Daily Market Wrap | Oct. 22

Hong Kong's SFC approved ChinaAMC's first Solana spot ETF, launching Oct. 27 on the HKEX in HKD, RMB, and USD, ahead of delayed U.S. approvals.
APAC stock exchanges like Hong Kong's and India's block companies from hoarding crypto as treasury assets due to liquid holding rules, while Japan allows them with proper disclosures.
Citi initiates Strategy (MSTR) coverage with a buy rating and $485 target, viewing it as a leveraged bitcoin bet with 63% BTC upside to $181K.

Deribit and Komainu partner to enable institutions 24/7 derivatives trading while keeping assets in segregated custody wallets, reducing counterparty risk.
XDC Network acquires Contour to revive its trade finance platform with stablecoins and tokenization, aiming to streamline documentation to settlements for banks.
Kadena Foundation ceases operations due to market conditions, leaving the blockchain to independent miners and developers, with KDA token crashing 55% to under 9 cents.

Policy and Regulation

Solana