Overview

• UBS reports that some overseas Chinese family offices are targeting roughly 5% of portfolios in cryptocurrencies.
• Bitcoin recently set a reported all-time high near $124,000, coinciding with new U.S. GENIUS Act provisions and Hong Kong’s stablecoin legislation.
• HashKey says registered users rose 85% year over year by August, while fintech firms raised about $1.5 billion linked to Hong Kong’s stablecoin framework.
• Family offices that first used spot Bitcoin ETFs are beginning to consider holding tokens directly and exploring strategies beyond simple buy-and-hold, according to wealth managers.
• NextGen Digital Venture raised over $100 million in a long-short crypto equity fund launched in May, and South Korean exchange activity has increased this year with higher daily volumes reported.