（来源：吴说） 来源：市场资讯 吴说获悉，据 @ai_9684xtpa 监测，随着 BTC 突破 9 万美金，「1011 闪崩后开空内幕巨鲸」的多单浮 亏缩窄至 2486 万美元。ETH：持仓 203,340.64 枚（约 6.17 亿美元），开仓价 $3,147.39，浮亏 2265 万 美元；BTC：持仓 1000 枚（约 8986 万美元），开仓价 $91,506.7，浮亏 164 万美元；SOL：持仓 51.1 万枚（约 6603 万美元），开仓价 $130.1911，浮亏 57.3 万美元。 ...

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Group 1 - The company, 恒月控股, announced the acquisition of approximately 7 units of Bitcoin in the open market, with a total cost of about 4.712 million HKD, equivalent to approximately 604,000 USD [1]

Core Viewpoint - The company, 日煮 (DDC.US), has announced a significant purchase agreement to acquire 300 bitcoins, marking its largest single bitcoin acquisition to date, which is expected to enhance its total bitcoin holdings to 1,383 coins and project a 99% return on bitcoin by the second half of 2025 [1] Group 1 - The stock price of 日煮 (DDC.US) increased by over 11%, reaching $4.89 following the announcement of the bitcoin purchase [1] - The acquisition of 300 bitcoins is a strategic move for the company, indicating a strong commitment to cryptocurrency investments [1] - The expected return of 99% on bitcoin holdings by the second half of 2025 highlights the company's optimistic outlook on the cryptocurrency market [1]

Report Industry Investment Rating No relevant content provided. Core View of the Report - Last week, 16 new products were issued in the US, with a relatively large number of single - stock products and digital currency products. The Defined Duration series ETFs issued by Discipline Funds use a stock - bond hybrid form to anchor the target duration [1][6]. - In the past week, the inflow of US ETFs continued to exceed $30 billion, with a large inflow into stock products. Bitcoin ETFs continued to experience outflows, while the capital flow of gold ETFs remained stable [1][10]. - This year, raw material - related products in US industry - themed products have led the gains, with many products rising by more than 60% [1][16]. - In September 2025, the total amount of non - money public funds in the US was $23.47 trillion, an increase of $0.49 trillion compared to August. Last week, the outflow of US domestic stock funds returned to around $20 billion, and bond products returned to inflows [1][19]. Summary by Directory 1. US ETF Innovation Products - 16 new products were issued last week, including single - stock products (mostly 2 - times leveraged products covering semiconductor, supply - chain, fuel - cell and other companies), municipal bond - related ETFs, strategy ETFs, and digital currency index products [6][7]. - Discipline Funds issued the Defined Duration series ETFs, which use a stock - bond hybrid form to anchor the target duration and aim to obtain more stable returns within a given time frame by evaluating stock duration through valuation indicators and combining with matching bond portfolios [1][9]. 2. US ETF Dynamics 2.1 US ETF Fund Flows - In the past week, the inflow of US ETFs exceeded $30 billion, with a large inflow into stock products. Bitcoin ETFs continued to experience outflows. Vanguard's S&P 500 ETF ranked first in inflows, while State Street's products had the largest outflows. Each S&P 500 ETF has alternated in inflows in recent weeks. BlackRock's Bitcoin and Ethereum ETFs were among the top ten in outflows [1][10]. - The capital flow of gold ETFs remained stable last week, and the capital of the Nasdaq 100 ETF has fluctuated significantly recently [15]. 2.2 US ETF Performance - This year, raw material - related products in US industry - themed products have led the gains. In addition to gold and silver mining, copper mines, rare earths, and other metals have all performed well, with many products rising by more than 60% [1][16]. 3. Recent Fund Flows of US Ordinary Public Funds - In September 2025, the total amount of non - money public funds in the US was $23.47 trillion, an increase of $0.49 trillion compared to August. The S&P 500 rose 3.53% in September, and the scale of US domestic stock products increased by 2.13%, with an increase in redemption pressure that month. - According to weekly statistics, last week, the outflow of US domestic stock funds returned to around $20 billion, and bond products returned to inflows [19].

Core Viewpoint - Hengyue Holdings (01723) announced the acquisition of approximately 0.6 units of Bitcoin for about HKD 533,000 (approximately USD 68,000) to support its prepaid Bitcoin card business strategy [1] Group 1: Bitcoin Acquisition - The company purchased Bitcoin in the open market, with the transaction settled immediately after the completion of each purchase order [1] - The funding for the Bitcoin acquisition was sourced from the company's available cash reserves [1] Group 2: Strategic Purpose - The acquisition aims to build Bitcoin inventory to facilitate the sales and recharge services of prepaid Bitcoin cards, ensuring stable liquidity and efficient settlement capabilities [1] - The company maintains a Bitcoin operational reserve to meet customer demands promptly and reduce fulfillment time [1] Group 3: Asset Management - The Bitcoin inventory is distinct from the company's treasury digital assets, which are part of the asset allocation strategy aimed at diversification and hedging against fiat currency depreciation [1] - The purchased Bitcoin inventory will be accounted for as operational inventory and managed through dedicated customer service controls, with separate disclosures in financial statements for operational inventory and treasury digital assets [1]

Group 1 - The company International Commercial Settlement (00147) announced that its joint venture Keen Golden acquired a total of 105.88972 bitcoins in the open market [1] - The total cost of the bitcoin acquisition was $12 million [1] - The company holds a 70% stake in the joint venture Keen Golden [1]

Core Insights - Kevin Durant's agent, Rich Kleiman, revealed that he had invested in Bitcoin for Durant about ten years ago, indicating a long-term vision for digital assets [1][3]. - The initial investment in Bitcoin was modest, but after Durant joined the Golden State Warriors, Kleiman recognized the growing interest in Bitcoin among tech elites and made a significant purchase [3]. - Bitcoin's price has surged from approximately $1,000 a decade ago to over ten times that value today, suggesting a substantial potential windfall from the investment [3]. Investment Strategy - Kleiman's early investment in Bitcoin reflects a keen awareness of emerging trends in the tech and finance sectors, showcasing a proactive approach to asset allocation [3][5]. - Durant's financial acumen is highlighted, as his off-court earnings have surpassed his on-court salary, influenced by the investment culture fostered during his time with the Warriors [5]. - Andre Iguodala, a former teammate, is noted for his investment success, further emphasizing the collaborative investment mindset within the Warriors organization [5].

Core Viewpoint - The company, Boyaa Interactive (00434), has completed the purchase of approximately 411 bitcoins using proceeds from a placement, totaling around HKD 370 million (equivalent to USD 47.5 million) [1] Group 1 - The average purchase price of the bitcoins was approximately USD 115,400 each [1] - After this transaction, the company holds a total of approximately 4,091 bitcoins, with a total cost of around USD 279 million [1] - The average cost per bitcoin in the company's holdings is approximately USD 68,114 [1]

Core Viewpoint - The company, Boyaa Interactive (00434), has completed the purchase of approximately 411 bitcoins using proceeds from a placement, totaling around HKD 370 million (equivalent to USD 47.5 million) [1] Group 1 - The average purchase price of the bitcoins acquired is approximately USD 115,400 per bitcoin [1] - After the purchase, the company holds a total of approximately 4,091 bitcoins, with a total cost of around USD 279 million [1] - The average cost per bitcoin held by the company is approximately USD 68,114 [1]