AllScale 2026-10-16 Crypto x Macro Daily
1. BlackRock’s digital asset AUM grew 63% quarter over quarter, driven by both prices and inflows
BlackRock disclosed to the SEC that its digital asset assets under management totaled $79.632 billion at the end of September, up approximately 63% from $48.839 billion at the end of June. The category recorded net inflows of $7.907 billion in the third quarter. The increase in AUM was significantly higher than net inflows, indicating that the rebound was driven by both subscriptions and asset price appreciation, rather than solely by new allocations. This means traditional asset management channels are continuing to expand their capacity to accommodate crypto assets. However, rising AUM does not necessarily mean a sustained inflow of stable capital. When assessing institutional demand, net flows, price movements, and fee revenue should be considered separately.
2. South Korea tightens financial cybersecurity, ushering in a period of greater accountability for trading platforms
South Korea’s Financial Services Commission reported that recent cyberattacks affected 16 financial institutions, with an estimated 100,000 customer records exposed. Of the 555 institutions inspected, 130 had deficiencies in areas such as patching, monitoring, or external access controls. The affected institutions included two crypto firms. Regulators plan to strengthen CEO and board accountability and raise requirements for vulnerability checks and continuous monitoring. This means security investment and compliance costs will rise for exchanges, payment institutions, and custodians. Network isolation, identity verification, vendor management, and incident disclosure will become new barriers to entry.
3. Ondo TVL surpasses $4 billion, as RWA expansion enters a period of scale validation
Ondo announced that the total value locked in its products has surpassed $4 billion, including more than $1.3 billion in tokenized stocks and ETFs, around $3 billion in tokenized U.S. Treasuries, and over 1 million holders in total. Growth has come from expanding products beyond U.S. Treasuries to stocks, ETFs, portfolios, and private markets, as well as broadening distribution through multiple chains and wallet channels. This indicates that demand for RWAs has moved beyond single-asset yield products toward a broader range of assets. However, TVL represents the scale of assets held in custody or issued; it is not equivalent to protocol revenue or token value. Going forward, redemption efficiency, verification of underlying assets, cross-chain risks, and regulatory boundaries will need to be monitored.
The information above is compiled from public sources and does not constitute investment advice.
1. BlackRock’s digital asset AUM grew 63% quarter over quarter, driven by both prices and inflows
BlackRock disclosed to the SEC that its digital asset assets under management totaled $79.632 billion at the end of September, up approximately 63% from $48.839 billion at the end of June. The category recorded net inflows of $7.907 billion in the third quarter. The increase in AUM was significantly higher than net inflows, indicating that the rebound was driven by both subscriptions and asset price appreciation, rather than solely by new allocations. This means traditional asset management channels are continuing to expand their capacity to accommodate crypto assets. However, rising AUM does not necessarily mean a sustained inflow of stable capital. When assessing institutional demand, net flows, price movements, and fee revenue should be considered separately.
2. South Korea tightens financial cybersecurity, ushering in a period of greater accountability for trading platforms
South Korea’s Financial Services Commission reported that recent cyberattacks affected 16 financial institutions, with an estimated 100,000 customer records exposed. Of the 555 institutions inspected, 130 had deficiencies in areas such as patching, monitoring, or external access controls. The affected institutions included two crypto firms. Regulators plan to strengthen CEO and board accountability and raise requirements for vulnerability checks and continuous monitoring. This means security investment and compliance costs will rise for exchanges, payment institutions, and custodians. Network isolation, identity verification, vendor management, and incident disclosure will become new barriers to entry.
3. Ondo TVL surpasses $4 billion, as RWA expansion enters a period of scale validation
Ondo announced that the total value locked in its products has surpassed $4 billion, including more than $1.3 billion in tokenized stocks and ETFs, around $3 billion in tokenized U.S. Treasuries, and over 1 million holders in total. Growth has come from expanding products beyond U.S. Treasuries to stocks, ETFs, portfolios, and private markets, as well as broadening distribution through multiple chains and wallet channels. This indicates that demand for RWAs has moved beyond single-asset yield products toward a broader range of assets. However, TVL represents the scale of assets held in custody or issued; it is not equivalent to protocol revenue or token value. Going forward, redemption efficiency, verification of underlying assets, cross-chain risks, and regulatory boundaries will need to be monitored.
The information above is compiled from public sources and does not constitute investment advice.