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According to a report by Jinse Finance, citing Yicai, more than 40 companies are currently preparing to apply, including JD CoinChain, the Standard Chartered–Ant–HKT consortium, Circle Innovation, and Ant International. However, it is expected that only a single-digit number of licenses will ultimately be issued, making the competition extremely fierce. Industry insiders point out that the applicants are mainly large Chinese financial institutions and internet companies, with some firms already actively recruiting blockchain talent. Experts believe that while stablecoins can improve the convenience of cross-border payments, their actual cost is close to 1%, and the disruptive impact on the international monetary system has been exaggerated.

According to Jinse Finance, Grayscale Investments® has announced the Q2 2025 rebalancing of its multi-asset funds. The DeFi Fund has added Ondo (ONDO), with the largest allocations now being Uniswap (34.01%) and Aave (30.74%). The Smart Contract Fund has removed Polkadot and added Hedera, with Ethereum and Solana accounting for 30.22% and 29.87% respectively. The AI Fund maintains its existing assets but has adjusted their weightings, with Bittensor and NEAR Protocol representing 29.10% and 28.41% respectively. Grayscale stated that these funds do not generate income and regularly distribute fund components to cover ongoing expenses, so the number of asset components represented by each fund share will gradually decrease over time.