Cryptocurrency exchange Kraken has launched a new derivatives product, introducing simplified perpetual contracts it calls “Kraken Perps.” The contracts, now available in select regions to eligible clients worldwide, allow users to speculate on crypto price movements without owning the underlying asset. “Perps are trading instruments designed to let users speculate on future price movements, up or down, without owning the asset involved,” the exchange explained. The mechanics remain rooted in derivatives trading. To open a position, users fund trades with collateral from their Kraken balance. At launch, USD serves as the supported collateral, with other assets expected to follow. Traders then choose whether to increase or decrease exposure to a chosen cryptocurrency’s price. The exchange said it will roll out educational resources to help users understand the mechanics and risks involved. Still, the choice of sports betting analogies has prompted debate about whether retail clients will fully grasp the leverage and volatility embedded in such instruments. Kraken Perps are reportedly live in select regions for eligible clients, with plans to expand access. The company framed the product not as a call to day-trade, but as another tool for expressing market views and building portfolio strategies. The contracts, now available on Kraken Pro, operate without expiry, distinguishing them from standard FX products that follow set trading hours or maturities. According to Kraken, the mechanics of the FX perps are modeled on its existing crypto perpetual contracts, aiming to provide a familiar trading experience for its user base.
For investors integrating generative AI into asset management, best practices are structured internal data, prompt engineering, targeted workflows focused on specific use cases, and vertical AI champions in departments such as equities and fixed income
Bernstein Research has identified 10 best practices for investors integrating generative AI into asset management, emphasizing the importance of structured data, targeted workflows, and measurable outcomes. The brokerage emphasizes the need for clean, structured internal data, prompt engineering, centralizing data, breaking down daily workflows into specific use cases, and developing vertical AI champions. To scale AI effectively, firms should prioritize top use cases, structure offsite exercises, and engage in regular knowledge-sharing sessions within teams. Developing vertical AI champions in departments such as equities, fixed income, legal, or compliance ensures solutions remain close to real use cases. Dedicated AI talent is also needed, with some firms assigning specific team members to focus on AI tools or hiring external specialists. Tools like Daloopa and ModelML are cited for model automation and internal data integration. Early engagement with implementation partners or adopting ready-made AI tools can speed progress without requiring deep technical expertise. In the future, organizations should prepare to work with hybrid teams of humans and artificial intelligence, requiring robust data infrastructure and governance. Clear metrics to evaluate Gen AI’s impact include operational efficiency, error rate reduction, time to generate insights, volume of AI-generated ideas, and comparisons with human output. Success in portfolio management can be assessed by time saved during scenario analysis and the frequency of bias avoidance in decisions post-AI implementation.
JPMorgan says ETF and treasury demand propel Ether as funds draw near‑bitcoin July inflows; prospects of SEC‑permitted staking of spot ETF will unlock mainstream yield access
Ether (ETH) has outperformed bitcoin (BTC) over the past month, buoyed by strong inflows into spot exchange-traded funds (ETFs) and growing corporate treasury allocations, Wall Street bank JPMorgan (JPM) said in a report. The move comes in the wake of U.S. stablecoin legislation (the GENIUS Act) and ahead of an anticipated vote on a broader crypto market structure bill by the end of September, the report said. In July, spot ether ETFs saw record inflows of $5.4 billion, nearly matching bitcoin ETF inflows over the same period. While bitcoin ETFs have posted modest outflows in August, ether funds continue to attract capital, JPMorgan noted. The bank’s analysts pointed to four main factors behind ether’s recent strength. Investors are betting the Securities and Exchange Commission (SEC) will eventually permit staking for spot ether ETFs, which would turn them into yield-generating products while lowering technical barriers for participation. Corporate demand is also rising, the analysts noted, with about 10 publicly traded firms now holding ether equal to a total of 2.3% of the circulating supply. Some of these companies may seek additional income through staking or decentralized finance (DeFi) strategies. JPMorgan suggested ether holdings in both ETFs and corporate treasuries could rise further, pointing to bitcoin’s higher share of circulating supply locked up across both categories as a benchmark.
Coinchange and Utila deliver an institutional‑grade, custody‑agnostic yield‑as‑a‑service, blending enterprise wallet controls with multi‑strategy CeFi/DeFi returns for treasury and fintechs
Coinchange, the digital-asset management platform for institutional yield, announced a strategic collaboration with Utila, the secure, all-in-one digital asset operations platform for institutions. Coinchange has recently joined Utila’s ecosystem and will leverage its institutional wallet infrastructure to power compliant, multi-strategy yield offerings for businesses worldwide. This collaboration enables Utila’s institutional customers to access Coinchange’s comprehensive suite of yield-as-a-service offerings, providing secure, compliant, and customizable digital asset yield strategies for treasury management and portfolio optimization. Coinchange and Utila jointly deliver an approach that combines Utila’s enterprise-grade custody and controls with Coinchange’s institutional yield strategies to provide secure, transparent, and risk-managed returns. Key Value for Utila Clients: Institutional-Grade Yield: Coinchange’s multi-strategy engine delivers risk-managed returns across CeFi and DeFi, designed for treasury, fintech, and institutions. Compliance First: Regulatory-ready architecture aligned with FATF, MiCAensures yield products can be deployed responsibly at scale. Comprehensive Asset Support: Yield generation across USDC, USDT, BTC, ETH, and other major digital assets with daily liquidity and transparent pricing. Flexible Delivery: Custody-agnostic models via Utila wallets let institutions define compliance, reporting, and payout workflows while Coinchange powers the yield backend. Operational Efficiency: Daily liquidity, audit-ready reporting, and seamless treasury integration simplify adoption for financial institutions and fintech platforms.
Buffered ETFs gaining traction by offering partial downside protection, that shields investors from a set percentage of losses, typically 10% to 20%, over a fixed period in exchange for capped gains, with the terms reset at the end of each outcome window
Buffered ETFs, also known as defined outcome products, have gained traction in recent years by offering partial downside protection in exchange for capped gains. Each fund is structured to shield investors from a set percentage of losses, typically 10% to 20%, over a fixed period. In return, gains are limited, and the terms reset at the end of each outcome window. Buffered ETFs struggled to gain traction after their late 2018 debut — and for good reason. From 2019 through 2021, the S&P 500 returned an average of 24% annually, leaving little appeal for products that cap upside. But a sharp downturn in 2022 changed the equation. With the index falling nearly 20% that year, investors poured nearly $10 billion into buffered ETFs, breathing new life into the once-overlooked product. During times of declining equities, investors often rely more heavily on bonds. But in recent years that strategy hasn’t always worked out, according to Charles Champagne, head of ETF strategy at Allianz Investment Management. “When you have an equity and fixed income portfolio, if equities are in a tougher market, you expect your fixed income to offset those losses, and that just really hasn’t happened in the past [couple of years],” Champagne said. “So these products really help in that capacity.” To build buffered ETFs, issuers like Allianz use options to shape both downside protection and upside limits. They start by buying a deep-in-the-money call to mirror market exposure. Then, to create the buffer, they buy an at-the-money put and sell an out-of-the-money put, defining how much loss the fund will absorb. To offset the cost of this protection, they sell a call option, which in turn sets the cap on gains. This options mix allows issuers to offer defined outcomes over a set time frame, typically one year.
AI-powered AI “sandboxes” let advisors pre‑test client reactions with synthetic demographics, agentic AI, and compliance‑ready guardrails before campaigns or pricing go live
The emerging world of AI-powered simulation sandboxes could provide an opportunity test how a client would react to a message before it’s even sent. With AI simulation sandboxes, which EY Consulting’s Sameer Munshi, head of behavioral science and simulation, compared to crystal balls, advisors can “recreate” any demographic in the world via synthetic data and agentic AI. “It’s recreating the parameters of a human,” he said. “It’s decoding human behavior based on how you describe it.” Once that simulation is set up, Munshi said advisors can interact with these “people” in a qualitative conversation, posing targeted questions in order to test what messaging — or even a new price point — resonates with a particular client population. The immediate benefits of the AI simulation sandbox are obvious, said Munshi. “The power of this technology is understanding what investors or consumers actually want, even if it’s not a perfect correlation to what exists today from a research perspective,” he said. “The fact that you can get it in days instead of months is going to completely change how we think about research.” Compliance is an important use case for AI-powered simulation environments, said William Trout, director of securities and investments at technology data firm Datos Insights. In terms of investment suitability, simulations could test portfolio recommendations against diverse client profiles, ensuring recommendations truly serve client interests rather than advisor compensation structures, he said. The next step for firms considering adoption of these sandboxes is to begin with a narrow pilot program that uses nonsensitive data. For example, an advisory team could test how an AI-generated client reacts to a quarterly market commentary before distributing it. While AI adoption among financial advisors has increased dramatically in 2025, the specific concept of comprehensive simulation environments for testing client reactions is “pretty nascent,” said Trout, who has not seen many deployed use cases for AI-powered simulation sandboxes in wealth management. Such sandboxes enable risk-free experimentation with client interactions, marketing strategies and portfolio recommendations in controlled environments, said Trout. “They accelerate client growth by helping advisors identify high-potential prospects and refine outreach strategies that improve conversion rates and retention,” he said. “Enhanced productivity comes from offloading routine tasks like meeting preparation, follow-ups and client research to AI agents, allowing advisors to focus on high-value relationship building and strategic planning.” Another example of how advisors can use sandboxes is determining whether to raise fees, and if so, how much, said Munshi. Advisors can also use the technology to decide how to invest in ads, said Munshi. The sandboxes also provide continuous learning opportunities through data generation that trains models and refines strategies over time, said Trout.
WisdomTree launches a tokenized private credit fund CRDT with $25 minimum and two‑day redemptions, tracking 35 CEFs, BDCs, and REITs on‑chain.
WisdomTree has launched a new tokenized fund focusing on private credit. The new fund, called the WisdomTree Private Credit and Alternative Income Digital Fund (CRDT), tracks a basket of 35 publicly traded closed-end funds, business development companies, and real estate investment trusts. It’s available with a minimum investment of just $25 and offers two-day redemption. WisdomTree, it’s worth adding, launched an ETF tracking the same benchmark in 2021, the WisdomTree Private Credit and Alternative Income Fund. Private credit, lending done outside traditional banks, has ballooned in recent years as investors chase yield-focused investment options. “It’s really just about bringing the asset class to a whole universe of different investors,” said Will Peck, head of digital assets at WisdomTree. The firm has launched a number of tokenized investment vehicles so far, including ones offering exposure to money market funds, fixed income securities, and equities.
Community banks offering digital estate planning tools are establishing a brand connection with next-gen heirs, by offering to gather and store family videos and photos
A massive generational wealth transfer is underway, with heirs moving inherited assets away from community banks 70% of the time — threatening deposit stability as over $30 trillion changes hands by 2030. Community banks are adopting digital estate planning tools — like Thomaston Savings Bank’s partnership with Paige — to help families prepare proactively and help banks retain relationships with the next generation. Adding Paige allowed the bank to scale estate planning services and make guidance more accessible. When community institutions help parents plan, and since they have the largest share of that age group, removing bad experiences enables banks to transition from a reactive to a supportive role in the estate for the next generation. Through its Paige partnership, Thomaston Savings is also doing more than covering the practicalities of estate planning; they’re reaching deeper into the relationship to establish a brand connection. Customers of Thomaston Savings can get a head start on gathering and storing family videos and photos. They can even schedule a calendar of messages for loved ones to receive in the years after they are gone. (All of these services are offered through one discounted subscription to depositors and provided via a cobranded portal from the bank’s website.) It’s not a deposit service, but community institutions are turning to partners for differentiation – especially when up against the largest nationwide banks – in services at “the edge on money,” as Alloy Labs Alliance CEO Jason Henrichs describes it. It’s about deposit effects created “looking beyond the account and the transactions for new ways to create value for the customer,” he says. “That can require partnering with technology companies that didn’t start out pursuing bank partnerships. They’ve built valuable services that created new value for customers and the banks.” Since it launched, Paige has also partnered with the American State Bank, as well as Claremont Savings Bank. These technology companies “give the service to the banks for free,” says Josh Seigel, Chairman and CEO of StoneCastle Partners, and also an investor in Paige. “There’s really no process other than vendor due diligence for banks. Customers can use this service and pay a monthly fee of approximately $2; it’s intended for individuals who don’t have an estate attorney.
Advisor CRM debuts a GenAI marketing suite that drafts LinkedIn posts, emails, and client letters in an authentic voice while automating segmentation and scheduling
Advisor CRM has launched its Gen AI Marketing Suite, a fully integrated set of free and paid tools empowers advisors to automate content creation, streamline marketing workflows, and strengthen client relationships. The Gen AI Marketing Suite includes Agents for generating Facebook and LinkedIn posts, marketing emails, client letters, press releases, and more—with new tools added weekly. With minimal training, the AI quickly learns an advisor’s tone of voice, unique value proposition, and communication style, enabling it to write marketing copy and client communications in the advisor’s authentic voice. Key features of the Gen AI Marketing Suite include: AI-powered email creation – Draft messages from scratch or with AI assistance, including suggestions for subject lines, tone, and clarity. Authenticity at scale – With minimal training, the AI learns your style and unique value proposition, writing copy in your authentic voice. Smart segmentation – Organize contact lists with custom tags (e.g., high-value clients, VIPs, new clients). Scheduling & automation – Plan email campaigns in advance with seamless scheduling tools. “Advisor CRM’s Gen AI Marketing Suite turns hours of marketing work into minutes,” said Ryan Borer, Managing Partner at Advisor CRM. “By leveraging AI, we’re not only making content creation easier but also ensuring it’s brand-consistent and client-ready. Because the system adapts to each advisor’s voice and value proposition, the marketing content it generates feels authentic, personal, and true to the advisor’s brand.”
Following EU tokenized stocks, Robinhood pursues U.S. retail access to private companies and startups via closed‑end Ventures Fund I; shares intended to trade on NYSE as RVI
Robinhood has filed an application with the U.S. SEC to launch a new publicly traded fund that will hold shares of startups. The idea behind the “Robinhood Ventures Fund I” is to allow every retail investor access to make money on the hottest startups before they go public. While the current version of the application is public, Robinhood hasn’t filled in the fine-print yet. This means we don’t know how many shares it plans to sell, nor other details like the management fee it plans to charge. It’s also unclear which startups it hopes this fund will eventually hold. The paperwork says it “expects” to invest in aerospace and defense, AI, fintech, robotics as well as software for consumers and enterprises. Robinhood’s big pitch is that retail investors are being left out of the gains that are amassed by startup investors like VCs. That’s true to an extent. “Accredited investors” — or those with a net worth large enough to handle riskier investments — already have a variety of ways of buying equity in startups. Retail investors who are not rich enough to be accredited have more limited options. There are funds similar to what Robinhood has proposed. This new closed-end “Ventures Fund I” is a more classic, mutual fund-style, approach.