Bitcoin ETFs make exposure easy, but the real cost goes well beyond headline fees. Tracking error, spreads, taxes, and long-term drag can make a “cheap” fund pricier than it looks — while self-custody avoids fees but shifts the risk squarely onto you.
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BlackRock says Bitcoin’s brutal drop was a leverage and liquidity wipeout, not a broken thesis. The firm still sees BTC’s long-term portfolio case intact, even as heavy derivatives positioning, ETP outflows, and treasury selling turned the unwind into a bloodbath.
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FASB is tightening the rules on when stablecoins can be treated as cash equivalents, and the bar is higher than “it trades fast on an exchange.” Only tokens redeemable directly with the issuer, backed one-for-one in segregated reserves, are likely to qualify.
Read Full Article![Hyperliquid and trade[XYZ] seek SEC rules for pre-IPO perpetual contracts](https://adbytes.media/images/blog/1787133786_N6NRVUqF.webp)
Hyperliquid Policy Center and trade[XYZ] are pressing the SEC for a rulebook on pre-IPO perpetual contracts, or “IPOPs,” aiming to bring cash-settled private-company exposure into the regulatory light. The pitch is price discovery; the catch is oracle risk, leverage, and a fresh jurisdiction mess.
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Pepeto is being pitched as a SHIB-style meme coin in its early days, but most of the headline-grabbing claims are still promotional and need hard proof. The upside is possible; so is the usual presale smoke-and-mirrors if the products, numbers, and listings don’t hold up.
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Citi has launched Custody+, a new near-real-time custody platform that will begin with Bitcoin, signaling deeper institutional adoption of digital assets. The bank says over 80% of its custody event volume is already processed in real time.
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Kalshi has filed to bring perpetual futures on a U.S. stock index and copper into the CFTC’s orbit, but nothing is approved yet. The move lands amid an unresolved legal fight over whether perps belong in futures or swaps, and who gets to regulate them.
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Stablecoins can lower remittance costs by cutting intermediaries and speeding settlement, but “near zero” only describes the blockchain leg. FX spreads, on/off-ramp fees, and compliance still take a bite, even as real-world use grows in major payment corridors.
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Securitize and Neuberger have launched HINC, a tokenized high-income credit fund on Avalanche, Ethereum, Solana, and Sui. It offers regulated access to traditional yield assets for accredited investors — but the blockchain wrapper doesn’t erase the same old credit risk.
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Citi is rolling out Custody+, an institutional platform that will house Bitcoin alongside traditional securities under one framework, with launch expected later in 2026. It’s a sober but meaningful step: less crypto hype, more Wall Street plumbing.
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