Welcome to Kaupr Today

Good morning. Someone asked us: is it really possible to spend only 5 minutes on Kaupr Today? Yes — if you scan it for the news you care about.

We recommend that you scroll down on the newsletter, looking for the main topics. Today there are for:

• War, oil, equities and bitcoin

• Bitcoin sentiment, outlook and signals

• Traditional banks, stablecoins & tokenization

• Nordic investments, crypto & blockchains

Then go a little deeper on the stories that interest you, and dont forget to check:
Why it matters, where a lot of the real value sits.

Have a good 5-minute read,

Morten

War, oil, equities and bitcoin

Oil spike sends Asian equities tumbling as Gulf conflict fears grow

Asian markets are sliding after oil surged back above 100 dollars a barrel, with Japan’s Nikkei 225 down over 6% and South Korea’s Kospi off around 6.5% in early Monday trading as investors react to the near‑closure of the Strait of Hormuz and production cuts by key Middle Eastern producers. Brent crude has jumped about 16% to roughly 108 dollars, while WTI is up nearly 18% to just over 107 dollars amid war‑related disruptions and choked Gulf shipping.

Why it matters: Spiking energy prices and escalating geopolitical risk are reviving inflation fears and pushing back rate‑cut expectations, driving a broad risk‑off move that is hitting Asian equities and weighing on global stock futures before U.S. markets open.

Source: Japan’s Nikkei set to plunge over 7% as oil breaches 100 dollars mark, CNBC

Some Middle East oil is now over 100 dollars a barrel – here’s how it could affect bitcoin

Murban crude, a key Middle East benchmark that can bypass the Strait of Hormuz, has jumped above 100 dollars a barrel, signalling severe geopolitical stress and supply fears that may spill into global benchmarks like WTI and Brent.

Why it matters: A sustained spike in physical oil prices could tighten global financial conditions by stoking inflation fears and delaying rate cuts, pressuring risk assets like equities and bitcoin that are highly sensitive to fiat liquidity.

Source: Some Middle East oil is now over 100 dollars a barrel — here’s how it could affect bitcoin, CoinDesk

Bitcoin sentiment, outlook and signals

Bitcoin may be quiet now, but institutional flows suggest a bigger move ahead

A new analysis argues that while bitcoin’s spot price has gone quiet and remains range‑bound, institutional inflows via spot ETFs have quietly surged again, with more than 1.4 billion dollars flowing in over two weeks and BlackRock’s IBIT leading large single‑day allocations.

Why it matters: It suggests the current consolidation is being underpinned by long‑horizon institutional buyers using ETFs and OTC channels, setting up conditions where a break of key resistance levels could be driven by “stealth” accumulation rather than retail hype.

Source: Bitcoin May Be Quiet Now but Institutional Flows Suggest a Bigger Move Ahead, Bitcoin.com

Raoul Pal doubles down on “panic in a bull market” thesis

Macro investor Raoul Pal reiterates that the current crypto sell‑off feels like a classic panic within a broader bull market, arguing that nothing in his macro or liquidity framework has broken and that these drawdowns are opportunities to keep adding to long‑term positions.​​

Why it matters: It captures the emerging narrative among macro‑driven crypto investors that sharp corrections are part of the path to much higher valuations, and that risk management and conviction matter more than trying to perfectly time entries and exits.​​

Source: Raoul Pal on the current crypto panic and why he’s still buying, X / Raoul Pa

Four metrics Anton Golub tracks for crypto sentiment

Anton Golub tracks four key metrics for crypto market sentiment: spot bitcoin ETF flows, crypto venture funding, total stablecoin market cap and bitcoin treasury purchases. Right now ETF flows and VC funding are weak, stablecoin market cap is flat around 310 billion dollars, and one major strategy bought more than 5,000 BTC in February despite the drawdown.

Why it matters: This gives a simple way to look beyond price and focus on deeper liquidity and risk‑appetite signals across ETFs, venture funding, stablecoins and institutional treasuries.

Source: I explained that I track 4 metrics to measure “sentiment” of market, LinkedIn / Anton Golub

Traditional banks, stablecoins & tokenization

Bank groups ‘deeply concerned’ after Fed grants Kraken a master account

U.S. banking industry groups are pushing back after the Federal Reserve Bank of Kansas City approved a limited‑purpose (“skinny”) master account for Kraken Financial, warning that giving a crypto‑focused, non‑FDIC‑insured institution direct access to core Fed payment rails could introduce new risks to the payments system and financial stability.

Why it matters: The clash highlights how contentious access to central‑bank infrastructure has become, with banks arguing the Fed moved ahead before finalizing a broader policy framework for such accounts, while the crypto industry sees Kraken’s approval as a historic step toward putting digital‑asset banks on more equal footing with traditional institutions.

Source: Bank groups ‘deeply concerned’ after Fed grants Kraken master account, The Block

South Korea’s largest financial institution teams up with Circle on USDC

South Korea’s largest financial institution has partnered with Circle to launch a new program that lets tourists use USDC to fund Visa payments in the country, with card users receiving 5% CRO cashback on USDC‑funded transactions.​

Why it matters: The deal shows how regulated stablecoins like USDC are starting to plug directly into mainstream card networks and top‑tier banks, turning crypto dollars into everyday spending money and strengthening USDC’s position in the Asian payments market.

Source: South Korea's Largest Financial Institution Teams up With Circle To Expand USDC Payments, Yahoo Finance

The New York Stock Exchange is building a new infrastructure for the tokenized economy

Kaupr shows how NYSE is building a full digital asset layer under Wall Street, combining a 24/7 tokenized‑securities platform with Polymarket data and an equity stake in OKX to connect issuance, trading, data and payments on‑chain. ICE frames tokenized stocks, ETFs and funds, stablecoin‑based settlement and on‑chain market data as the next phase of market infrastructure, positioning NYSE for a future where more assets and workflows run on blockchain rails.

Why it matters: It connects NYSE’s tokenized‑securities venue, ICE’s work on tokenized deposits and its OKX investment into a single roadmap for a 24/7, on‑chain layer for trading, settlement, custody and capital raising.

Source: The New York Stock Exchange is building a new infrastructure for the tokenized economy, Kaup

Nordic investments, crypto & blockchains

New Nasdaq Stockholm platform will open private growth deals to public investors

Kaupr covers how Swiss family office Infinitas Capital is creating a Swedish investment platform that plans a 2026 Nasdaq Stockholm listing, bundling its private holdings into a single listed vehicle to give public investors access to high‑quality private growth companies. The company is targeting Sweden for its strong small‑ and mid‑cap culture and deep retail participation in growth stocks.

Why it matters: The structure blurs the line between public and private markets, offering everyday investors “pre‑IPO‑style” access to global growth companies through a simple, fee‑free listed share instead of traditional private funds.

Source: New investment platform on Nasdaq Stockholm will give public market investors access to private growth companies, Kaupr

Women shaping inclusive crypto in the Nordics

A new Kaupr feature recaps the 100‑minute live session “Diversity in Crypto in the Nordics 2026 – Women Shaping Inclusive Investing, Tech and Web3 Careers,” where women founders, builders, researchers and community leaders shared how to make crypto and Web3 more inclusive in investing, technology and careers. It highlights why inclusion matters for real‑world adoption, the broad ecosystem support behind the event, and key themes from the discussion, from women’s roles in savings and investments to tech careers and Web3 education.​

Why it matters: The story underlines that women are already shaping the Nordic crypto and Web3 ecosystem and that diversity is treated as a prerequisite for better products, governance and long‑term legitimacy, not just a “nice to have.”

Source: Women shaping inclusive crypto in the Nordics, Kaupr

Blockchain Sweden releases 2025 industry report on Swedish blockchain sector

Blockchain Sweden has published its 2025 industry report mapping the country’s blockchain and Web3 ecosystem, covering market size, leading companies, key use cases and policy priorities. The report highlights Sweden’s strengths in fintech, sustainability‑linked projects and public‑sector pilots, while also flagging talent, funding and regulatory clarity as critical bottlenecks for growth.

Why it matters: The report gives policymakers and industry a common fact base on where Sweden stands in the global blockchain race, and where targeted efforts are needed to unlock further innovation and investment.

Source: Blockchain Sweden releases industry report 2025 on Swedish blockchain industry

What to watch for

Watch how long oil stays above 100 dollars and whether Brent and WTI keep climbing after the Gulf shipping shock, as Asian equities extend steep losses with Japan and South Korea indices down more than 6–7% and circuit breakers kicking in. Also track whether bitcoin and other risk assets can hold recent levels as markets re‑price inflation and rate‑cut expectations around the Iran war and Strait of Hormuz disruption.

Why it matters: A sustained oil spike plus deepening Asia equity rout would tighten global financial conditions faster than expected, raising the risk that the next leg lower in risk assets is driven more by macro stress than by crypto‑specific newsflow.

Share Kaupr Today

Thank you for reading Kaupr Today. If you find this briefing useful, please share it with a colleague or friend who should be following Nordic and European digital‑finance news more closely. Wishing you a great Monday — and welcome back on Tuesday morning for the next edition of Kaupr Today.

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Best regards
Morten Myrstad
Founder & Editor