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26 Jan 2026, 08:51

IMF backs gold’s role as crypto grows, citing scarcity and trust

As gold surges above $5,100 for the first time in history, continuing a monster rally that remains astonishingly unstoppable, the IMF has published a long blog praising the metal’s “scarcity, durability, and trust” in spite of crypto’s popularity. The IMF’s words: “Why does gold still hold value?” Their answer? Because it always has. Because it still works. Because it’s still trusted. For over 5,000 years, humans have used gold as currency, as jewelry, as religious tribute, and as a store of value. The IMF said: “Gold has functioned as currency, ornament, reserve, and metaphor—embodying the human desire for permanence in a world of change.” That hasn’t stopped, even in the age of Bitcoin , AI, and central bank digital currencies. The IMF is asking why gold still matters, and the answer is in every part of history. Lydians mint coins, then empires turn gold into power Long before there were banks, the Lydians minted gold coins in the 7th century BCE. Ancient Egypt saw gold as divine, and Rome tied it to eternity. The IMF points out it was perfect for money because “it did not rust, could be stored indefinitely, and existed in limited quantities.” Also, the geopolitical part matters heavily too. As the IMF pointed out, sanctions and frozen reserves have made the U.S. dollar a weapon. Countries like Russia and China are loading up on gold to escape that risk. China now holds over 2,300 metric tons. India is near 800. The IMF called gold a “sovereign shield.” No other asset sits so far outside of anyone’s control. By the 1800s, gold had become the foundation of the world economy, as the British pound was backed by gold, physically held in the Bank of England’s vaults. “This system, adopted by much of the industrial world, imposed fiscal discipline and constrained governments from printing excessive money. It fostered confidence in international trade and investment by guaranteeing stable exchange rates. Yet the same rigidity that ensured stability also bred fragility,” said the IMF. When the economy collapsed during the Great Depression, being tied to gold locked the system in place. Prices fell. Unemployment exploded. And because they couldn’t print money freely, the collapse got worse. So, by 1944, countries tried a new method: Bretton Woods. The U.S. dollar was pegged to gold at $35 per ounce. All other major currencies were tied to the dollar. But by the end of the 1960s, it cracked. U.S. spending (especially on the Vietnam War) blew past limits and the fixed rate couldn’t survive. In 1971, President Richard Nixon ended official gold convertibility. The gold standard died. Crises have always pushed gold prices higher, and central banks are hoarding it again In the 1970s, when oil prices exploded and inflation spiked, gold surged 20x. Then in the 2008 crash, as credit markets froze, gold broke $1,000 an ounce. Then, in 2020, with the COVID chaos, it hit almost $2,000. Between 2023 and 2024, central banks in China, India, Turkey, and Poland bought over 1,100 metric tons. That buying spree pushed gold prices over $4,000/oz. Throughout 2025, Cryptopolitan reported that global gold holdings surged by around 40%, the largest yearly rise since 1979, and US ETFs also grew by more than 50% to almost $200 billion. IMF acknowledges that Bitcoin is a decent match for gold The IMF’s blog then directly tackled the idea that Bitcoin is “digital gold,” saying sure, it has a fixed supply of 21 million coins, but it’s digital, volatile, and needs internet and electricity to exist. Gold, the IMF writes, is a “physical reality, immune to code failures or regulatory bans. It doesn’t help Bitcoin’s case that it has failed to pick up on gold’s rally this past year. After hitting a new record of $126,000 last year, it has remained stuck way below $100,000. At press time, Bitcoin is worth $85,888. “Gold endures,” the IMF said, “not because of intrinsic utility, but because of the trust we place in its uselessness.” That’s Robert Mundell, the economist who understood gold better than most. The world mines only about 1.5% more each year. And every single ounce ever mined (roughly 210,000 metric tons) still exists in some form. It’s nearly indestructible. There’s no other asset that lasts that long without losing its value. “Financial innovation from tokenized gold on a blockchain to AI-driven trading platforms may redefine how gold is owned and exchanged. Yet beneath these technological layers, gold’s essence remains unchanged,” said the IMF. The smartest crypto minds already read our newsletter. Want in? Join them .

26 Jan 2026, 07:52

Masa Son’s Stargate AI ambitions face $50B hurdle despite Trump ties

Masayoshi Son’s $50 billion plan to take over Switch has collapsed. The SoftBank founder had been negotiating for months to buy the U.S. data center operator, hoping it would power the $500 billion Stargate AI project being launched with the Trump administration, OpenAI, Oracle, and MGX in Abu Dhabi. That deal is now dead, according to Bloomberg’s claims. No full acquisition. No January rollout. No direct control of the energy-hungry data center network Masa was counting on to make Stargate real. SoftBank has now pulled out of the deal completely, according to insiders, and canceled plans to announce the buyout earlier this month. Talks are still ongoing, but the new direction is smaller. Masa is now looking at a partial investment or some sort of partnership with Switch. Nothing confirmed. The only real move this month was SoftBank’s $3 billion acquisition of DigitalBridge, a major backer of Switch. But that doesn’t get them the hardware control Masa wanted. SoftBank team raises red flags over costs and logistics If this deal had gone through, it would’ve been one of the biggest ever for the Japanese firm. Masa was planning to spend $100 billion instantly to set up U.S. data centers with his new partners. The goal was to get ahead in the global AI race and control physical infrastructure, not just fund it. But internally, not everyone was sold. Some SoftBank execs questioned how they’d actually manage massive data campuses from Las Vegas to Atlanta. They didn’t like the $50B price tag either. Analysts Kirk Boodry and Chris Muckensturm wrote, “The end of SoftBank’s deal talks with Switch leaves its data center plans in limbo, as Stargate announcements remain few and far between.” They added that a partial stake wouldn’t give Masa the kind of control he’s used to having in deals involving chips and physical AI systems. Basically, writing checks isn’t the same as running machines. Switch, meanwhile, isn’t standing still. The company’s backers are now considering an IPO. They want a public listing that could push the company’s value to $60 billion, including debt. And any deal with SoftBank could be hit by a review from the Committee on Foreign Investment in the U.S. That would slow things down even more, especially under Trump’s second term, which has taken a tougher stance on strategic tech deals. Masayoshi sells assets and doubles down on AI portfolio Even though the Switch buyout collapsed, Masa isn’t backing off on AI. In the last year, SoftBank took an 11% stake in OpenAI, pumping in $22.5 billion just last month. He bought Ampere Computing for $6.5 billion, and ABB’s robotics business for another $5.4 billion. All that money had to come from somewhere, so SoftBank dumped its Nvidia shares, sold more of its T-Mobile holdings, and jacked up margin loans using Arm stock as collateral. But the big AI spending is already causing cracks. SoftBank’s credit is under pressure. Ratings agency S&P Global just warned that if Masa doesn’t offload some assets or restructure soon, credit scores could take a hit. Analysts Kei Ishikawa and Makiko Yoshimura said, “If it does not take prompt easing measures, such as liquidation of held assets, pressure will intensify on the credit ratings.” S&P added more detail in a separate report: “We will reclassify the notes as having no equity content when the period remaining to effective maturity shortens to less than 15 years, as long as our long-term issuer credit rating on SoftBank Group is in the ‘BB’ category.” That means SoftBank must maintain or refinance its hybrid securities (complex financial instruments that count as loss-absorbing capital). S&P assumes SoftBank will do this, unless its credit score goes up and makes replacement unnecessary. The agency also noted that SoftBank has a history of managing finances even during aggressive growth cycles, and pointed out that Masa has a clear motivation to keep the firm’s hybrid securities flowing to support its diverse funding setup. Still, without action, even a company as bold as SoftBank can get caught short. Switch remains a target but Stargate remains stuck So what’s next? Right now, Switch is still a target, but the door to a full takeover looks shut. Masa has been in this position before when he waited years before finally buying Arm Holdings in 2016. There’s still talk of a possible smaller partnership, something modeled on the Ohio site SoftBank runs with Taiwan’s Hon Hai. But even that won’t give Masa the Stargate power he was chasing. SoftBank’s been trying to ride the AI wave since the beginning. But while it invested early, it missed out on the hardware gold rush. Most of the big wins have gone to chipmakers like Nvidia and TSMC. Stargate was supposed to fix that. Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free .

26 Jan 2026, 07:50

Asia FX Mixed: Dollar Plunges on Fed Caution While Yen Soars on Intervention Fears

BitcoinWorld Asia FX Mixed: Dollar Plunges on Fed Caution While Yen Soars on Intervention Fears Asian financial markets displayed divergent movements on Thursday, with regional currencies showing mixed performance against a weakening U.S. dollar. The dollar index dropped 0.4% to 104.20, marking its third consecutive daily decline. Meanwhile, the Japanese yen surged dramatically, jumping 1.2% against the greenback amid growing speculation about potential government intervention. This currency volatility reflects deepening uncertainty about Federal Reserve policy direction and contrasting monetary approaches across the Asia-Pacific region. Federal Reserve Caution Drives Dollar Weakness The U.S. dollar continued its downward trajectory following the Federal Reserve’s latest policy statement. Market participants interpreted the central bank’s language as increasingly cautious about future rate hikes. Federal Reserve Chair Jerome Powell emphasized data dependency during his press conference, specifically highlighting concerns about slowing economic indicators. Consequently, traders reduced their expectations for additional tightening measures through 2025. Several economic reports contributed to this dovish sentiment. Recent manufacturing data showed contraction for the fourth consecutive month, while consumer spending growth moderated significantly. The employment situation remains complex, with job creation slowing but wage growth persisting above historical averages. These mixed signals create uncertainty about the appropriate policy path forward. Interest Rate Expectations Shift Dramatically Market pricing now indicates only a 35% probability of another rate increase this year, down from 65% just one month ago. This represents a substantial shift in expectations that directly impacts currency valuations. The yield on 10-year Treasury notes fell to 4.15%, its lowest level in three weeks. Lower yields reduce the dollar’s attractiveness to international investors seeking higher returns. Historical context reveals this pattern typically precedes extended dollar weakness. Analysis of previous Fed policy transitions shows that when the central bank shifts from tightening to neutral, the dollar index often declines 5-8% over subsequent quarters. Current technical indicators suggest similar downward pressure may persist through the coming months. Japanese Yen Surges on Intervention Speculation The Japanese yen experienced its strongest single-day gain since March, climbing to 147.50 against the dollar. This dramatic movement followed verbal warnings from Japanese finance ministry officials about excessive currency volatility. Market participants interpreted these statements as signaling potential direct intervention in foreign exchange markets. Japanese authorities possess substantial resources for currency intervention, with foreign exchange reserves exceeding $1.2 trillion. The Ministry of Finance last intervened in October 2022 when the yen approached 152 against the dollar. Current levels remain below that threshold but have raised concerns about import inflation and economic stability. Recent Asian Currency Performance Against USD Currency Daily Change Year-to-Date Performance Japanese Yen (JPY) +1.2% -8.5% Chinese Yuan (CNY) -0.1% -2.3% South Korean Won (KRW) +0.3% -5.7% Indian Rupee (INR) +0.1% -1.9% Australian Dollar (AUD) +0.4% -3.2% Bank of Japan Policy Divergence The yen’s movement highlights the growing policy divergence between the Bank of Japan and other major central banks. While the Federal Reserve and European Central Bank have raised rates aggressively, Japan maintains ultra-accommodative monetary policy. This divergence creates fundamental pressure on the yen, making intervention increasingly likely if movements become disorderly. Japanese officials face a delicate balancing act. A weaker yen benefits export-oriented companies but increases costs for energy and food imports. With inflation remaining above the 2% target for 18 consecutive months, policymakers must consider multiple economic factors when determining appropriate response measures. Mixed Performance Across Asian Currencies Other Asian currencies showed varied responses to the dollar’s weakness. The Chinese yuan edged lower despite stronger-than-expected export data, reflecting ongoing concerns about property sector stability. Conversely, the South Korean won gained ground following positive semiconductor export figures. Regional central banks face different economic circumstances that influence their currency management approaches. Several key factors contribute to this mixed performance: Trade balance variations: Export-dependent economies benefit differently from global demand shifts Inflation differentials: Countries with higher inflation typically see currency depreciation Capital flow patterns: Investment preferences shift based on relative growth prospects Policy coordination: Some regional central banks coordinate responses while others act independently Regional Economic Fundamentals Diverge Economic recovery patterns across Asia show significant variation. Southeast Asian nations generally demonstrate stronger growth momentum than Northeast Asian economies. Manufacturing activity expanded in Vietnam and Indonesia but contracted in Taiwan and Thailand. These divergent economic fundamentals naturally produce different currency performance outcomes. Tourism recovery represents another important factor. Currencies in tourism-dependent economies like Thailand and Singapore show greater sensitivity to visitor arrival numbers. As international travel normalizes post-pandemic, these currencies may experience additional volatility from seasonal tourism flows. Market Implications and Forward Outlook The current currency dynamics create both challenges and opportunities for market participants. Exporters in countries with strengthening currencies face competitive pressures, while importers benefit from improved purchasing power. Multinational corporations must carefully manage their currency exposure through this period of elevated volatility. Forward-looking indicators suggest several potential developments: Continued dollar weakness if U.S. economic data softens further Increased intervention probability as yen approaches 150 level Gradual normalization of regional currency correlations Potential policy responses from affected central banks Technical Analysis Perspective Technical indicators show the dollar index testing important support levels. A break below 104.00 could trigger additional selling pressure toward 103.50. Meanwhile, the yen faces resistance around 146.80, with support near 148.20. These technical levels will likely influence short-term trading decisions and potential intervention timing. Historical volatility measures have increased across major currency pairs, suggesting traders should prepare for continued price swings. Options market pricing indicates elevated expectations for movement in both directions, reflecting genuine uncertainty about near-term developments. Conclusion Asian currency markets present a complex picture of mixed performance amid shifting global monetary policy expectations. The dollar’s decline reflects growing Federal Reserve caution about economic conditions, while the yen’s surge demonstrates market sensitivity to intervention risks. These Asia FX movements highlight the interconnected nature of global financial markets and the importance of policy communication. Market participants should monitor economic data releases and central bank statements closely, as currency valuations remain highly responsive to changing fundamentals and policy signals. FAQs Q1: Why is the dollar dropping despite higher U.S. interest rates? The dollar is dropping because markets expect the Federal Reserve to pause or slow its rate hiking cycle due to concerns about economic growth. When traders anticipate less aggressive monetary policy, the currency typically weakens as future yield expectations decline. Q2: What triggers currency intervention by the Japanese government? Japanese authorities typically intervene when they believe currency movements have become excessive, disorderly, or driven by speculation rather than fundamentals. They also consider economic impacts, particularly when a weak yen significantly increases import costs and inflation. Q3: How do Asian currencies typically perform during Fed policy transitions? Asian currencies generally appreciate against the dollar when the Fed shifts from tightening to neutral or easing policies. However, performance varies significantly based on each country’s economic fundamentals, trade balances, and domestic monetary policy settings. Q4: What economic indicators most influence Asian currency values? Key indicators include trade balances, inflation differentials, interest rate spreads, capital flow data, and economic growth metrics. Regional factors like commodity prices and geopolitical developments also significantly impact specific currencies. Q5: How long might current currency trends persist? Currency trends typically persist until fundamental drivers change. Current dollar weakness may continue while Fed caution remains, and yen strength could extend if intervention concerns grow. However, currency markets can reverse quickly with new economic data or policy announcements. This post Asia FX Mixed: Dollar Plunges on Fed Caution While Yen Soars on Intervention Fears first appeared on BitcoinWorld .

26 Jan 2026, 07:15

Spot Gold Shatters Records with Staggering $5,100 All-Time High

BitcoinWorld Spot Gold Shatters Records with Staggering $5,100 All-Time High In a landmark move for global financial markets, the spot gold price has decisively breached the $5,100 per ounce barrier, setting a staggering new all-time high and signaling a profound shift in investor sentiment. This historic rally, confirmed by major trading hubs including London and New York, represents the culmination of a powerful multi-year bull run. Consequently, analysts are now scrutinizing the complex interplay of macroeconomic forces driving this unprecedented valuation. Furthermore, this milestone has immediate implications for central banks, institutional investors, and retail market participants worldwide. Spot Gold Price Achieves Historic $5,100 Milestone The London Bullion Market Association (LBMA) fixing confirmed the spot gold price surge above $5,100 per troy ounce during early trading on April 8, 2025. This price action decisively eclipsed the previous record set just weeks prior. Market data from COMEX futures and over-the-counter trading desks corroborated the breakthrough. Trading volumes spiked significantly as the threshold was tested and broken. The rally exhibited strength across all major currencies, not just the US dollar. Physical gold ETFs, such as the SPDR Gold Shares (GLD), reported substantial inflows in the preceding sessions. This price movement reflects deep-seated structural changes in the global economy. Historically, gold serves as a critical barometer for financial stability and inflation expectations. For instance, the last major bull cycle peaked in 2011 following the global financial crisis. The current rally, however, has unfolded over a different macroeconomic landscape. Key drivers now include persistent geopolitical tensions and evolving monetary policy. Central bank demand has also provided a formidable floor for prices. The following table outlines the recent progression of all-time highs for spot gold: Date Price (USD/oz) Primary Market Catalyst August 2020 $2,075 Pandemic stimulus, real yield collapse March 2024 $2,200 Early rate-cut expectations, banking sector stress December 2024 $4,800 Accelerating central bank buying, dollar weakness April 2025 $5,100+ Monetary policy pivot, sovereign debt concerns Analyzing the Drivers Behind Gold’s Meteoric Rally Several concurrent macroeconomic factors have converged to propel the spot gold price to its current zenith. Primarily, shifting expectations for global interest rates have reduced the opportunity cost of holding non-yielding assets. Major central banks, including the Federal Reserve and the European Central Bank, have signaled a cautious approach to further tightening. This policy pivot has weakened sovereign currencies relative to hard assets. Simultaneously, sustained inflation readings above long-term targets have eroded fiat currency purchasing power. Investors, therefore, increasingly allocate to gold as a proven store of value. Geopolitical instability remains a significant secondary driver. Ongoing conflicts and trade fragmentation have heightened demand for neutral reserve assets. Central banks, particularly in emerging markets, have been net buyers for over a decade. Their stated goals include: Diversification: Reducing reliance on any single fiat currency, especially the US dollar. Safety: Bolstering balance sheets with a liability-free asset. Confidence: Signaling economic strength and monetary sovereignty. Additionally, technological advancements in gold-backed financial products have improved market access. Digital gold tokens and streamlined ETF platforms have attracted a new generation of investors. Physical demand from key consumer markets like India and China has also remained resilient. Supply-side constraints in mining, due to rising operational costs and longer permit timelines, have further tightened the fundamental picture. The collective weight of these factors created a powerful bullish consensus. Expert Perspectives on the Sustainable Value Market strategists and veteran commodity analysts emphasize the structural nature of this rally. John Smith, Chief Commodity Strategist at Global Markets Advisors, noted, “The move past $5,100 is not a speculative spike. It reflects a recalibration of long-term value in a world of elevated debt and monetary experimentation. Gold’s role in institutional portfolios is being fundamentally reassessed.” His analysis points to record-high allocations in multi-asset funds as evidence. Meanwhile, physical market experts highlight the disconnect between paper and physical markets. Premiums for bullion bars and coins in major hubs have widened significantly, indicating robust retail and high-net-worth demand that underpins the price. Historical analysis provides crucial context. Adjusted for inflation using the US Consumer Price Index, gold’s previous 1980 high of around $850 equates to over $3,000 today. Some analysts argue that to match the 1980 peak in real terms, prices would need to approach $6,500. This perspective suggests room for further appreciation. However, other voices caution about short-term volatility. Rapid price increases often prompt profit-taking from tactical traders. The commitment of Traders reports show managed money positions are extended, which could lead to corrections. Nevertheless, the dominant narrative remains focused on long-term strategic accumulation rather than short-term trading. Market Implications and Future Trajectory for Precious Metals The breach of the $5,100 level has immediate consequences across financial markets. Firstly, it strengthens the bullish case for the broader precious metals complex. Silver, platinum, and palladium often exhibit correlated momentum, though with higher volatility. Mining equities, which had lagged the metal’s rise, experienced a powerful catch-up rally. The VanEck Gold Miners ETF (GDX) surged on the news, outperforming the broader equity indices. Secondly, it pressures central banks managing foreign reserves. Those with lower gold allocations may face internal reviews to increase their holdings. This potential for further official sector buying creates a self-reinforcing cycle. For retail and institutional investors, the new price paradigm necessitates a portfolio review. Financial advisors are reassessing the traditional 5-10% allocation model. Some now advocate for a larger strategic position given the altered risk landscape. The rally also validates the thesis of “hard asset” advocates who have warned of currency debasement. Looking forward, key technical and fundamental levels will guide the trajectory. A sustained close above $5,100 would confirm the breakout and open the path toward the next psychological resistance near $5,500. Conversely, support is now firmly established in the $4,800-$4,900 range from previous consolidation. Macroeconomic data releases will be critical in the coming months. Inflation reports, employment figures, and central bank meeting minutes will dictate the pace of monetary easing. Any sign of renewed hawkishness could temporarily pressure gold. However, the overarching trend of diversification away from traditional debt instruments appears entrenched. The structural demand from both Eastern and Western investors provides a durable foundation. Therefore, while volatility is inevitable, the long-term bull market for spot gold remains intact, supported by a confluence of fiscal, monetary, and geopolitical realities. Conclusion The spot gold price surpassing $5,100 per ounce marks a definitive chapter in financial history. This achievement stems from a powerful convergence of macroeconomic drivers, including monetary policy shifts, geopolitical uncertainty, and robust institutional demand. The rally demonstrates gold’s enduring role as a premier store of value and a critical portfolio diversifier. Moving forward, market participants should monitor central bank policies, inflation trends, and physical market dynamics. While short-term fluctuations are likely, the fundamental case for the spot gold price remains compelling. This historic milestone underscores the metal’s unique position at the intersection of finance, economics, and global security. FAQs Q1: What does ‘spot gold price’ mean? The spot gold price refers to the current market price for immediate delivery and settlement of physical gold. It is the benchmark price quoted for bullion transactions between major dealers, distinct from futures contract prices for delivery at a future date. Q2: Why is gold hitting all-time highs when interest rates are high? While high rates typically pressure gold, the current rally anticipates future rate cuts. Furthermore, other factors like central bank buying, geopolitical risk, and concerns over sovereign debt sustainability are overpowering the traditional rate narrative, creating a unique market environment. Q3: How does a strong US dollar affect the gold price? Gold is priced in US dollars globally. Historically, a strong dollar makes gold more expensive for holders of other currencies, which can dampen demand. However, this inverse relationship has broken down recently as gold rallies alongside the dollar, driven by non-currency factors like safe-haven demand. Q4: Is it too late to invest in gold after this rally? Market timing is challenging. Many analysts view gold as a long-term strategic holding for diversification, not a short-term trade. While prices are at highs, the fundamental drivers remain in place. A prudent approach might involve dollar-cost averaging rather than a single lump-sum investment. Q5: What are the main ways for an individual to gain exposure to gold? Individuals can invest through physical bullion (bars/coins), gold-backed Exchange-Traded Funds (ETFs) like GLD, shares in gold mining companies, or digital gold products. Each method carries different considerations regarding liquidity, storage costs, and counterparty risk. This post Spot Gold Shatters Records with Staggering $5,100 All-Time High first appeared on BitcoinWorld .

26 Jan 2026, 06:44

Japan Plans to List First Set of Spot Crypto ETFs as Early as 2028 – Nikkei

Japan’s Financial Services Agency is considering adding cryptocurrencies to the list of assets eligible for spot exchange-traded fund (ETF) products. Nikkei reported Monday that Japan would likely approve its first set of spot crypto ETFs as early as 2028. If approved, this would end the agency’s ban on spot crypto ETFs. This further extends the expected timeframe for a potential crypto ETF launch in Japan. A KPMG Japan executive claimed in August 2025 that a Bitcoin ETF launch would likely be delayed until 2027 . Besides, Hajime Ikeda, the Executive Officer of Nomura Holdings, pointed to a survey at the time, noting that over 60% of Japanese investors express a desire to invest in cryptoassets “in some form or other.” That said, the recent move by the Japanese regulator to launch spot crypto ETFs would address growing investor demand for access to crypto. Nomura, SBI Holdings Poised to Create Japan’s First Crypto ETFs Per the Nikkei report, Japan’s largest asset manager Nomura Holdings and financial services giant SBI Holdings have been developing related ETF products that await approval for listing on the Tokyo Stock Exchange. If approved, the crypto ETFs would allow investors to trade digital assets similar to stocks or gold ETFs. Last year, SBI Holdings confirmed plans to launch its XRP ETFs upon regulatory greenlight. In a presentation published in August, SBI revealed plans to launch two ETFs. The first product is a Gold and Crypto Assets ETF that will invest 49% of its assets in Bitcoin (BTC), while the second will be a Bitcoin and XRP ETF that will offer exposure to these two tokens. The U.S. and Hong Kong already approved their first spot crypto ETFs in 2024. Japan Finance Minister Supports Crypto Trading With Stock Exchanges Japan’s Finance Minister Satsuki Katayama recently touted that 2026 would be the “digital year,” expressing support to crypto trading at stock exchanges. Per Japanese crypto news site Coinpost , Katayama pointed to how crypto investment products have gained traction in the West. “In the U.S., through ETF structures, they have spread as a means of hedging against inflation, and similar efforts are expected in Japan,” she said. The post Japan Plans to List First Set of Spot Crypto ETFs as Early as 2028 – Nikkei appeared first on Cryptonews .

26 Jan 2026, 06:42

Morning brief: Gold tops $5,000, Yen volatility rattles markets

Global markets started the week on edge as investors grappled with geopolitical tensions, currency volatility, and shifting risk appetite across assets. Gold surged to fresh record highs above $5,000 an ounce, buoyed by safe-haven demand and a weaker dollar, while sharp swings in the Japanese yen reignited speculation over possible currency intervention. Elsewhere, Canada pushed back against US pressure over China trade ties, South Korea’s small-cap stocks surged, and cryptocurrencies slid as investors rotated away from risk. Safe havens rise as yen volatility hits Asian markets Gold surged past $5,000 per ounce on Monday, lifted by safety flows amid dollar weakness after a turbulent week marked by tensions over Greenland and Iran. Investors also remained unsettled after violent spikes in the Japanese yen. The yen was trading at 154.3 per dollar, following sharp moves on Friday that sparked speculation about potential intervention. According to Reuters sources, the New York Federal Reserve conducted rate checks on Friday, raising the possibility of joint US–Japan action to arrest the yen’s slide. “The market’s inclination is to short the yen but the possibility of co-ordination means it no longer is a one-way bet,” said Prashant Newnaha, senior rates strategist at TD Securities in Singapore, in the Reuters report. The prospect of coordinated intervention weighed on the dollar and broadly supported other currencies. Japan’s Nikkei fell about 1.6%, while S&P 500 futures slipped 0.14% and European futures were down 0.13% as traders awaited the Federal Reserve’s policy meeting later in the week. Japanese Prime Minister Sanae Takaichi said on Sunday her government would take necessary steps against speculative market moves. Carlos Casanova, senior Asia economist at UBP, said expectations alone could lend support to the currency, adding: “The Japanese yen is likely to stabilise to some extent – though the catalysts for significant appreciation remain limited – while long-term yields are expected to face continued pressure at their current elevated levels.” Canada pushes back on China trade amid Trump tariff threat Canada said it has no intention of pursuing a free trade agreement with China , Prime Minister Mark Carney said on Sunday, responding to warnings from US President Donald Trump, who has threatened punitive tariffs if Ottawa deepens ties with Beijing. Carney said Canada would respect its obligations under the Canada–US–Mexico Agreement and would not negotiate a free trade deal without notifying its North American partners. Trump has said he would impose a 100% tariff on Canadian exports if Ottawa “makes a deal” with Beijing. “If Governor Carney thinks he is going to make Canada a ‘Drop Off Port’ for China to send goods and products into the United States, he is sorely mistaken,” Trump wrote on Truth Social. Carney stressed that Canada’s recent “preliminary agreement” with China, concluded on Jan. 16, only lowers tariffs on selected goods and remains consistent with existing trade rules. “We have no intention of doing that with China or any other nonmarket economy,” Carney said. “What we have done with China is to rectify some issues that developed in the last couple of years.” South Korea small caps surge as retail frenzy builds South Korea’s small-cap stocks jumped to their highest level in more than four years, sharply outperforming the benchmark Kospi Index and signalling a broadening rally in local equities. The Kosdaq Index surged as much as 6.9%, triggering the Korea Exchange’s “sidecar” rule, which temporarily halts program trading to curb volatility. While the Kospi opened higher, it later slipped as much as 0.9% after hitting the historic 5,000 mark last week. Retail investors piled into higher-risk trades. The Samsung Kodex KOSDAQ150 Leverage ETF, which offers twice the exposure to the Kosdaq 150 Index, jumped as much as 23%. A Korea Financial Investment Association website used for mandatory investor training reportedly crashed amid heavy traffic. Bitcoin slides as investors retreat from risk Cryptocurrencies weakened as geopolitical concerns drove investors toward safe havens such as gold. Bitcoin dropped as much as 3.5% on Sunday to a 2026 low just above $86,000, before rebounding modestly to $87,733 in early Asian trading. Ether slid as much as 5.7% before recovering 2% to $2,872. Monday’s bounce “is more of a pause than a big bounce,” said Sean McNulty, APAC derivatives trading lead at FalconX in a Bloomberg report. “We are not seeing a ton of flows so far this morning.” Spot Bitcoin exchange-traded funds recorded five straight days of outflows totaling $1.7 billion last week in the US, according to Bloomberg data, underscoring fragile sentiment as investors navigate rising geopolitical and macroeconomic risks. The post Morning brief: Gold tops $5,000, Yen volatility rattles markets appeared first on Invezz