Stocks

On Dec. 10, 2025, Ripple CTO David Schwartz outlined six pain points investors face when buying private-company shares through secondary brokers. He highlighted opaque pricing, insider advantages, and extended right-of-first-refusal and approval processes. He also said buyers face fees of 5% for themselves and 5% for sellers, which are included in the buyer’s final cost.

Bitwise CIO Matt Hougan said Strategy will not be forced to sell its Bitcoin as MSCI reviews digital asset treasury companies. He cited JPMorgan, which estimates index funds could sell up to $2.8 billion of MSTR if Strategy is excluded. MSCI's final decision is set for January 15, he said. Hougan added debt service is covered by $1.4 billion in cash, with the first maturity in February 2027.

The UK Financial Conduct Authority set out retail investment reforms, replacing EU PRIIPs disclosures with a Consumer Composite Investments framework and revising client classifications. The CCI rules, covering products held by about 12.5 million UK adults, will take effect in June 2027. Professional clients will lose consumer duty protections, while individuals with at least £10 million ($13.3 million) in cash may opt out.

SK Hynix said in a Wednesday regulatory filing that it is considering a New York ADR listing to help narrow its valuation gap with U.S. chipmakers. The move comes after a year-to-date share price gain of almost 240%, with the stock closing at $402.87. The company also reported record third-quarter earnings and stronger AI server demand in late October.

Circle obtained authorization from Abu Dhabi Global Market to run USDC-related money services on 9 December 2025. The company appointed former Visa executive Saeeda Jaffar to lead growth across the Middle East and Africa. Abu Dhabi continues licensing firms including Tether, Ripple, Binance and Bybit.

US spot Bitcoin ETFs posted a net outflow of $60.48 million on Monday, with BlackRock's IBIT taking in $28.76 million while GBTC and FBTC shed $44.03 million and $39.44 million respectively, according to SoSoValue. Spot Ethereum ETFs recorded a $35.5 million net inflow the same day. XRP ETFs have amassed more than $900 million since launching last month, including $38.04 million in inflows on Monday.

The US Securities and Exchange Commission has ended its multi‑year investigation into New York–based tokenization platform Ondo Finance without bringing enforcement action, removing a major legal overhang for the firm, according to the company. The probe, launched in October 2023 under former SEC Chair Gary Gensler and carried into 2024, examined whether certain tokenized real‑world assets and the ONDO token complied with federal securities laws. With the case now closed, market focus is shifting to how quickly regulators will issue detailed rules that could support large‑scale tokenized equity and bond offerings in the US.

On December 9, 2025, Fitch Ratings cautioned that U.S. banks expanding into crypto and digital-asset services face reputational, liquidity, operational, and compliance risks that could weigh on their ratings. The report cited initiatives at large institutions including JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo. It highlighted that rapid stablecoin growth may threaten financial stability and affect U.S. dollar and Treasury markets. Moody's has likewise flagged systemic risks if USD-linked stablecoins see widespread adoption.

From 2024 through mid‑2025, investors are combining regulated Bitcoin ETFs with self‑custody. Multiple months saw $4B–$6B in spot ETF inflows, with net assets nearing $140B by July 2025, according to SoSoValue. AMBCrypto reported 171 negative days in 2025 and over 1 million BTC held by corporate treasuries.

On Dec. 8, 2025, Strategy said it purchased 10,624 BTC, one of its largest weekly buys in recent months, funded mainly with new MSTR common stock and STRD preferred equity. It now holds 660,624 BTC at an average cost of $74,696 per coin. MSTR trades around $178 near a one‑month low amid continued equity dilution and an upcoming MSCI index decision.