Jpmorgan

MSCI has approved eligibility rules that could remove bitcoin treasury companies Strategy and Metaplanet from its global equity indexes after trading closes on Nov. 30. The move raises concerns over passive fund outflows from the companies’ shares, although any forced selling would not directly require sales of bitcoin.

BNY and Citadel Securities completed a transaction using tokenized U.S. Treasuries, highlighting how blockchain-based securities could help collateral move more quickly between settlement and financing. The effort comes as major financial institutions explore tokenized assets, digital cash services and longer settlement hours to support more continuous markets.

Federated Hermes plans to issue its first tokenized fund share classes in early 2027, marking a deeper move into blockchain-based investment infrastructure. The asset manager is working with Prometheum to make the products accessible through traditional brokerage and adviser channels.

JPMorgan has added Solana support to JLTXX, expanding the tokenized money-market fund beyond Ethereum. The underlying fund remains traditional, while approved investors gain another blockchain rail for regulated share transfers and potential settlement uses.

U.S. stock indices traded unevenly as demand for AI-related names lifted the Nasdaq while the S&P 500 swung around the flat line. The Dow Jones weakened as Cisco fell and rising Treasury yields pressured blue-chip sentiment.

Crude oil futures weakened as Saudi export flows through Hormuz appeared to recover, easing part of the geopolitical premium. Diesel tightness, refinery outages and unresolved regional risks continue to limit how far sellers can push the correction.

The Clarity Act fell short in the Senate, delaying a statutory market structure framework for digital assets in the U.S. Industry leaders say the setback raises durability concerns, even as regulated crypto infrastructure continues to develop.

Bitcoin remains pinned near $64K, with technical traders watching whether fading selling pressure can support a broader recovery. Corporate balance-sheet moves and weak miner fee revenue add important context as long-term holders continue to assess risk and opportunity.

Erebor Bank is in advanced talks to raise about $1.5 billion in fresh capital at a valuation of about $9.5 billion. The bank’s deposits climbed from $1.1 billion at the end of March to $4.6 billion by the end of July as it expanded services for crypto, artificial intelligence and defense-linked clients.

The Senate’s failure to pass the CLARITY Act leaves a fast-growing digital asset market operating without a comprehensive federal framework. As major financial institutions advance tokenization efforts, the debate is shifting from crypto policy to broader market resilience.

BlackRock has introduced tokenized share classes tied to European money market funds with a combined $311 billion in assets under management. The expansion underscores rising institutional interest in using blockchain infrastructure for cash management and real-world asset transferability.

Circle shares came under pressure after Morgan Stanley moved the stock to underweight and cut its price target to $38 from $106. The bank cited slower USDC growth, pressure on reserve income, and rising competition from tokenized cash products and new stablecoin models.

A group of major global banks has completed real cross-border payments using tokenized central bank reserves and commercial bank deposits in a BIS-led pilot. The test points to growing institutional interest in shared-ledger settlement as banks seek faster, more traceable international payments.

BNY is adding blockchain rails to its transfer agency business, creating an on chain ownership record for tokenized funds while maintaining existing infrastructure. Clients including Baillie Gifford, BlackRock and BNY’s Dreyfus unit are expected to use the service for tokenized fund products.

Cantor Fitzgerald and Securitize are collaborating to modernize initial public offerings through tokenization and blockchain infrastructure. The initiative is designed to let public companies raise capital and issue securities onchain while remaining within established public offering frameworks.

JPMorgan lowered earnings forecasts for Circle and Coinbase after changes tied to Hyperliquid’s USDC arrangement, pointing to near-term revenue pressure and a longer-term challenge for stablecoin economics. The bank said the structure could push the two partners into competing for USDC distribution at the expense of each other’s returns.

Bitcoin remains pinned near its 200-week moving average, a zone that has often marked the later stages of past corrections, while weekly RSI divergence is offering a more constructive medium-term signal. ETF flows have turned positive again, but weak spot demand and limited liquidity mean the broader crypto market may still struggle to break out quickly.

Securitize shares have fallen roughly 40% since the BlackRock-backed tokenization firm completed its SPAC merger. Market participants say the decline reflects post-SPAC trading dynamics and caution around recent crypto-linked public listings rather than a clear deterioration in fundamentals.

Major brokerages have begun formal coverage of SpaceX after the 25-day post-IPO quiet period expired, with most firms issuing buy-equivalent ratings. Price targets range from $205 to $800 as analysts focus on launch services, Starlink broadband and government contracts.

Cantor says Strategy’s top priority is returning its STRC preferred stock to $100, a move the bank sees as central to restarting the company’s bitcoin acquisition engine. The firm expects repeated management actions to support dividend coverage, strengthen the balance sheet and potentially benefit MSTR shares.

JPMorgan says Strategy’s new bitcoin sales policy creates “two-way” flow risk and adds avoidable uncertainty to crypto markets. The bank also wants the company to build larger cash reserves to cover dividends.

JPMorgan says it supports a U.S. framework for digital assets, but only if lawmakers close regulatory gaps instead of creating new ones. The bank is pressing for tougher safeguards on stablecoins, tokenized deposits and market integrity rules as the Clarity Act debate continues.

JPMorgan says client checks show little institutional appetite for crypto perpetual futures beyond speculation. The bank pointed to basis risk, clearing concerns, and the lack of a term structure as major hurdles.

Ric Edelman says crypto markets are being weighed down by fear, ETF outflows and regulatory uncertainty. But he argues Wall Street’s tokenization push and institutional adoption are accelerating beneath the surface.