Major cryptocurrency exchanges are reportedly positioning to bring tokenized stock trading onto the blockchain, signaling a renewed push to merge traditional financial markets with digital assets.
According to a report published Friday by The Information, platforms such as Binance are exploring ways to offer crypto tokens that track publicly listed US companies, effectively creating new channels for equity exposure through tokenized instruments.
Binance And OKX Explore Tokenized Stocks
The report says Binance is considering reintroducing stock tokens to its platform, several years after pulling similar products in 2021 amid regulatory uncertainty.
The plan, cited by a person familiar with the matter, reflects a broader shift within the industry as exchanges revisit tokenized equities under evolving market and compliance frameworks.
OKX is also said to be evaluating the possibility of offering tokenized stocks, according to Haider Rafique, the company’s global managing partner and chief marketing officer.
Binance has framed the move as part of its long-term strategy to connect traditional finance with the crypto ecosystem. In a statement to CoinDesk, a Binance spokesperson said the exchange is focused on expanding user choice while maintaining strict regulatory standards.
The company noted that it began supporting tokenized real-world assets (RWAs) last year and recently launched what it described as the first regulated traditional finance perpetual contracts settled in stablecoins.
Exploring tokenized equities, the spokesperson said, is a natural progression as Binance continues to build infrastructure, collaborate with established financial institutions, and develop new products for users and the wider industry.
Binance and OKX are not alone in this effort. Several major crypto firms, including Robinhood (HOOD), Gemini (GEMI), and Kraken, have already rolled out tokenized stock offerings in Europe. Meanwhile, Robinhood and blockchain startup Dinari are seeking regulatory approval to introduce similar products in the United States.
Tokenized Shares Gain Increased Interest
Robinhood took a significant step in June of last year when it launched trading in tokens linked to publicly listed companies and announced plans to expand into tokenized shares of private firms.
As part of the rollout, the company distributed tokens pegged to OpenAI. According to Robinhood’s terms and conditions, those tokens function as derivative contracts backed by the firm’s ownership of fund units in a special-purpose vehicle that holds OpenAI convertible notes.
Coinbase (COIN), on the other hand, is reportedly in discussions with the US Securities and Exchange Commission (SEC) about launching tokenized securities that would grant investors the same legal rights and benefits as conventional shares.
Several issuers involved in the space say they are closely adhering to established rules around securities law, anti-money laundering requirements, bankruptcy protections, and investor safeguards.
Industry leaders argue that, when structured properly, tokenization can strengthen rather than weaken investor protections. Ian De Bode, chief strategy officer at Ondo Finance, said that a careful approach to tokenized securities can enhance safeguards while unlocking efficiencies that traditional markets struggle to achieve.
Featured image from OpenArt, chart from TradingView.com
The Dow Jones Index remained in a tight range near its all-time high of $49,705 as traders waited for the first Federal Reserve interest rate decision of the year and the Magnificent 7 earnings.
Ondo Finance has expanded its tokenized equities platform with the launch of onchain exposure to newly public BitGo stock. Ondo Finance has introduced on-chain access to BitGo shares on the same day the crypto custodian made its public market debut.…
A macro stress test for global markets as risk appetite fractures
Global markets are sending a clear and uncomfortable signal. Stocks are selling off across major indices. Cryptocurrencies are falling faster and with greater volatility. Gold, meanwhile, is moving higher, absorbing capital that is actively exiting risk assets.
This divergence is not a short-term anomaly or a technical coincidence. It reflects a deeper shift in how investors are interpreting policy risk, liquidity conditions, and the durability of the current market regime. When equities and crypto fall together while gold rises, markets are not simply reacting to bad news. They are reassessing assumptions about stability, correlation, and protection.
Over the past several sessions, the alignment has been striking. U.S. equities recorded one of their sharpest single-day declines in months. Bitcoin slipped below key psychological levels, underperforming stocks on a relative basis. Crypto-linked equities, including miners and exchanges, sold off aggressively. At the same time, gold rallied to fresh highs, reinforcing its role as the preferred hedge during moments of macro uncertainty.
This pattern matters because it reveals how capital behaves when confidence weakens. Investors are not rotating within risk assets. They are exiting risk altogether. That distinction is critical.
The question now is not whether markets will remain volatile. Volatility is already here. The real question is whether this divergence marks a temporary stress episode or the early stages of a broader regime shift that could define asset performance for months ahead.
To answer that, we need to unpack what triggered this move, why stocks and crypto fell together, why gold diverged, and what the next set of outcomes could realistically look like.
The Trigger: Policy Shock Meets Fragile Positioning
Market selloffs rarely happen in a vacuum. They occur when a catalyst collides with vulnerability. In this case, renewed tariff threats from the U.S. administration acted as the spark, but the fire was already waiting.
The immediate trigger was a sharp escalation in trade rhetoric directed at several European economies, tied to broader geopolitical tensions. While tariff threats themselves are not new, the timing and tone mattered. Markets were already navigating a delicate balance between slowing growth, uncertain monetary policy, and elevated valuations across both equities and crypto assets.
In that environment, policy surprises carry outsized impact. Tariffs introduce multiple layers of uncertainty at once. They raise the risk of higher inflation by increasing import costs. They threaten growth by disrupting trade flows and corporate planning. And they complicate central bank decision-making by pulling inflation and growth in opposite directions.
This combination is particularly damaging for risk assets. Equities depend on earnings visibility and stable discount rates. Cryptocurrencies depend on liquidity, confidence, and speculative capital. Tariff-driven uncertainty undermines all three simultaneously.
What made the reaction sharper was positioning. Many investors entered this period with expectations of policy normalization, easing financial conditions, and continued institutional inflows. Instead, they were confronted with a reminder that geopolitical risk remains unresolved and unpredictable.
As a result, selling cascaded quickly. Equity markets repriced growth assumptions. Crypto markets, which tend to amplify moves due to leverage and thinner liquidity, experienced accelerated downside. Gold, by contrast, benefited immediately as capital sought assets perceived as insulated from policy missteps.
The key takeaway is that this was not a random selloff. It was a policy shock hitting markets that were already stretched and sensitive to disappointment.
Why Stocks and Crypto Fell Together
1. Risk assets now share the same liquidity backbone
One of the most important changes in modern markets is the increasing integration of cryptocurrencies into the traditional financial system. Bitcoin and major digital assets no longer operate on the fringes of global capital markets. They are embedded within them.
Over the past several years, institutional adoption has transformed crypto’s market structure. Spot ETFs, regulated custody solutions, derivatives markets, and prime brokerage services have brought crypto exposure into the same portfolios that hold equities, bonds, and commodities. As a result, crypto now responds to many of the same liquidity forces that drive stock prices.
When liquidity is abundant and risk appetite is strong, this integration works in crypto’s favor. Capital flows freely. Correlations compress. Prices rise together. But when liquidity tightens or uncertainty increases, the same integration becomes a vulnerability.
During this recent selloff, equities and crypto moved lower in tandem because they are drawing from the same pool of global risk capital. When investors de-risk, they reduce exposure across the entire risk spectrum. Crypto, with its higher volatility and leverage, often absorbs the largest impact.
This is why Bitcoin’s decline mirrored equity weakness rather than offsetting it. Crypto did not serve as a hedge. It behaved as a high-beta extension of the same risk trade.
Understanding this shift is essential. The idea that crypto automatically diversifies equity risk is outdated in the short term. In stress environments, correlation rises, not falls.
2. Tariffs revive inflation and growth fears at the same time
Tariffs are uniquely destabilizing because they attack markets from two directions. On one hand, they introduce inflationary pressure by raising the cost of imported goods and disrupting supply chains. On the other hand, they suppress growth by increasing uncertainty, reducing trade volumes, and discouraging investment.
For equities, this creates a valuation problem. Higher inflation pushes interest rates higher or delays rate cuts, increasing discount rates. Slower growth reduces earnings expectations. Together, they compress multiples and pressure prices.
For crypto, the impact is different but equally damaging. Crypto assets thrive in environments of expanding liquidity and speculative confidence. When tariffs threaten growth and complicate monetary policy, liquidity expectations weaken. Investors become more selective. Risk tolerance declines.
This dual effect explains why both markets sold off simultaneously. Investors were not choosing between stocks and crypto. They were choosing whether to remain exposed to risk at all.
Gold, by contrast, benefits from this exact setup. It does not depend on growth. It does not generate cash flows that need to be discounted. It thrives when inflation risk rises and confidence in policy coordination weakens.
3. Crypto-Specific Fragility Amplified the Move
While macro forces triggered the initial wave of selling, crypto’s internal market structure significantly intensified the downside. This was not a random or isolated breakdown. It reflected a market that had become structurally fragile beneath the surface, even as headline prices appeared stable.
In the weeks leading into the selloff, several warning signs were already present. Bitcoin and major altcoins had recently tested or exceeded prior highs, inviting profit-taking from early entrants and long-term holders. Momentum slowed, but positioning did not adjust accordingly. Derivatives markets remained heavily skewed toward long exposure, particularly in perpetual futures. Funding rates signaled optimism that had not yet been validated by fresh inflows.
At the same time, retail participation had thinned. Spot volumes declined relative to prior rallies, suggesting that price action relied increasingly on institutional flows and leveraged positioning rather than broad-based demand. This matters because institutional flows tend to be episodic, not continuous. When they pause or reverse, markets lose a critical stabilizing force.
Once prices began to slip, leverage became the accelerant. Liquidations triggered mechanically as margin thresholds were breached. Forced selling added pressure regardless of fundamentals or longer-term conviction. Support levels failed more rapidly than in equity markets, where circuit breakers, passive flows, and diversified ownership structures slow declines.
Crypto markets remain reflexive by design. Price declines trigger liquidations, liquidations trigger further declines, and feedback loops emerge quickly. This reflexivity has diminished over time but has not disappeared. Even as infrastructure matures and institutional participation grows, leverage remains deeply embedded in market behavior.
This dynamic does not imply that crypto is inherently unstable. It does mean that volatility amplification remains a defining risk characteristic. In moments of macro stress, crypto often absorbs pressure faster and more violently than traditional assets. Understanding this mechanical reality is essential for interpreting price moves without overreacting to them.
Why Gold Stayed Green While Everything Else Turned Red
Gold Responds to Policy Credibility Risk, Not Momentum
Gold’s resilience during this selloff had little to do with technical patterns or speculative enthusiasm. It reflected a deeper function that gold has served for centuries. Gold responds to credibility risk in policy and governance, not to short-term momentum or earnings expectations.
Tariff threats strike at the foundation of global economic coordination. They introduce uncertainty into trade relationships, supply chains, and inflation management. When investors sense that policy direction may become unpredictable or confrontational, they seek assets that sit outside the policy framework entirely.
Gold fits that role uniquely. It carries no counterparty risk. It does not depend on corporate profits, growth forecasts, or monetary accommodation. It is not issued by any government and cannot be diluted by policy decisions. It exists independently of the systems that are being questioned.
In moments when investors reassess trust rather than chase returns, gold becomes the first destination for defensive capital. This explains why gold often rises not during recessions themselves, but during periods when confidence in decision-making erodes.
Importantly, gold’s strength does not require a crisis narrative. It does not rely on fear alone. It benefits from uncertainty, ambiguity, and policy friction. That is precisely the environment created by escalating tariff rhetoric and geopolitical tension.
This distinction helps explain why gold can rise even as equities and crypto fall together. Stocks and digital assets remain embedded within the economic system. Gold stands apart from it.
Central Bank Behavior Reinforces Gold’s Role
Another powerful force supporting gold is sustained central bank demand. Over the past several years, central banks have accumulated gold at some of the fastest rates seen in decades. This behavior is deliberate and strategic, not reactive.
Central banks buy gold to diversify reserves, reduce exposure to any single currency, and hedge against geopolitical fragmentation. These motivations align closely with the current global environment, where economic blocs are becoming more fragmented and policy coordination is less certain.
Unlike speculative flows, central bank buying creates a steady, price-insensitive bid. These institutions are not trading volatility. They are managing long-term reserve stability. As a result, gold prices benefit from structural support even when broader markets experience stress.
This contrasts sharply with crypto markets, where flows remain more cyclical and sentiment-driven. While institutional crypto adoption has grown, it has not yet reached the level of strategic reserve allocation that gold enjoys.
The difference matters. Structural demand dampens volatility and anchors confidence. Cyclical demand amplifies moves in both directions.
The Digital Gold Narrative Failed Another Real-Time Test
Bitcoin is frequently described as digital gold, but this episode highlights an important and often misunderstood distinction. In moments of acute macro stress, Bitcoin still behaves like a high-beta risk asset rather than a defensive hedge.
That observation does not undermine Bitcoin’s long-term thesis as a scarce digital asset. It does not negate its potential role in a future monetary system. What it does clarify is Bitcoin’s current position in the market hierarchy.
Bitcoin remains highly sensitive to liquidity conditions, risk appetite, and policy expectations. When uncertainty rises sharply and capital prioritizes preservation over opportunity, Bitcoin tends to fall alongside equities rather than diverge from them.
Gold does not require belief or narrative reinforcement. Its role as a store of value is deeply institutionalized. Bitcoin’s role is still evolving. It attracts capital during periods of monetary expansion and confidence. It struggles when liquidity tightens and policy uncertainty rises.
This does not mean the digital gold thesis is invalid. It means it is incomplete. Bitcoin may serve as a long-term hedge against monetary debasement, but it has not yet proven itself as a short-term hedge against geopolitical or policy shocks.
Recognizing this distinction helps investors avoid misplaced expectations. It allows Bitcoin to be evaluated on its actual behavior rather than aspirational comparisons.
What Search Data and Market Behavior Are Telling Us
Search behavior offers a valuable window into investor psychology. At present, the dominant queries are not about upside targets or breakout predictions. They focus on explanation, causality, and risk assessment.
People are searching for why markets are moving together, why traditional hedges are diverging, and whether current conditions signal something more systemic. This shift in attention is meaningful.
It suggests that uncertainty, not greed, is driving engagement. Investors are not rushing to deploy capital. They are pausing to understand the environment. This behavior typically appears during reassessment phases rather than panic phases.
Market behavior reinforces this interpretation. While prices have fallen, there has been no widespread disorder. Liquidity remains intact. Credit markets have not seized. Volatility has risen, but not uncontrollably.
This combination of elevated concern and controlled behavior points to a market that is re-pricing risk rather than collapsing under it. In such environments, clear and disciplined analysis carries more value than bold forecasts.
For content creators and analysts, this moment rewards clarity over confidence and explanation over speculation.
What Happens Next?
Base Case: Volatility Persists, Leadership Remains Defensive
The most likely scenario is one of continued volatility without systemic crisis. Equities may stabilize but struggle to regain leadership. Crypto may remain under relative pressure as leverage resets and confidence rebuilds. Gold is likely to hold gains as long as policy uncertainty remains unresolved.
This environment favors patience and balance. It does not reward aggressive directional bets.
Downside Risk Case: Escalation and Liquidity Stress
If tariff rhetoric escalates into concrete policy actions, downside risks increase materially. Growth expectations would weaken. Inflation risk could rise. Central banks could face constrained policy choices.
In this scenario, risk assets could reprice lower in a more disorderly fashion. Crypto would likely underperform due to leverage sensitivity. Gold would benefit disproportionately as capital seeks insulation from systemic risk.
Upside Recovery Case: De-Escalation and Clarity
If tensions ease and policy signals stabilize, markets could recover. Equities may rebound selectively. Crypto could recover faster due to higher beta. Gold may consolidate rather than reverse sharply.
This outcome requires clarity, not optimism. Markets respond to reduced uncertainty more than to positive headlines.
What This Means for Investors
This environment does not reward impulsive decisions. It rewards understanding.
Investors should focus on correlation risk, liquidity sensitivity, time horizon alignment, and exposure sizing. This is a moment to reassess assumptions, not to double down on narratives.
Markets are signaling caution, not catastrophe. Those who listen carefully will be better positioned for whatever comes next.
FAQs
1. Why are stocks and crypto falling together? Stocks and cryptocurrencies are both sensitive to global liquidity, risk appetite, and policy expectations. When uncertainty rises around trade, geopolitics, or interest rates, investors reduce exposure to assets tied to growth and confidence. This causes correlations to rise. In these moments, diversification breaks down temporarily as capital moves away from risk across markets at the same time.
2. Why is gold rising while other assets fall? Gold tends to benefit when investors question policy credibility, geopolitical stability, or fiscal discipline. It carries no credit risk and does not rely on earnings or growth assumptions. Central bank accumulation also provides structural support. These factors make gold a preferred destination for defensive capital when uncertainty increases and confidence in risk assets weakens.
3. Is Bitcoin failing as an asset? No. Bitcoin is not failing, but it is behaving according to its current role in markets. In periods of stress, Bitcoin still trades like a high-beta risk asset rather than a safe haven. This does not invalidate its long-term scarcity thesis. It highlights that Bitcoin remains sensitive to liquidity conditions and investor confidence in the short to medium term.
4. Does this mean the digital gold narrative is wrong? The digital gold narrative is incomplete rather than wrong. Bitcoin may serve as a long-term hedge against monetary debasement, but it has not yet proven itself as a short-term hedge during geopolitical or policy-driven shocks. Gold has centuries of institutional trust, while Bitcoin’s role is still evolving within the global financial system.
5. Are markets signaling an upcoming crisis? At this stage, markets are signaling reassessment, not crisis. Liquidity remains functional, and there is no evidence of systemic breakdown. Volatility has increased, but price action reflects caution rather than panic. Investors are repricing risk and waiting for clearer policy signals before committing capital, which is typical during transitional phases.
6. What role is policy uncertainty playing in this selloff? Policy uncertainty is a central driver. Tariff threats, geopolitical tensions, and unclear monetary direction introduce unpredictability into growth and inflation expectations. Markets dislike ambiguity more than bad news. When policy signals lack clarity or consistency, investors reduce risk exposure until they gain better visibility into potential outcomes.
7. Why does crypto fall faster than equities during stress? Crypto markets still contain higher leverage and more reflexive mechanics than equity markets. When prices decline, liquidations can accelerate moves mechanically. Retail participation is also more volatile. These factors cause crypto to absorb shocks faster and more aggressively, even as institutional participation continues to grow.
8. Should investors expect continued volatility? Yes, continued volatility is likely until policy clarity improves. Markets are sensitive to headlines, macro data, and geopolitical developments. Until uncertainty fades or stabilizes, price swings across equities, crypto, and commodities may persist. Volatility does not imply collapse, but it does require disciplined risk management and patience.
9. What indicators matter most right now? Investors should focus on policy developments, interest rate expectations, inflation data, and cross-asset correlations. Gold behavior relative to equities, crypto performance versus stocks, and liquidity conditions offer more insight than short-term price targets. These indicators help assess whether markets are stabilizing or preparing for further repricing.
10. How should long-term investors approach this environment? Long-term investors should prioritize balance, position sizing, and time horizon alignment. This is a moment to reassess assumptions rather than chase narratives. Avoid overreacting to short-term moves. Markets are recalibrating, not resetting. Those who focus on fundamentals, risk control, and patience are better positioned for the next phase.
The Bottom Line
Markets are not broken. They are recalibrating.
What we are witnessing is not a systemic failure or a loss of control. It is a repricing of risk in response to rising uncertainty. When stocks and cryptocurrencies bleed red while gold stays green, markets are sending a clear message about where confidence stands. Capital is not chasing opportunity. It is prioritizing protection.
This shift reflects a change in investor psychology rather than panic. Participants are reassessing assumptions that had quietly become embedded during periods of stability and liquidity. Trade policy uncertainty, geopolitical friction, and questions around monetary direction have introduced enough ambiguity to warrant caution. In response, investors are reducing exposure to assets that depend on growth, liquidity, and confidence, and reallocating toward assets that offer insulation from policy risk.
Importantly, this behavior does not signal the end of the cycle. It signals a pause. Markets often move in phases where risk is priced aggressively, then reassessed, then selectively re-embraced. The current phase is one of reassessment. Investors are waiting for clearer signals before committing fresh capital.
What happens next will depend far less on short-term chart patterns and far more on policy behavior and communication. Markets are listening closely to governments, central banks, and geopolitical developments. Clarity can stabilize sentiment. Escalation can deepen caution.
For now, the message is unmistakable. When uncertainty rises, protection comes first. Growth opportunities do not disappear, but they take a back seat until confidence is rebuilt.
Chainlink has launched a new on-chain data product that gives decentralized applications continuous access to U.S. stock and exchange-traded fund prices beyond standard market hours. The service, called 24/5 U.S. Equities Streams, delivers equity market data across regular, pre-market, after-hours,…
On Monday, the New York Stock Exchange (NYSE) unveiled its latest plan to develop a tokenized securities platform, utilizing blockchain technology to facilitate 24/7 stock trading, now seeking regulatory approval.
New Digital Trading Venue At NYSE
According to Monday’s announcement, the proposed digital platform will offer a tokenized trading experience that includes around-the-clock operations, instant settlements, dollar-sized orders, and stablecoin (dollar-pegged cryptocurrencies) funding options.
By integrating the NYSE’s “advanced Pillar matching engine” with blockchain-based post-trade systems, the firm disclosed that the new platform will support multiple chains for settlement and custody, streamlining the trading process significantly.
Once regulatory approvals are secured, this platform will reportedly create a new venue at the NYSE for trading tokenized shares. These shares will not only be fungible with traditional securities but will also comprise tokens that are issued natively as digital assets.
Interestingly, tokenized shareholders will retain their rights, including eligibility for dividends and participation in company governance, much like traditional shareholders. The trading venue aims to align with established market structure principles and will provide non-discriminatory access to all qualified broker-dealers.
The launch of this tokenized securities platform is part of the Intercontinental Exchange’s (ICE) broader digital strategy, which includes preparing its clearing infrastructure for continuous trading and potentially integrating tokenized collateral.
Competition Heats Up
ICE is collaborating with major financial institutions like BNY Mellon and Citigroup to facilitate tokenized deposits across its clearinghouses. This effort will help clearing members manage funds and fulfill margin requirements outside of regular banking hours.
Lynn Martin, President of NYSE Group, emphasized the significance and innovation surrounding this development, stating:
For more than two centuries, the NYSE has transformed the way markets operate. We are leading the industry toward fully on-chain solutions grounded in unmatched protections and high regulatory standards.
The company’s President further stated that the New York Stock Exchange aims to combine trust with “state-of-the-art technology,” effectively reinventing market infrastructure to meet the evolving demands of a digital future.
Michael Blaugrund, Vice President of Strategic Initiatives at the Intercontinental Exchange, echoed Martin’s sentiment, noting:
Since its founding, ICE has propelled markets from analog to digital. Supporting tokenized securities is a pivotal step in our strategy to operate on-chain market infrastructure for trading, settlement, custody, and capital formation in the new era of global finance.
In parallel to these developments, the NYSE’s main competitor, Nasdaq, along with the CME Group, has intensified efforts to provide institutional investors with a regulated mechanism to measure cryptocurrency markets.
They recently reintroduced the Nasdaq Crypto Index, renamed as the Nasdaq-CME Crypto Index (NCI), designed to support products such as exchange-traded funds (ETFs) and structured funds. This move aims to establish clearer rules and governance for index-based cryptocurrency exposure.
Featured image from DALL-E, chart from TradingView.com
Canaan Inc., a maker of crypto mining rigs, has been hit hard over the past year as its American Depositary Shares fell well below key thresholds.
Reports say the company received a written notice from Nasdaq after its ADS had closed under $1.00 for 30 consecutive business days, triggering a formal compliance process.
Minimum Bid Deadline
The exchange gave Canaan 180 calendar days to push its share price back above $1.00 for 10 straight trading days, a rule meant to keep listings on the Nasdaq Global Market.
Reports note this grace period ends on July 13, 2026, and that trading will continue while the company works to meet the threshold.
Drop Stings Investors
Canaan’s stock has slid about 63% over the last 12 months, reflecting weak demand and broader stress in the crypto hardware sector.
Some market reports put the most recent close near $0.79 or roughly in that area, underlining how far the price has fallen.
Reports say part of the pressure comes from lower orders and a shift in computing demand, as some buyers explore AI hardware instead of mining rigs.
That change hit revenues and left the stock vulnerable. The company has faced similar trouble before; this is a repeat warning less than a year after a prior compliance notice.
Options On The Table
Company filings and market watchers say Canaan could try a reverse stock split to push the per-share price up quickly, or look for ways to boost sales and cash flow.
Either route has tradeoffs. A split can change share math but does not fix demand. Strengthening sales takes time and money.
Watch the daily closing price. If the ADS can close at or above 10 or more consecutive trading days at $1.00 or higher, Nasdaq will confirm compliance. If that does not happen by July 13, the company may face delisting or seek another extension through Nasdaq procedures.
A Hard Road Ahead
Canaan still trades on Nasdaq for now. But the notice is a reminder that small shifts in demand and price can force big changes for hardware makers.
For holders, the path to safety is clear but not easy: the share price must climb and stay there. Reports say management will monitor the market and consider options to restore the listing standard.
Featured image from Unsplash, chart from TradingView
BitMEX co-founder Arthur Hayes said that Bitcoin may climb to fresh records if US monetary conditions loosen next year. He pointed to several possible triggers for a large increase in dollar liquidity in 2026, while also linking recent market moves to where capital flowed in 2025.
Hayes Links Bitcoin To Dollar Liquidity
According to Hayes, the key for Bitcoin is the amount of money sloshing through the system. He mentioned the US Federal Reserve’s balance sheet expanding through what he called more aggressive money creation, mortgage rates falling as lenders loosen, and commercial banks stepping up loans to industries backed by government strategy.
Bitcoin fell 15% in 2025 while gold jumped 44%. Technology stocks led the S&P 500 with a total return of 25%, against the S&P’s overall 18% return. Those figures, Hayes argued, show that last year was a story about where liquidity landed, not about crypto losing its basic case.
Government Support Sends Tech Higher
Hayes also highlighted how governments have shifted capital into certain tech projects. He suggested that both China and the US used executive actions and public funds to push money into artificial intelligence work, saying this has helped tech firms attract big flows regardless of immediate return on equity.
He named US President Donald Trump when pointing to policy moves that favor AI investment. That dynamic, he said, helped explain why the Nasdaq performed strongly even as Bitcoin slumped.
Policy And Military Spending Matter
He added a more pointed claim about military spending. Hayes said the US will keep using its military might and that such efforts require large-scale production financed through the banking system.
That, in his view, can add to broader liquidity if the banking sector starts funding big government-backed projects. Reports have disclosed that Hayes believes these forces could force dollar liquidity higher in 2026, creating fertile ground for risk assets — including Bitcoin.
Inflation Data Pushed Crypto Higher This Week
Markets reacted when the latest US inflation figures came in cooler than expected. Bitcoin inched close to $97,000 and rose more than 5% in 24 hours. Ethereum, Solana, and Cardano each posted gains near 8% in the same span.
Bond yields fell and the dollar weakened, which left cash looking for a new home. That pattern is familiar: softer inflation tends to lower borrowing costs and makes investors more willing to take risk.
A Bull Case With Conditions
Based on Hayes’ logic, Bitcoin’s upside depends on ongoing fiat debasement. He frames Bitcoin as monetary technology whose value rises when fiat is weakened. That view is coherent but conditional. If central banks choose to stay tight, or if inflation flares and forces a policy shift, Hayes’ scenario may not unfold. For the time being, his forecast is a liquidity story — one that will be tested by policy choices in 2026.
Featured image from Unsplash, chart from TradingView
Strive, a publicly traded bitcoin treasury and asset-management firm, said it has arranged a $500 million at-the-market offering to help fund more bitcoin purchases.
The company plans to sell Variable Rate Series A Perpetual Preferred Stock, known as SATA. The offering allows Strive to issue shares into the market at prevailing prices rather than through a single sale. The structure gives the firm flexibility to raise capital as demand allows.
SATA carries a 12% dividend and an effective yield near 13%. The preferred stock is modeled on Strategy’s STRC perpetual preferred equity, which has been used as a funding tool for bitcoin accumulation.
SATA currently trades around $91, below its $100 par value.
Strive said proceeds may be used for a range of purposes. These include buying bitcoin, purchasing income-generating assets, supporting working capital, repurchasing common shares, or pursuing acquisitions.
JUST IN: Vivek Ramaswamy's Strive to raise $500 million to buy more #Bitcoin
The company did not specify how much of the raise would be allocated to bitcoin purchases.
The 14th-largest corporate bitcoin holder
Strive currently holds about 7,525 bitcoin, valued at roughly $695 million at recent market prices. That positions the firm as the 14th-largest publicly traded corporate holder of bitcoin.
The company has leaned into a bitcoin-focused treasury strategy following a public reverse merger earlier this year.
The company was co-founded in 2022 by entrepreneur and political figure Vivek Ramaswamy. Since launching its first exchange-traded fund in August 2022, Strive Asset Management has grown to oversee more than $2 billion in assets, according to company disclosures.
The firm markets itself as an alternative asset manager with a focus on aligning capital with long-term investment themes.
In September, Strive agreed to acquire Semler Scientific, a transaction that increased the combined entity’s bitcoin exposure. The move placed the company among a growing group of public companies that use equity markets to build large bitcoin positions, a strategy popularized by Michael Saylor’s Strategy.
Shares of its common stock, ASST, trade near $1 today.
Strive calls out MSCI on bitcoin beliefs
The company has also taken an active role in market structure debates tied to bitcoin treasury firms. Earlier this month, Strive called on index provider MSCI to avoid excluding companies with large digital asset holdings from major equity benchmarks.
MSCI is reportedly consulting investors on whether firms with balance sheets dominated by crypto assets should remain eligible for inclusion.
The company argued that such exclusions would limit investor choice and reshape capital flows across passive funds. The review could have broad implications for companies that hold bitcoin as a core treasury asset.
People and technology are more interconnected than ever before, and with that, we’ve seen an acute need for cyber security. Data breaches have reached unprecedented levels and seem to have no end in sight. Private business data, employee data, and consumer data are now scattered about the dark web; for sale or liable to be used for unscrupulous and unintended purposes.
In 2022, the global cost of cyber crime reached $8.4 trillion. In 2023, that number is expected to surpass the 11 trillion dollar mark. Adequate cyber security is indispensable for the continued advancement of the global economy and for continuous individual well-being. Focusing on breach prevention is essential.
Because of cyber security’s far-reaching implications, cyber security will be an important growth area across the next decade. If you are a retail investor, that’s why investing in a cyber security fund might make sense for you. While individual stocks can be volatile, investing in a basket of cyber security ETFs could provide stability. Cyber security ETFs represent an efficient and effective way to get investment portfolio exposure to this booming sector.
What is a cyber security ETF?
Exchange-traded funds (ETFs) are investment products that track a sector, commodity or index. An ETF consists of an assortment of investments, such as stocks, bonds and commodities. A cyber security ETF will include stocks belonging to companies within the cyber security industry.
Cyber security ETF selection: Insights
In choosing a cyber security ETF, consider the following:
Consider exploring a fund’s Morningstar Category and actual holdings for a clear understanding of exactly what you’re potentially buying. ETFs that appear similar on the surface may actually be quite different from one another.
Costs matter. The best index funds and ETFs often retain the lowest expenses. A low expense ratio commonly translates to higher performance levels over time.
Ask yourself the following three questions ahead of selecting a cyber security ETF: ‘What exposure does this ETF have?’ ‘How effectively does this cyber security ETF deliver this exposure?’ and ‘What does accessing this ETF look like?’
Investigate whether or not there are extended lengths of time during which the ETF outperforms or underperforms an index. This could provide either positive or negative signals, depending on the root causes of results.
See if there is a reasonable trading volume.
Also be sure to review a fund’s track record. Has the ETF succeeded in gathering assets? In the event that an ETF has fewer than $20 millionunder management, it may eventually be closed by its sponsor.
Cyber security ETF examples
1. First Trust NASDAQ Cybersecurity ETF. This ETF consists of 35 different cyber security company stocks. The fund retains nearly $5.6 billion in assets under management, and represents the largest pure-play ETF in this segment of the tech sector.
The First Trust cyber security offering is one of the longest-tenured ETFs globally, with an inception date in 2015. Since the fund’s creation, shares of the fund have more than doubled.
2. Global X Cybersecurity ETF. A comparatively new fund, the Global X cyber security ETF was launched in 2019. The fund quickly attracted over $1.1 billion in investor funds, and has shown better performance than the First Trust NASDAQ fund.
3. ETFMG Prime Cyber Security ETF. This ETF has amassed $1.9 billion in assets and consists of 62 different stocks. This translates to less portfolio concentration of top brands in the industry, and a greater focus on smaller companies and international investments.
4. iShares Cybersecurity and Tech ETF. This ETF is composed of 52 different cyber security stocks and includes stocks belonging to other tech companies that participate in the cyber security space. Beyond that, this ETF includes cloud computing firms that are in security-adjacent areas.
In summary
As part of a long-term investment strategy, selecting top cyber security ETFs can be a smart choice. They can serve as the basis of a well-diversified portfolio.
A quick reminder: All investors should perform their own diligence, assess their own risk tolerance, invest responsibly, and ensure that investments align with financial goals. This article is not an endorsement of any specific investment strategies or cyber security ETFs.
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