# Institutional的所有文章

在 HTX 新闻中心浏览与「Institutional」相关的最新资讯与深度分析。潘盖市场趋势、项目动态、技术进展及监管政策，提供权威的加密行业洞察。

Gold Exchange Enters the Digital Era: Antalpha Launches XAU₮ Physical Gold Exchange Service in Hong Kong

Driven by global macroeconomic and geopolitical uncertainties, gold has reaffirmed its role as a core store of value. Antalpha has announced a strategic partnership with Malca-Amit, a leading custodian and LBMA member, to launch a seamless digital-to-physical gold redemption service for Tether Gold (XAU₮) in Hong Kong. Within just five months since July 2025, XAU₮'s market capitalization surged from $800 million to $2.2 billion, signaling a major shift toward digitized gold ownership. The service leverages Malca-Amit’s LBMA-accredited secure vaulting infrastructure, which holds ISO 9001 and ISO 27001 certifications. A backup gold reserve mechanism is also under discussion to enhance risk management. Antalpha, an ecosystem partner of Tether Gold, is building a global digital-physical闭环 (closed-loop) ecosystem through market making, liquidity aggregation, and collateralized lending solutions. Institutional clients can now redeem physical gold—starting from 2kg—within one business day after completing KYC. The service supports stablecoin settlements and offers secure armored transport options. This initiative aims to combine the liquidity of digital assets with the security of physical gold, addressing traditional inefficiencies and storage risks. Expansion to other global financial centers is planned.

深潮前天 12:04

Gold Exchange Enters the Digital Era: Antalpha Launches XAU₮ Physical Gold Exchange Service in Hong Kong

深潮前天 12:04

Retail Investors Are Leaving, What Will Drive the Next Bull Market?

A significant market correction has seen Bitcoin drop 28.57% from $126,000 to $90,000, causing panic, liquidity drying up, and widespread deleveraging. However, structural positives are emerging: the U.S. SEC plans an "Innovation Exemption" in January 2026 to ease compliance, and the Federal Reserve is expected to end quantitative tightening and begin rate cuts, potentially boosting risk assets. The previous retail and leverage-driven bull cycle is unlikely to repeat. While over 200 companies hold $115 billion in crypto via Digital Asset Treasury (DAT) strategies, this represents less than 5% of the crypto market and is insufficient to fuel the next bull run. Instead, three key institutional pipelines are being established: 1. **Institutional Entry via ETFs and Infrastructure**: Global Bitcoin and Ethereum ETFs provide a standardized investment channel. Improved custody and settlement solutions (e.g., from BNY Mellon, Anchorage Digital) enable efficient capital deployment. Pension funds and sovereign wealth funds may soon allocate 1-3% to crypto, potentially moving trillions of dollars. 2. **Real World Assets (RWA) Tokenization**: Tokenizing traditional assets (bonds, real estate) onto blockchains could grow the RWA market from $309 billion today to $4-30 trillion by 2030. Protocols like MakerDAO using U.S. Treasuries as collateral bridge DeFi with traditional finance, offering stable yields and reducing volatility. 3. **Infrastructure Upgrades**: Layer 2 solutions reduce transaction costs and times, crucial for institutional scale. Stablecoins, with a $1.66 trillion market cap and $4 trillion in on-chain volume, have become pillars for cross-border payments and liquidity, especially as regulators mandate full reserve backing. Short-term, Fed policy and SEC rules may drive a speculative rebound in early 2026. Medium-term, gradual institutional capital will provide stability. Long-term, RWA integration could structurally anchor crypto to global finance, enabling sustainable, trillion-dollar growth. The market's evolution from speculation to infrastructure marks its path to maturity.

marsbit前天 19:39

Retail Investors Are Leaving, What Will Drive the Next Bull Market?

marsbit前天 19:39

Bitwise CIO: 2026 Will Be Very Strong; ICOs Will Make a Comeback

Bitwise CIO Matt Hougan argues that Bitcoin's traditional four-year cycle is weakening due to diminishing impacts of halvings, shifting interest rates, and reduced systemic risks. Instead, he emphasizes the growing influence of institutional capital, with over $15 trillion in assets from major firms like Bank of America and Morgan Stanley now entering the crypto space. Hougan expects 2026 to be a strong year, not a downturn, driven by sustained institutional adoption. He addresses concerns about sell pressure, explaining that long-term holders often use covered calls to generate yield without selling, creating hidden market pressure. MicroStrategy’s potential forced selling is dismissed as unrealistic given its strong financial position. Hougan also discusses the slow but inevitable adoption by financial advisors, the strategic diversification into major L1 blockchains like Ethereum and Solana, and the eventual resurgence of ICOs on a larger, more regulated scale. He concludes that the crypto market is at the beginning of a significant growth phase, fueled by institutional flows, improved regulation, and emerging narratives like stablecoins and tokenization.

比推前天 21:36

Bitwise CIO: 2026 Will Be Very Strong; ICOs Will Make a Comeback

比推前天 21:36

Conversation with Fidelity CEO: What Crypto Decisions Were Made in the Past Decade?

Fidelity CEO Abigail Johnson discusses the firm's decade-long journey into crypto, starting with curiosity-driven exploration in 2012-2013. Initial efforts included Bitcoin mining and accepting crypto donations for charity, building early credibility. Custody emerged as a key service due to client demand for secure inheritance solutions. Johnson highlights the importance of regulatory progress, like the Genius Act, and Fidelity’s push for stablecoin innovation—eventually launching tokenized money market funds for yield. She emphasizes internal culture: encouraging curiosity, rapid iteration, and calculated risk-taking. While acknowledging Bitcoin’s enduring role as a "gold standard," she sees hybrid solutions bridging traditional and crypto finance as the near-term future. The firm prioritizes building strategic capabilities in-house while remaining open to collaboration.

marsbit昨天 01:10

Conversation with Fidelity CEO: What Crypto Decisions Were Made in the Past Decade?

marsbit昨天 01:10

Coinbase Says the Crypto Market Has Hit ‘Reset’—And December Could Be the Turning Point

Coinbase's latest report indicates the crypto market has undergone a significant "reset" after two months of bearish pressure, with institutional speculation declining from 10% in November to around 4-5% currently—a level the exchange considers stable. Key metrics show reduced leverage, lower open interest in BTC/ETH/SOL perpetual futures, and substantial outflows from U.S. spot Bitcoin and Ethereum ETFs. Historically, December has been a bullish month for crypto, averaging 25% returns during bull markets. While 2025 has defied seasonal trends so far, Coinbase suggests the market’s cleaner structure—with fewer leveraged positions—could set the stage for a potential recovery. Factors like a possible Fed rate cut, ETF rebalancing, and new altcoin ETF launches may support a rebound, though macro uncertainties remain.

ccn.com昨天 08:31

Coinbase Says the Crypto Market Has Hit ‘Reset’—And December Could Be the Turning Point

ccn.com昨天 08:31

U.S. Stablecoin Regulatory Framework Finalized, Global Crypto Finance Enters New Institutionalized Phase

The United States has enacted its first federal regulatory framework for stablecoins, marking a pivotal moment for the global cryptocurrency industry. This framework transitions stablecoins from a state of fragmented oversight to a unified federal system, establishing clear legal definitions and operational standards for dollar-pegged payment stablecoins. Key provisions mandate that stablecoin issuers must hold high-quality liquid assets—such as cash and short-term U.S. Treasury securities—as reserves. They are also required to comply with strict auditing, transparency, risk management, and consumer protection rules. The regulatory structure adopts a dual approach: larger issuers will be overseen at the federal level, while smaller ones may fall under state jurisdiction. This development is expected to significantly enhance the role of stablecoins like USDC and USDT as critical infrastructure for cross-border payments, settlements, and decentralized finance (DeFi). By providing legal certainty, the framework is likely to encourage greater adoption by traditional financial institutions, payment companies, and fintech firms, integrating stablecoins more deeply into the mainstream financial system. However, the new rules also present challenges. Higher compliance costs and operational requirements may pressure smaller issuers and could lead to industry consolidation. The shift emphasizes regulatory-driven competition over innovation-driven growth. Furthermore, global regulatory disparities remain, as jurisdictions worldwide have differing definitions and standards for stablecoins, potentially creating friction in international flows. Overall, this U.S. regulatory move signals a structural shift from an enforcement-led approach to a rules-based system for digital assets. It is seen as a maturation of the industry, setting the stage for stablecoins to evolve from crypto trading tools into foundational components of the future digital financial ecosystem, including in cross-border trade, retail payments, and financial market settlements.

cointelegraph_中文昨天 11:16

U.S. Stablecoin Regulatory Framework Finalized, Global Crypto Finance Enters New Institutionalized Phase

cointelegraph_中文昨天 11:16

Bitcoin ETFs See $4 Billion Outflow! Altcoin ETFs Defy Trend, Attracting $1.3 Billion as New Capital Locks on XRP and Solana

Summary: In November 2025, Bitcoin and Ethereum spot ETFs experienced significant outflows totaling over $4 billion, while the first wave of altcoin ETFs, particularly those tracking XRP and Solana, attracted approximately $1.3 billion in new capital. This divergence highlights a shift in institutional investment strategies amid a broader market downturn. XRP ETFs gathered $676 million with almost no outflows since launch, and XRP’s price rose 7.2% in November, supported by clearer regulatory conditions, a narrative shift toward cross-border payment utility, and competitive fee structures. Solana ETFs attracted $918 million with about $613 million in net inflows, despite SOL’s price dropping 29.2%. These ETFs offered 6-8% annualized staking yields, appealing to investors seeking returns even during price declines. In contrast, Litecoin and Dogecoin ETFs saw minimal interest, with combined inflows under $8 million, reflecting their weaker fundamental narratives and lack of use cases in institutional portfolios. This trend suggests that the market is moving beyond broad altcoin sentiment and is now evaluating projects based on regulatory clarity, real-world utility, cash flow potential, and ecosystem activity. The approval and performance of altcoin ETFs are acting as a stress test, separating assets with long-term viability from those reliant on speculation. The data indicates that institutions are not merely rotating into altcoins but are selectively allocating to tokens with defensible value propositions, even in a bear market. The emergence of altcoin ETFs has introduced a more transparent, rigorous framework for evaluating crypto assets, emphasizing sustainable fundamentals over hype.

cointelegraph_中文昨天 11:27

Bitcoin ETFs See $4 Billion Outflow! Altcoin ETFs Defy Trend, Attracting $1.3 Billion as New Capital Locks on XRP and Solana

cointelegraph_中文昨天 11:27

Institutional Dominance in the Crypto Market: The End of Decentralization or the Dawn of a New Era?

In 2025, institutional investors now account for approximately 95% of cryptocurrency inflows, while retail participation has declined to just 5–6%, marking a structural shift in the market. According to Aishwary Gupta of Polygon Labs, this transition is driven by maturing infrastructure rather than sentiment. Major asset managers like BlackRock and Apollo are allocating portions of their portfolios to digital assets via ETFs and on-chain tokenized products, leveraging blockchain for yield generation and operational efficiency. Gupta highlights that institutional adoption is progressing in two phases: first, through yield-bearing products like tokenized treasuries and regulated staking, and second, via efficiency gains such as faster settlement and programmable assets. While retail interest waned due to meme coin losses, he expects gradual return as more transparent, regulated products emerge. Addressing concerns about centralization, Gupta argues that institutional involvement can enhance blockchain’s without compromising decentralization, provided infrastructure remains open. He envisions a future financial system where DeFi, NFTs, and traditional assets coexist on public chains. Although compliance may limit some experimentation, it fosters more sustainable innovation. Increased institutional participation is expected to reduce volatility and accelerate growth in areas like real-world asset tokenization and cross-chain interoperability. Ultimately, this trend signifies crypto’s evolution from a speculative asset to a core component of global finance.

marsbit13小时前

Institutional Dominance in the Crypto Market: The End of Decentralization or the Dawn of a New Era?

marsbit13小时前

Tether, Binance, Circle Collectively Pivot to Abu Dhabi, Making It the Global "Crypto Heart"

Major crypto giants Tether, Binance, and Circle have recently secured key regulatory approvals in Abu Dhabi, signaling a strategic shift of institutional crypto capital toward the emirate. Tether’s USDT gained recognition as an “Accepted Fiat Reference Token” across nine major blockchains, granting it a regulated status for institutional use. Circle obtained a Financial Services Permission (FSP) and appointed a Visa veteran to lead its regional expansion. Binance received three separate licenses for exchange, custody, and OTC services, and will adopt a new compliant three-entity operational structure by 2026. Abu Dhabi Global Market (ADGM), operating under a robust common-law framework, offers a clear and efficient regulatory environment tailored for institutional players—contrasting with Dubai’s retail-focused approach and slower Western regulatory processes. Backed by sovereign wealth funds like Mubadala, which has invested in Binance, ADGM is positioning itself as a global hub for compliant digital asset infrastructure, bridging traditional finance and crypto. With a $16 billion expansion plan for its financial district, Abu Dhabi is emerging as a new epicenter for regulated crypto finance.

marsbit13小时前

Tether, Binance, Circle Collectively Pivot to Abu Dhabi, Making It the Global "Crypto Heart"

marsbit13小时前

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