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Crypto Trading Firm Keyrock Buys Luxembourg's Turing Capital in Asset Management Push
Crypto Trends

Crypto Trading Firm Keyrock Buys Luxembourg's Turing Capital in Asset Management Push

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Crypto trading firm Keyrock said it's expanding into asset and wealth management by acquiring Turing Capital, a Luxembourg-registered alternative investment fund manager.

The deal, announced on Tuesday, marks the launch of Keyrock’s Asset and Wealth Management division, a new business unit dedicated to institutional clients and private investors.

Keyrock, founded in Brussels, Belgium and best known for its work in market making, options and OTC trading, said it will fold Turing Capital’s investment strategies and Luxembourg fund management structure into its wider platform. The division will be led by Turing Capital co-founder Jorge Schnura, who joins Keyrock’s executive committee as president of the unit.

The company said the expansion will allow it to provide services across the full lifecycle of digital assets, from liquidity provision to long-term investment strategies. “In the near future, all assets will live onchain,” Schnura said, noting that the merger positions the group to capture opportunities as traditional financial products migrate to blockchain rails.

Keyrock has also applied for regulatory approval under the EU’s crypto framework MiCA through a filing with Liechtenstein’s financial regulator. If approved, the firm plans to offer portfolio management and advisory services, aiming to compete directly with traditional asset managers as well as crypto-native players.

“Today’s launch sets the stage for our longer-term ambition: bringing asset management on-chain in a way that truly meets institutional standards,” Keyrock CSO Juan David Mendieta said in a statement.

Read more: Stablecoin Payments Projected to Top $1T Annually by 2030, Market Maker Keyrock Says



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Pantera Capital CEO Predicts Bitcoin Might Hit $1 Million During His Lifetime
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Pantera Capital CEO Predicts Bitcoin Might Hit $1 Million During His Lifetime

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During a recent appearance on CNBC, Dan Morehead, chief executive officer at US-based cryptocurrency fund Pantera Capital, predicted that the price of Bitcoin could potentially surge to as high as $750,000 within the next four years. 

Morehead is not sure when BTC will be able to hit the oft-repeated $1 million target, but he is certain that this will eventually happen during his lifetime. 

Morehead has recalled that Pantera Capital was actually the very first Bitcoin fund in the world. “That was the easiest way to get access then. Now, an ETF is very easy,” he said.  

Notably, Panteral Capital’s first price target for Bitcoin was $5,000. It was announced back in 2013 when the largest cryptocurrency was trading at just $104.

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Pantera Capital first predicted that Bitcoin could hit $740,000 last year. The firm initially saw the cryptocurrency reaching this target in 2028, but it also cautioned that such a prediction might be too optimistic. 

Ethereum vs. Solana

Morehead has noted that Solana has been among the best-performing major currencies, and the firm currently has its biggest position in the high-flying altcoin. 

“It’s actually had better performance than even Bitcoin over the last four years,” he noted. 

He has noted that Solana is capable of doing roughly 9 billion transitions per day, which is more than the entire capital markets. 

However, he is convinced that there is no “winner-take-all” mentality in crypto, noting that there were actually a lot of winners in the age of the internet. 

With that said, he believes that there is only a single digit of layer-1s, including Ethereum and Solana, that will be able to survive in the long term.  



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Robinhood Builds on Private Equity Token Push With New Venture Capital Fund

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Robinhood (HOOD) is moving deeper into private markets with a new venture capital fund designed to give everyday investors access to companies before they go public.

The company has filed with the Securities and Exchange Commission (SEC) an initial registration statement to launch Robinhood Ventures Fund I (RVI), a closed-end investment vehicle that aims to buy stakes in private companies that are leaders in their industries.

The fund, managed by a newly formed subsidiary called Robinhood Ventures, would be traded on the New York Stock Exchange, pending regulatory approval.

Robinhood faced criticism earlier this year after it announced that it was offering users in the European Union access to private equity tokens.

The company opened access to these tokens through tokenized shares in OpenAI and SpaceX, while also launching its own layer-2 blockchain network for users in the European Union to have access to tokenized publicly traded U.S. stocks.

At the time, the company was forced to explain that its private equity tokens were held by a special purpose vehicle, after OpenAI warned that the tokens did not represent equity in the firm. Still, the company is pushing forward with offering private equity access to retail investors.

“For decades, wealthy people and institutions have invested in private companies while retail investors have been unfairly locked out,” Robinhood Chairman and CEO Vlad Tenev said.

Robinhood pointed out that the number of public companies in the U.S. has dropped by nearly half since 2000, while the private market has ballooned to over $10 trillion in estimated value, according to Federal Reserve data.

If approved, Robinhood Ventures Fund I would invest in a small basket of private companies across various industries and hold them through IPO and beyond. Shares would be available to buy and sell through traditional brokerages.

Robinhood shares are down 1.4% in today’s trading session to $113.39.



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Capital Group Grows Bitcoin Bet to $6B Through Treasury Stock Surge
Crypto Trends

Capital Group Grows Bitcoin Bet to $6B Through Treasury Stock Surge

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Capital Group, a 94-year-old mutual fund powerhouse known for its conservative investment approach, has grown a $1 billion position in Bitcoin-related stocks into more than $6 billion.

Mark Casey, a portfolio manager with 25 years at Capital Group, led the firm’s move into Bitcoin. Casey, who describes his investment style as shaped by Benjamin Graham and Warren Buffett, has become an advocate for Bitcoin (BTC), according to a Sunday report by The Wall Street Journal.

“I just love Bitcoin, I just think it is so interesting,” Casey said during a podcast interview with venture firm Andreessen Horowitz. He called Bitcoin “one of the coolest things that has ever been created by people,” per the WSJ report.

Over the past four years, Capital Group has built its exposure primarily through investments in so-called Bitcoin treasury companies, public firms that accumulate and hold Bitcoin on their balance sheets.

Top 15 Bitcoin treasury firms. Source: BitcoinTreasuries.NET

Related: Ether vs. Bitcoin treasuries: Which strategy is winning

Capital Group’s biggest Bitcoin bet is on Strategy

Capital Group’s most notable holding is in Strategy (formerly MicroStrategy), the software firm transformed into a Bitcoin vehicle by founder Michael Saylor.

In 2021, Capital Group acquired a 12.3% stake in Strategy for over $500 million. That stake, now diluted to 7.89% due to share issuance and some trimming, is worth about $6.2 billion following a more than 2,200% surge in Strategy’s stock over five years.

Casey said he and his colleagues analyze these companies the same way they assess firms involved in commodities like gold or oil. “We view Bitcoin as a commodity,” he told the WSJ.

Capital Group’s Bitcoin exposure also includes a 5% stake in Japan-based Metaplanet, a hotel operator-turned-Bitcoin holder, and shares of mining company Mara Holdings.

Related: Bitcoin in consolidation as treasuries eye altcoins: Novogratz

Corporate Bitcoin treasuries top 1 million BTC

As Cointelegraph reported, corporate Bitcoin treasuries now hold over 1 million BTC worth more than $117 billion, according to BitcoinTreasuries.NET.

Michael Saylor’s Strategy remains the top holder with 636,505 BTC, followed by MARA Holdings with over 52,000 BTC. Newcomers like XXI and Bitcoin Standard Treasury are quickly gaining ground, while firms like Metaplanet, Bullish and Coinbase round out the top 10.

Looking ahead, companies like Metaplanet and Semler Scientific have revealed aggressive accumulation targets, aiming to acquire 210,000 BTC and 105,000 BTC by 2027, respectively.

Magazine: Bitcoin is ‘funny internet money’ during a crisis: Tezos co-founder



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Crypto Trends

On-Chain Capital Markets and Agentic Finance Are Coming

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U.S. SEC Chair Paul Atkins said crypto’s time has come, pledging to modernize the U.S. securities rulebook and expand “Project Crypto” to bring markets on-chain.

Speaking in Paris on Sept. 10 at the OECD’s inaugural Roundtable on Global Financial Markets, Atkins said the SEC is shifting away from enforcement-driven policymaking and will provide clear rules for tokens, custody, and trading platforms. “Policy will no longer be set by ad hoc enforcement actions,” he said, calling the new approach “a golden age of financial innovation on U.S. soil.”

Atkins said most tokens are not securities and promised bright-line rules for determining when crypto assets fall under SEC oversight. He said entrepreneurs must be able to raise capital on-chain without “endless legal uncertainty” and pledged a framework for platforms that integrate trading, lending, and staking under one license. Custody rules will also be updated to allow investors and intermediaries multiple options.

The SEC chair said Project Crypto would clear the way for tokenized securities, new on-chain asset classes, and decentralized finance software, while ensuring investor protections. He also highlighted the potential for “super-app” trading platforms and stressed the importance of keeping innovation in the United States.

Atkins first unveiled Project Crypto on July 31, 2025, in Washington, framing it as the SEC’s “north star” in supporting President Trump’s goal of making the U.S. the world’s crypto hub. His Paris remarks expanded on that agenda, outlining more details on custody, capital formation, and platform rules.

Atkins’ remarks came two days after Nasdaq President Tal Cohen posted on LinkedIn that tokenization is an “extraordinary opportunity” for global markets. Cohen said Nasdaq had filed with the SEC to enable trading of tokenized securities, underscoring how major institutions are moving toward blockchain adoption.

Beyond crypto, Atkins addressed foreign company listings, accounting standards, and European regulation. He raised concerns over “double materiality” in EU reporting laws, urged stable funding for the IASB, and said the SEC may revisit its 2007 decision to allow IFRS without reconciliation to U.S. GAAP if funding issues persist.

The SEC chair also highlighted artificial intelligence as a force that could fundamentally reshape financial markets. He described a shift toward “agentic finance,” where autonomous AI systems could execute trades, allocate capital, and manage risk at speeds no human can match, with compliance embedded directly into their code.

Such systems, he said, could deliver faster and cheaper markets while opening advanced strategies to a broader set of investors. Coupled with blockchain infrastructure, these tools could empower individuals, increase competition, and unlock new growth.

Atkins cautioned, however, that regulators must provide “commonsense guardrails” without overreacting out of fear. He argued that on-chain capital markets and AI-driven finance are on the horizon, and that America must choose leadership to ensure the next generation of financial innovation takes root at home.

Atkins concluded by saying regulators must strike a balance between innovation and investor protection. “Crypto’s time has come,” he said, adding that U.S. markets should lead the next wave of financial innovation rather than watching it unfold overseas.



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Cameron and Tyler Winklevoss at the White House on July 18, 2025. (Jesse Hamilton/CoinDesk)
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Hong Kong’s Central Bank May Ease Capital Rules on Banks Holding Crypto: Report

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The Hong Kong Monetary Authority (HKMA) has circulated plans for easing the capital requirements for banks holding cryptocurrencies, local financial news outlet Caixin reported on Wednesday.

The central bank released a draft paper for public comment with a view to clarifying the guidance on capital regulation for crypto assets, which will be implemented early next year.

The drafted guidelines focus on lowering bank capital requirements if issuers can take appropriate measures to prevent and respond to risks, according to the report.

Hong Kong has emerged as one of the world’s hubs for advancing the cryptocurrency industry through a more helpful regulatory regime. Its long-awaited guidance on stablecoins came into effect last month following a rush of applications from prospective issuers.

A switch to more lenient capital requirements for banks holding crypto could help cement Hong Kong’s status further as a global leader for crypto adoption.

The HKMA did not respond to CoinDesk’s request for comment.



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Taiwan Venture Capital Firm to Create $1 Billion Bitcoin Fund to Support Asia Treasuries

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In brief

  • Sora Ventures aims to raise $1 billion to help bolster Bitcoin treasuries in Asia
  • The firm seeks to accumulate a further $800 million for BTC over the next six months. 
  • Last year, Sora invested in Metaplanet, the largest Bitcoin treasury firm in Asia.

Crypto venture capital firm Sora Ventures aims to raise $1 billion to help bolster Bitcoin treasuries in Asia, the firm announced on Friday. 

Starting with $200 million from partners and investors, the firm seeks to accumulate a further $800 million for BTC over the next six months. 

“This is the first time that Asia has seen a commitment of this magnitude toward building a network of Bitcoin treasury firms, with capital commitment towards Asia’s first $1 billion treasury fund,” said Sora partner Luke Liu in a statement. 



The firm said its fund will act differently from other Bitcoin investment vehicles in the region, like the publicly traded firm Metaplanet, which holds 20,000 BTC worth more than $2.2 billion on its balance sheet. 

Instead, Sora’s fund will act as a “central pool of institutional capital designed to both support these existing firms and fuel the creation of similar treasuries globally,” the firm said. 

Sora Ventures did not immediately respond to Decrypt’s request for details on exactly how its fund will operate. 

The Taiwan-based firm aims to put Asia on par with western markets as it comes to institutional adoption of Bitcoin. 

“Asia has been one of the most important markets for the development of blockchain technology and Bitcoin. We have seen a rise in interest from institutions investing in Bitcoin treasuries in the U.S. and EU, while in Asia efforts have been relatively fragmented,” said Sora founder Jason Fang in a statement. 

“This is the first time in history that institutional money has come together, from local to regional, and now to a global stage.”

Last year, Sora invested in Metaplanet, the largest Bitcoin treasury firm in Asia. In July, the firm participated in an acquisition of Thailand’s DV8, a publicly traded firm now undertaking a Bitcoin treasury model. 

The Bitcoin treasury phenomenon first started with Michael Saylor and his business software firm Strategy in 2020. Now more than 300 entities hold the top crypto asset on its balance sheet, with more than 3.7 million BTC accounted for, according to data from BitcoinTreasuries.net. 

Bitcoin is up 1.2% in the last 24 hours and trading at $110,842. 

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Metaplanet Shareholders Vote on $884M Capital Raising Plan Amid Fundraising Crunch

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In brief

  • Metaplanet shareholders reportedly approved an $884 million overseas share sale, according to Reuters.
  • The Tokyo meeting authorized preferred stock issuance potentially worth $3.8 billion, with Eric Trump attending as strategic adviser.
  • The firm’s stock-dependent “flywheel” financing mechanism has “slowed” after both Metaplanet’s stock and Bitcoin slumped in price.

Metaplanet Inc. shareholders reportedly approved an $884 million capital raising proposal on Monday, as the Japanese Bitcoin treasury company battles a financing crunch triggered by its stock plummeting 54% since mid-June.

Three people who attended the extraordinary shareholder meeting in Tokyo’s Shibuya district confirmed the capital-raising plan passed, according to Reuters.

The proposal allows Metaplanet to sell up to 550 million new shares overseas alongside issuing preferred stock.

The financing scramble threatens to derail CEO Simon Gerovich’s Bitcoin accumulation strategy, which has faced challenges after the firm’s stock-dependent “flywheel” financing mechanism “slowed,” according to Mark Chadwick, a former Jefferies analyst cited by Bloomberg.



A “door to fragility”

With Bitcoin trading near $109,000 and Metaplanet’s stock declining, Ray Youssef, CEO of p2p crypto app NoOnes, told Decrypt that the divergence shows “the moment you mix it in corporate equity with elements like leverage, warrants, and financial tricks, you open up a door to fragility that Bitcoin itself doesn’t have.”

While the preferred shares approach could enable Metaplanet to buy time, the market could still see it as a “desperate move,” he added.

Metaplanet’s declining stock has allegedly damaged its financing arrangement with Evo Fund, which relied on rising share prices to trigger warrant exercises that funded Bitcoin purchases.

This arrangement, known as the “flywheel,” has slowed down, reducing the capital available for Bitcoin purchases, according to Bloomberg. The firm’s holdings grew less than 50% since June compared to a 160% surge in the prior two months.

Decrypt has reached out to Metaplanet for comment, and will update this article should the firm respond.

Despite its funding challenges, Metaplanet announced during Monday’s meeting that it had acquired 1,009 BTC for approximately $112.2 million, bringing its total holdings to 20,000 BTC and achieving a “BTC Yield of 486.7% YTD 2025.”

Metaplanet has acquired 1009 BTC for ~$112.2 million at ~$111,162 per bitcoin and has achieved BTC Yield of 486.7% YTD 2025. As of 9/1/2025, we hold 20,000 $BTC acquired for ~$2.06 billion at ~$103,138 per bitcoin. $MTPLF pic.twitter.com/JUlF8gUUh2

— Simon Gerovich (@gerovich) September 1, 2025

The purchase makes Metaplanet the world’s sixth-largest public Bitcoin treasury company, surpassing Riot Platforms, according to Bitcoin Treasuries.

Eric Trump, who joined Metaplenet as a strategic adviser in March, attended the meeting alongside Gerovich, calling him “the one leading the front in all of Asia,” while comparing him to Strategy’s Michael Saylor.

The company also unveiled its new mission during the meeting: “Pioneer a new theory of credit in Japan; [create] instruments built upon over-collateralized, absolutely scarce digital capital.”

Metaplanet’s Bitcoin goals

Metaplanet’s goal is to own 210,000 BTC by 2027, but Youssef warned the runway is running short.

“If they fail to raise capital, they can forget about their 100,000 BTC by 2026 dream,” he said. “At that point, Metaplanet becomes just another leveraged play that promised and then broke the promise.”

But Metaplanet has increased its percentage of Bitcoin per share by 2,274% over the past year, compared to Strategy’s 86% increase, according to notes from the meeting.

The firm was recently upgraded to mid-cap status in FTSE Russell’s September review, earning inclusion in major global indices.

Metaplanet Inc. (TYO:3350) closed at $5.65 (¥831) on Monday, down 5.46%, after trading between $5.44–$5.92 (¥828–¥900), according to Google Finance.

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Bitcoin OG Sells Another 4,000 BTC To Buy Ethereum – Capital Rotation Intensifies
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Bitcoin OG Sells Another 4,000 BTC To Buy Ethereum As Capital Rotation Intensifies

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

After setting a new all-time high of $124,500, Bitcoin is now battling to hold the $115,000 level as support. The bulls, who dominated just days ago, are struggling to spark a fresh rally, leaving the market in a delicate phase. While fundamentals such as institutional adoption and strong holder demand continue to support the broader uptrend, capital flows suggest a new dynamic is at play.

Several analysts note signs of capital rotation from Bitcoin into altcoins, a pattern that often marks transitions between phases of the market cycle. Ethereum, in particular, is emerging as a major destination for this shift.

Adding to the intrigue, on-chain intelligence firm Lookonchain has been tracking the movements of a long-dormant Bitcoin OG whale, who has reawakened with extraordinary activity. On Friday, the whale deposited 300 BTC ($34.86 million) into Hyperliquid to sell for Ethereum. His bold strategy is paying off: he’s now sitting on over $100 million in unrealized profits.

The whale currently holds a 135,265 ETH ($581M) long position at a $4,295 average entry, up $58 million, and also accumulated 122,226 ETH ($535M) spot at a $4,377 average, up $42 million. This aggressive rotation underscores a pivotal moment—one where Bitcoin consolidates, but altcoins, led by Ethereum, may capture the spotlight.

Bitcoin OG’s Bold Rotation Into Ethereum

According to Lookonchain, the mysterious Bitcoin OG whale continues to dominate market headlines with aggressive on-chain moves. Most recently, he transferred another 4,000 BTC (~$460 million) into exchanges, where the funds were converted into Ethereum. This marks yet another large-scale repositioning that has captured the attention of analysts and investors alike.

Bitcoin OG Transactions | Source: Lookonchain

So far, the whale has accumulated a staggering 179,448 ETH (~$806 million) at an average price of $4,490, alongside a 135,265 ETH ($581 million) long position that remains open. These bold allocations underscore a decisive rotation strategy away from Bitcoin and into Ethereum, suggesting a bet on ETH’s outperformance in the coming phase of the cycle.

The implications are significant. On one hand, such a massive capital shift highlights growing institutional-style conviction in Ethereum as it pushes through all-time highs and challenges Bitcoin’s dominance. On the other hand, it raises concerns about short-term volatility.

Analysts warn that despite the bullish outlook, a shakeout may occur before sustained gains materialize. With leverage in derivatives markets climbing and liquidity thinning in spot trading, sharp pullbacks could easily flush out overextended positions.

Bitcoin Vs. Ethereum: Weekly Chart Analysis

The ETH/BTC weekly chart shows Ethereum gaining significant ground against Bitcoin after a long downtrend that lasted from mid-2022 to early 2025. ETH has now rallied to the 0.041 BTC level, posting strong bullish candles and reclaiming key moving averages. The 50-week SMA (blue) has just been broken to the upside, and price is testing the 100-week SMA (green), an important resistance zone. If ETH manages to sustain momentum above this level, the next key target lies near the 200-week SMA (red) around 0.055 BTC.

Ethereum shows strength against BTC | Source: ETHBTC chart on TradingView

This rotation is especially important because ETH has been underperforming Bitcoin for over two years. The recent surge signals a potential capital rotation from BTC into ETH, a trend reinforced by large institutional buys and whales shifting positions into Ethereum.

On the downside, if ETH/BTC faces rejection at the current resistance, the pair could retest support around 0.035 BTC, which aligns with previous consolidation. However, momentum indicators suggest strength is currently with Ethereum.

Featured image from Dall-E, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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Bitcoin Demand Cools While “Crypto Capital is Getting More Selective,” OKX’s Gracie Lin Warns

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Good Morning, Asia. Here’s what’s making news in the markets:

Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk’s Crypto Daybook Americas.

Bitcoin steadied in Asia Thursday at $114,610 (+1.4%), clawing back some ground after last week’s slide, while ether outpaced with a 5.8% jump to $4,370.73 as investors rotated selectively across the market.

The CoinDesk 20, a measure of the performance of the largest crypto assets, is up 3.5%, trading above 4,078.

OKX Singapore CEO Gracie Lin said in a note to CoinDesk that the rising ETH/BTC ratio shows capital shifting into ether’s relative strength while Bitcoin consolidates.

“Crypto capital is getting more selective,” Lin told CoinDesk.

She stressed that this is not a broad “altseason,” but a targeted move into ETH as macro catalysts like the Jackson Hole conference and U.S. inflation data loom.

Fresh figures from CryptoQuant underline why Bitcoin’s rally has cooled. Apparent demand has dropped from 174,000 BTC in July to 59,000 BTC today, while ETF inflows have slowed to their weakest since April,” the firm wrote in a recent report.

Profit-taking remains heavy, with whales realizing $2 billion in gains on Aug. 16 alone, bringing total realized profits since July to $74 billion. CryptoQuant analysts now classify the market as in a “bullish cooldown” phase, with $110,000 flagged as an important support level.

In a note to CoinDesk, analysts at Enflux, a Singapore-based market maker noted that retail enthusiasm for altseason has dropped sharply compared to last week, even as strategic bets like BNB hitting all-time highs and Hyperliquid’s operational strength continue to draw capital.

“This indicates that the altcoin market is no longer a uniform beta trade, as macro conviction is forming, but more selective and concentrated, also on the institutional side,” the firm said.

The result is a market less defined by broad rallies and more by selective winners, with ETH setting the tone as capital stays in crypto but moves with sharper focus, favoring resilience over speculation.

Market Movers

BTC: Bitcoin edged up 1.4% to just above $114,000 while U.S. stocks slipped, and altcoins showed unusual resilience as BTC dominance nears a six-month low.

ETH: Ether outperformed bitcoin, climbing 5.8% as traders rotated into majors despite slowing BTC demand.

Gold: UBS raised its gold price target to $3,600 per ounce in Q1 2026, citing the strongest bullion demand since 2011 driven by U.S. macro risks, de-dollarization, and heavy ETF and central bank buying.

S&P 500: The Nasdaq fell 0.68% and the S&P 500 slipped 0.26% Wednesday as investors rotated out of tech stocks into sectors like energy, healthcare, and consumer staples ahead of the Fed’s Jackson Hole symposium.

Elsewhere in Crypto

  • Winklevoss Twins Heave $21M Toward Republicans in Next Year’s Congressional Battles (CoinDesk)
  • Crypto firms urge UK to form national stablecoin strategy to avoid falling behind U.S. (CNBC)
  • BitMEX Founder, Pardoned by Trump, Joins Longevity-Hacking Craze (Bloomberg)



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