Yesterday, Nasdaq-listed companies made significant breakthroughs in the field of crypto assets. Prestige Wealth Inc. created the first publicly traded treasury focused on Tether Gold through large-scale financing, while Cosmos Health continued to execute its Ethereum accumulation plan, with a single-day investment scale exceeding $150 million, marking a new phase of traditional listed companies' participation in crypto assets.

Tether Gold Treasury Innovation: Institutional-Level Gold Tokenization Solution Launched

Prestige Wealth Inc. (Nasdaq: PWM) announced the completion of approximately $150 million in collaborative transaction financing, specifically aimed at launching Nasdaq's first Tether Gold (XAU₮) treasury. This innovative treasury structure represents traditional listed companies' institutional-level recognition of tokenized gold.

The company is expected to change its name to "Aurelion Inc." and will trade under the new stock code "AURE" on Nasdaq starting October 13, 2025 (Monday). This financing plan includes approximately $100 million in private equity (PIPE) financing and a three-year, $50 million preferred debt financing, showcasing institutional investors' high confidence in this emerging asset class of gold tokenization.

The leading investor, Antalpha Platform Holding Company (Nasdaq: ANTA), subscribed to approximately $43 million, while other qualified investors included Kiara Capital with a $6 million subscription, and Tether itself participated with a $15 million investment, further strengthening market recognition of the Tether Gold ecosystem.

ETH Strategic Allocation: Cosmos Health Continues to Increase Ethereum Holdings

While Prestige Wealth advances its gold tokenization treasury, Cosmos Health Inc. (Nasdaq: COSM) announced an additional $500,000 purchase of Ethereum (ETH). This increase brings its total investment in ETH to $1.5 million, reflecting the company's long-term confidence in Ethereum as a core digital asset allocation.

This purchase is part of the company's previously announced $300 million digital asset financing plan, and the company stated it will continue to systematically increase its ETH holdings under this plan. This phased and continuous investment strategy reflects the increasingly mature risk management approach of listed companies in crypto asset allocation.

Market Insights Behind the Strategic Transformation

Aurelion (formerly Prestige Wealth) CEO Björn Schmidtke provided an in-depth interpretation of the company's strategic transformation: "I have long been optimistic about Bitcoin and believe we need a stablecoin that can combat inflation and is stable enough to be used for everyday necessities like paying electricity bills. Some people describe Bitcoin as digital gold; however, I believe Tether Gold (XAU₮), a redeemable stablecoin backed by gold, is the true digital gold."

Schmidtke, who previously served as chairman and founder of South America's leading Bitcoin mining company, Penguin Group, lends industry credibility to his advocacy for tokenized gold. He further elaborated: "Through the Aurelion treasury, we are setting a new standard: a publicly traded, fully backed, and verifiable gold digital reserve that can be validated on-chain daily. In a world where capital is digitized and markets are continuously volatile, having a real value base in the form of tokenized gold can provide certainty for individuals and institutions."

Evolution of Institutional Participation Models: From Single Allocation to Ecosystem Building

The actions of these two Nasdaq-listed companies represent a significant evolution in the model of institutional participation in the crypto asset market. From the early days of simple Bitcoin allocation, it has expanded to today's diversified allocations in tokenized gold and Ethereum, indicating a deepening understanding and involvement of institutions in the crypto ecosystem.

Notably, the Aurelion treasury plans to generate leveraged returns through debt financing and utilize its unencumbered gold holdings to create income. The company plans to provide its unencumbered gold holdings to Antalpha as collateral to generate an annualized return of 50-100 basis points, while Antalpha will bear all default risks arising from using this collateral to provide loans to its end clients. This structure offers a new perspective on traditional treasury management.

Transparency Innovation and Market Impact

In terms of transparency, Aurelion plans to launch a digital treasury dashboard that will provide regular updates on Tether Gold (XAU₮) holdings, net asset value (NAV), and treasury metrics. This initiative aims to provide investors with on-chain verifiable transparency, contrasting sharply with the lack of real-time verification typically associated with traditional gold investments, potentially setting a new transparency standard for the entire precious metals investment industry.

Meanwhile, Cosmos Health's ongoing ETH accumulation behavior also reflects the recognition of digital asset allocation by publicly listed companies in the healthcare industry, further proving that crypto assets are becoming an important component of mainstream asset allocation.

Future Outlook for Institutional Crypto Asset Allocation

Currently, institutional participation in crypto assets is characterized by diversification, structuring, and transparency. The parallel allocation of gold tokenization and mainstream cryptocurrencies provides traditional listed companies with a new path for treasury management that balances stability and growth potential.

As more listed companies adopt similar strategies and regulatory frameworks gradually improve, it is expected that more innovative crypto asset treasury solutions will emerge, further promoting the integration of digital assets with traditional finance. Aurelion's Tether Gold treasury and Cosmos Health's continued ETH accumulation may become important catalysts for this trend, providing reference cases for other listed companies.

These advancements by Nasdaq-listed companies in the field of crypto assets signify that digital assets are moving from the margins to the core, evolving from speculative tools to treasury management tools. The institutional-level allocation of gold tokenization and Ethereum not only represents the integration of technological innovation but also reflects the evolution of financial concepts, laying a new milestone for the deep integration of traditional finance and the crypto economy.

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