Majority of Institutions Expect to Double Digital Asset Exposure by 2028: State Street

Bitcoin miners are experiencing a significant rally in pre-market trading as the sector approaches a remarkable $90 billion market cap. This surge highlights the growing interest and investment in cryptocurrency, signaling a potential shift in market dynamics. As more investors recognize the value of digital currencies, the implications for the broader financial landscape could be profound, making this an exciting time for both miners and investors alike.

A recent report from State Street reveals that 69% of institutional investors are planning to increase their investments in Bitcoin and other cryptocurrencies. Currently, these investors allocate over 20% of their total assets under management to crypto, and this figure is expected to more than double in the next three years. This trend highlights a growing confidence in the crypto market and could lead to significant changes in investment strategies, making it an important development for both the financial sector and individual investors.

Vietnam is set to officially recognize cryptocurrencies, NFTs, and virtual currencies on June 14, 2025, marking a significant step in the country's approach to the rapidly growing crypto market. This move is crucial as it aims to establish regulations that ensure transparency, security, and compliance, which are essential for attracting more investors and fostering innovation in the blockchain space.

The Ethereum Foundation has announced an expansion of its privacy commitments within the blockchain ecosystem, a move that is expected to enhance user security and trust. This initiative is significant as it addresses growing concerns about data privacy in the digital age, positioning Ethereum as a leader in promoting secure transactions and user anonymity. By prioritizing privacy, the foundation aims to foster a more robust and trustworthy environment for developers and users alike.

Kazakhstan has taken a bold step in regulating its cryptocurrency market by shutting down 130 shadow crypto platforms. This crackdown is significant as it aims to create a safer and more transparent environment for investors and businesses in the crypto space. By targeting unregulated platforms, the government is not only protecting consumers but also enhancing the legitimacy of the crypto industry in the country. This move could pave the way for more robust regulations and attract legitimate investments, ultimately benefiting Kazakhstan's economy.

Coinbase has successfully activated its staking services in New York, marking a significant milestone as regulatory barriers begin to ease. This development is crucial for both Coinbase and the broader cryptocurrency market, as it allows New Yorkers to participate in staking, potentially increasing their earnings while supporting network security. The move reflects a growing acceptance of cryptocurrency in mainstream finance and could pave the way for further innovations in the sector.

In today's Asia Morning Briefing, we explore how Polymarket's POLY token could potentially enhance Oracle's capabilities in the blockchain space. This development is significant as it highlights the growing intersection of decentralized finance and traditional data services, paving the way for innovative solutions in the cryptocurrency market.

Chainalysis has uncovered a staggering $75 billion in illicit cryptocurrency that is currently sitting in publicly accessible wallets. This discovery highlights a significant opportunity for global law enforcement agencies to potentially seize these funds, which could aid in combating crime and enhancing financial security. The report, released on October 9, underscores the importance of monitoring blockchain activity and the potential for regulatory actions in the cryptocurrency space.

A recent survey by State Street reveals that 60% of institutions are considering increasing their investments in Bitcoin and other cryptocurrencies. This shift indicates a growing confidence in the crypto market, suggesting that institutional investors see potential for significant returns. As more institutions enter the space, it could lead to greater market stability and innovation, making this a pivotal moment for the future of digital assets.

A recent study by State Street reveals that institutions are planning to double their exposure to Bitcoin and other cryptocurrencies by 2028. This shift indicates a growing confidence in the crypto market and suggests that more traditional financial entities are recognizing the potential of digital assets. As institutional investment increases, it could lead to greater market stability and innovation in the crypto space, making this a significant development for both investors and the broader financial landscape.

ShapeShift has announced its integration with Zcash, allowing users to conduct shielded transactions directly on its platform. This significant development enhances on-chain privacy for traders, positioning ShapeShift among a select few platforms prioritizing user confidentiality. As privacy concerns grow in the digital space, this move not only strengthens ShapeShift's offerings but also sets a precedent for other trading platforms to follow suit.

Monad is set to launch its airdrop claim portal on October 14, a move that could significantly boost user adoption and foster growth within its ecosystem. This initiative is important as it may enhance Monad's competitive position in the rapidly evolving blockchain landscape, attracting more users and potentially increasing its market presence.

Market expert Ash Crypto has made a bold prediction that Bitcoin could soar to $180,000 and Ethereum to $12,000 by the end of the fourth quarter. Despite recent fluctuations and a pullback in prices, this optimistic outlook highlights the potential for significant gains in the cryptocurrency market. Investors are keenly watching these developments, as they could signal a recovery and renewed interest in digital assets, making it a crucial time for both seasoned and new investors.

The UK government has announced that starting in 2026, investors will be able to include cryptocurrency exchange-traded products (ETPs) in tax-free individual savings accounts (ISAs) and pension funds. This is a significant step forward for the crypto market, especially following the Financial Conduct Authority's recent decision to lift the ban on retail investors purchasing these products. While retail access may still be limited for now, this move opens up new opportunities for investors to diversify their portfolios and benefit from potential tax advantages.

The potential approval of a US SOL ETF could significantly change the landscape for Solana, possibly allowing it to outperform Ether. This development is crucial as it may enhance access, increase capital flows, and boost usage of Solana, making it a key player in the cryptocurrency market. Investors and enthusiasts alike should keep an eye on the metrics that will indicate whether Solana can indeed surpass Ether in this evolving scenario.

The price of ASTER is facing significant pressure, potentially dropping to $0.70 as bearish sentiment grows following its delisting from DeFiLlama. This decline, which has seen the token fall nearly 30% from its recent high of $2.30 to around $1.60, highlights the volatility in the cryptocurrency market and the impact of platform listings on token value. Investors should be cautious as this trend could indicate broader market challenges.

Vitalik Buterin, the co-founder of Ethereum, has recently made headlines by selling a variety of memecoins for a substantial amount of $96,000 in ETH. This move has sparked renewed discussions about his views on the memecoin sector and its implications for the cryptocurrency market. As memecoins continue to gain popularity, Buterin's actions may influence investor sentiment and the future of these digital assets.

Monero's price has fallen to $330 following the release of its Fluorine Fermi update, which aimed to enhance user privacy by protecting against spy nodes. This drop in value highlights the volatility often seen in the cryptocurrency market, especially after significant updates. Investors and users are closely monitoring the situation to see how this upgrade will impact Monero's long-term stability and user trust.