Today, the cryptocurrency market continues to consolidate at high levels. Bitcoin has seen a pullback after reaching $120,000, currently oscillating around $118,000, with increasing short-term divergence between bulls and bears; Ethereum remains in a narrow range around $3,700, showing a technical retracement after previous increases.

Meanwhile, cryptocurrency assets are accelerating their integration into the traditional financial system. SEALSQ Corp, a public key infrastructure developer listed on NASDAQ, has announced the establishment of a cryptocurrency investment fund with a scale of approximately $30 million, focusing on allocating mainstream assets such as BTC, ETH, and HBAR. This fund will serve as a strategic funding tool for the company, operating similarly to investing in bonds or stocks, reflecting the company's long-term recognition of the value of digital assets.

In terms of regulation, The Korea Herald reported that the Financial Supervisory Service (FSS) of South Korea recently requested local asset management companies to adjust their ETF investment portfolios, limiting equity exposure to cryptocurrency-related companies such as Coinbase and Strategy. This directive is based on the administrative guidelines issued by the Financial Services Commission (FSC) of South Korea in 2017, which prohibits regulated financial institutions from directly or indirectly investing in equity related to virtual assets.

This move has sparked backlash in the industry, with some financial institutions criticizing this regulation for creating “unequal competition” with retail investors—who can still access related targets through US stock ETFs. In response, the Financial Supervisory Service stated that even if regulatory policies in the US and South Korea change in the future, institutional investors must still comply with current regulations until new laws are enacted.

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