Hong Kong’s cryptocurrency exchange, HKEX, launched two new spot-based Exchange Traded Funds (ETFs), offering investors exposure to Bitcoin and Ethereum. These listings open up regulated avenues for wealth management and arbitrage, particularly in Asia. Meanwhile, Bloomberg reports that wealthy individuals across Asia are increasing their crypto holdings as market infrastructure and regulatory frameworks improve. Some professionals target a 5% allocation for digital assets, employing strategies focused on market neutrality or arbitrage opportunities. Furthermore, insider activity has raised concerns regarding YZY Token, linked to the controversial rapper Kanye West. On-chain data suggests concentrated control and potential liquidity challenges for retail investors who hold the token. Lastly, cryptocurrency derivatives markets are displaying bearish sentiment as the 180-day Bitcoin call-put skew on Deribit reached its most negative level in over two years, signaling a growing expectation of price declines with the upcoming Jackson Hole meeting.