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Bitwise: Actively promoting over 20 wealth management platforms to approve cryptocurrency ETP

Bitwise analyst Ishmael Asad posted on the X platform that Bitwise is currently collaborating with over 20 wealth management platforms, with a total asset management scale of approximately $24 trillion. Bitwise is also promoting the approval of cryptocurrency exchange-traded products (ETPs) by relevant platforms so that their investment advisors can provide clients with channels for cryptocurrency allocation.Currently, among the institutions collaborating with Bitwise, 17 have approved cryptocurrency concept stock ETPs, 11 have approved Bitcoin ETPs, 6 have approved Ethereum ETPs, 6 have approved ETPs for the top ten cryptocurrency portfolios, and 2 have approved Solana ETPs, with 1 each approving Bitcoin and gold combination and XRP ETPs. Asad stated that since the first batch of spot cryptocurrency ETFs was launched in January 2024, the cumulative net inflow into cryptocurrency ETPs has been approximately $77 billion. Currently, there are over 50 spot cryptocurrency ETPs in the U.S. market, and the number is still increasing, covering BTC, ETH, SOL, AVAX, LINK, XRP, ZEC, HYPE, cryptocurrency portfolios, and more. In addition, the interest of wealth management institutions in cryptocurrency assets is also continuously growing, and the related demand is extending from ETPs to cryptocurrency trading and custody, payment, and tokenization fields.

first_img AsiaStrategy and Plume signed a memorandum of understanding to promote asset tokenization in Asia

Nasdaq-listed company AsiaStrategy (stock code: SORA) announced on October 1 that it has signed a non-binding memorandum of understanding with the institutional asset open financial platform Plume to explore the establishment of a joint venture aimed at investors in Asia and other markets outside the United States, focusing on the structuring, issuance, and distribution of tokenized financial products.According to the memorandum, Plume will provide tokenized infrastructure, technical capabilities, and regulatory qualifications, including registrations and licenses in several jurisdictions; AsiaStrategy and the broader Sora Ventures network will provide project initiation, distribution, and capital market channels for the Asian market, covering Japan, South Korea, Hong Kong, Thailand, and the United Arab Emirates. The two parties plan to first advance products that combine mature asset classes with compliant on-chain distribution, with the product range, structure, and launch sequence still under discussion, and no products have yet been launched or offered to investors.Jason Fang, Chairman and Co-CEO of AsiaStrategy, stated that tokenization will become the default method for the issuance and holding of many financial assets, with Asia leading the way. The company is registered in the Cayman Islands and headquartered in Hong Kong, with its business having expanded from luxury watch trading to Bitcoin vault management, digital asset collateralized lending, and related financing and tokenization initiatives. Plume's flagship protocol, Plume Vaults, opens assets from institutions such as Apollo, WisdomTree, and Hamilton Lane through compliant, non-custodial vaults, with investors including Apollo Global Management, Galaxy Digital, and Brevan Howard.

first_img Consensys and ClearToken plan to collaborate to promote around-the-clock settlement of tokenized securities

On October 8, blockchain software company Consensys and post-trade infrastructure company ClearToken announced a collaboration aimed at enabling banks to transfer tokenized assets and cash through 24/7 infrastructure. The two parties plan to connect Consensys's blockchain system with ClearToken's regulated post-trade entities for the settlement of eligible securities using fiat currency, tokenized bank deposits, or stablecoins.The announcement did not put a new public blockchain or settlement venue into production but outlined how the two parties plan to connect tokenization, wallets, distribution, cash flow, and the legal finality of securities settlement. Consensys will provide cryptographic finality, which is the technical certainty that on-chain transactions are immutable; ClearToken is responsible for settlement finality, which is the legal certainty that the transfer of funds or securities is final and irrevocable. ClearToken's securities custody has passed Gate 2 of the Bank of England's Digital Securities Sandbox, and its independent clearing entity still requires authorization from the Bank of England.ClearToken CSD Limited plans to convert eligible securities held by different banks into interchangeable tokenized instruments, using the same ISIN as the corresponding traditional securities. At launch, the custody plan will support FTSE 350 stocks, GBP government bonds, GBP corporate bonds, and non-GBP corporate bonds. The sandbox custody limits are set at £600 million for government bonds, £900 million for GBP corporate bonds, and £1.8 billion for non-GBP corporate bonds. The announcement did not name participating banks, networks, wallet products, or the date of the first transaction.
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