Stocks

On December 12, 2025 (UTC), total crypto market capitalization rose 1.9% to $3.23 trillion, with trading volume at $124 billion and 90 of the top 100 coins advancing. Bitcoin gained 2% to $92,126, while Ethereum added 1% to $3,239. US BTC and ETH spot ETFs posted outflows on December 11, totaling $77.34 million and $42.37 million, respectively.

Strategy said it submitted a formal response to MSCI's consultation and urged neutral index treatment for bitcoin-treasury firms, with the review running through Dec. 31 and potential changes in early 2026. CEO Phong Le cited a $60 trillion digital credit opportunity, while traders reference an MSTR cycle chart that projects into mid-October 2026.

On Thursday, Ark Invest purchased 124,427 Robinhood shares worth about $15.4 million across its ARKK and ARKW funds as the stock fell 9.1%. The firm also added 13,700 shares of its ARKB bitcoin ETF, roughly $417,000, and earlier on Dec. 2 bought $7.5 million of Coinbase for ARKK.

Coinbase plans to unveil a prediction market and an in-house tokenized equities product at a Dec. 17 showcase. The sector has seen rapid growth, with Kalshi and Polymarket's combined monthly volume hitting $7.7 billion in November, and Gemini and Crypto.com outlining new initiatives. Coinbase shares closed down 2.2% at $269.02 on Thursday.

BitcoinTreasuries.Net reported that, since November, corporate Bitcoin treasuries have faced sizeable unrealized losses. In a sample of 100 firms, 65% bought BTC above current market prices, leading some companies to sell part of their holdings. The report anticipates about 40,000 BTC added to public company balance sheets in Q4 2025, a tally below each of the previous four quarters.

Coinbase is preparing to introduce prediction markets and its own line of tokenized U.S. equities, with a formal unveiling scheduled for December 17. The exchange plans to issue these tokenized stocks directly rather than via partners, expanding its roadmap as on‑chain stock trading and event‑based markets gain traction.

Coinbase plans to roll out prediction markets and tokenized equities on December 17, according to a person familiar with the matter. The offering will include tokenized stocks issued in-house, rather than through external partners, the person said. A company spokesperson declined to provide details and directed users to a December 17 livestream for further information. The launch is part of Coinbase's broader effort to bundle multiple markets on a single platform.

The CBOE BZX Exchange has approved the listing of the 21Shares XRP ETF (TOXR), which charges a 0.3% annual sponsor fee. At press time, XRP was trading at $2.01 after a 2.44% daily decline as trading desks awaited remaining SEC steps for the fund’s launch, bringing the number of U.S. spot XRP funds on the market to five.

On December 11, 2025, at its first Autonomy and AI Day, Rivian unveiled a custom autonomy AI chip, a new vehicle computer, and in‑house models. RIVN fell over 4% intraday and closed down as much as 9%. Nvidia ended 2% lower. Autonomy+ is slated for early 2026 at $2,500 upfront or $49.99 per month.

On December 11, 2025, MiniMax and Zhipu said they are preparing Hong Kong IPOs, aiming to list in early 2026. MiniMax could raise hundreds of millions, while Zhipu is targeting about $300 million, according to people familiar with the matter. Both Alibaba- and Tencent-backed companies still need CSRC approval after the exchange’s review.