote the adoption of stablecoin-linked services [4] - By assisting partners in developing stablecoin strategies, Visa enhances its role at the intersection of regulated finance and digital asset innovation [4] Competitive Landscape - Competitors such as Mastercard and American Express are also expanding their presence in the stablecoin sector, with Mastercard offering full-stack support for stablecoin payments and American Express collaborating with Coinbase for a crypto-linked credit card [5][6] Financial Performance and Valuation - Visa's shares have increased by 9.8% over the past year, outperforming the broader industry but lagging behind the S&P 500 Index [7] - The company trades at a forward price-to-earnings ratio of 26.35, above the industry average of 21 [11] - The Zacks Consensus Estimate predicts an 11.7% rise in Visa's fiscal 2026 earnings year over year, followed by a 13.2% growth in the subsequent year [13]

Core Insights - Bank of America (BofA) share price reached $55 on December 12, 2025, marking the highest level since November 2006, with an increase of 27% in 2025 and eight consecutive months of stock price growth [1] - In Q3 2025, BofA reported a 43% increase in investment banking fees, indicating strong performance in revenue generation from investment banking transactions [2] - The bank is expected to report Q4 earnings on January 14, 2026, with CEO Brian Moynihan projecting a potential 10% rise in market business revenue [4] Financial Performance - BofA achieved a net gain of $8.5 billion in Q3 2025, which is a 23% increase compared to Q3 2024 [8] - The Federal Reserve's recent decision to lower the benchmark interest rate by 0.25 percentage points may positively impact BofA's share prices and demand for bank products [5] Strategic Initiatives - BofA is set to launch Bitcoin exchange-traded funds (ETFs) on January 4, 2026, aimed at wealth management clients, encouraging a modest allocation of 1% to 4% in digital assets [6] - The bank is promoting diversification into digital assets, with specific ETFs including Bitwise Bitcoin ETF, Fidelity's Wise Origin Bitcoin Fund, Grayscale's Bitcoin Mini Trust, and BlackRock's iShares Bitcoin Trust [6] Market Considerations - Trading before earnings reports can be volatile, and with the holiday season affecting trading volume, investors may consider waiting until after the Q4 earnings report to make purchases [7]

Core Insights - BitMine Immersion Technologies currently holds over 3.2% of the total Ethereum token supply, with a goal of acquiring 5% of all ETH in circulation [1] - The company's total assets, including crypto holdings, cash reserves, and strategic investments, amount to approximately $13.3 billion [2] - BitMine is supported by prominent institutional investors, which is crucial for achieving its ETH ownership target [4][5] Company Holdings - As of December 14, BitMine holds 3,967,210 ETH, having added over 102,000 tokens in the past week, representing a multibillion-dollar allocation [1] - The company also holds 193 bitcoin, $1.0 billion in cash, and a $38 million stake in Eightco Holdings [2] Financial Strategy - BitMine's balance sheet reflects a strategy to combine liquidity with long-duration exposure to digital assets [2] - Maintaining a cash buffer allows the company to accumulate crypto during market volatility while preserving operational flexibility [3] Institutional Support - The company is backed by notable investors such as ARK Invest, Founders Fund, and Pantera Capital, which is seen as critical for reaching its 5% ETH ownership goal [4][5] Future Initiatives - BitMine is developing a staking initiative called the Made in America Validator Network (MAVAN), expected to launch in early 2026 [6] - An annual shareholders meeting is scheduled for January 15, 2026, to provide updates on treasury strategy and staking rollout [7]