Hong Kong has transitioned Project Ensemble from sandbox testing to live pilot operations, enabling real-value transactions with tokenized deposits and digital assets. The Hong Kong Monetary Authority announced the initial focus will include tokenized money-market fund transactions and real-time treasury management. Interbank settlements will utilize the HKD Real Time Gross Settlement system.

Harvard University raised its stake in BlackRock's IBIT spot bitcoin ETF to 6.8 million shares valued at $442.8 million as of September 30, according to regulatory filings. The holding expanded 257% from 1.9 million shares reported in June. IBIT now represents Harvard's largest declared US investment, surpassing positions in Microsoft, Amazon, and the SPDR Gold Trust.

Cboe Global Markets will introduce perpetual-style bitcoin and ether futures contracts on December 15, pending regulatory approval. The products feature 10-year expirations, daily cash adjustments, and operate on a 23×5 trading schedule, offering US-regulated long-term crypto exposure without requiring position rollovers.

The defunct Mt. Gox exchange moved 10,608 BTC valued at approximately $956 million to an unmarked wallet on Monday evening, data show. The transfer sent 10,422 BTC to an unidentified address and 185 BTC to the exchange's hot wallet. The purpose of the transaction remains undisclosed, though similar movements have historically preceded creditor distributions.

Securities and Exchange Commission Chair Paul Atkins has outlined a 12-month regulatory agenda prioritizing cryptocurrency oversight and expanding retail investor access to alternative investments, according to TD Cowen's Washington Research Group. The agency plans to advance rules clarifying its stance on digital assets, including tokenized securities and cryptocurrencies classified as securities. Proposals are expected soon to enable finalization by 2027.

JPMorgan has raised its estimated support level for bitcoin to approximately $94,000, reflecting increased production costs driven by higher network difficulty. The bank continues to project a six to twelve month upside target of around $170,000, based on bitcoin's volatility-adjusted valuation relative to gold. With bitcoin trading near $102,300, the price-to-production-cost ratio stands slightly above 1.0, a level that has historically provided support during previous market cycles.

El Salvador purchased 1,090 BTC on November 18, 2025, bringing its total holdings to 7,474 BTC valued at approximately $676 million. The acquisition occurred as bitcoin fell below $90,000, marking its lowest level since April. The purchase raises questions about compliance with the country's $1.4 billion IMF loan agreement, which prohibits new bitcoin acquisitions by public entities.

Bitdeer Technologies Group's stock dropped more than 30% this week after third-quarter earnings missed investor expectations. The bitcoin mining company reported 174% year-over-year revenue growth to approximately $170 million and positive adjusted EBITDA of $43 million. Market participants had anticipated significant announcements regarding AI infrastructure initiatives, but the quarterly update contained only modest progress reports.

JPMorgan has launched its USD-denominated deposit token, JPM Coin (JPMD), on Base Layer 2 for institutional clients following a pilot program. The token enables 24/7 blockchain settlement while representing the bank's existing deposits. Major institutions including B2C2, Coinbase, and Mastercard have completed test transactions using JPMD.