OSL Research Daily Brief | Jan 27, 2026

1. The crypto market rebounded this morning following US stocks, with BTC seeing a slight recovery overnight and altcoins rising generally. BlackRock continues to sell BTC, indicating persistent institutional outflow pressure. Precious metals remain strong, with silver seeing a sharp upward spike.

2. Prediction markets show the implied probability of Republicans controlling the House in 2026 has dropped to approximately 22%. A shift in the House agenda could lead to a more cautious pace and stricter scrutiny for crypto-related legislation.

3. Winter Storm "Fernan" in the US caused Foundry USA's Bitcoin mining pool hashrate to drop by about 60%, taking roughly 200 EH/s offline. Bitcoin block production slowed to 12 minutes, with other US pools also affected and over 1 million residents left without power.

4. The market cap of tokenized precious metals surpassed $5.12 billion, growing 27.73% in the past 30 days. Tether Gold and Paxos Gold both exceeded $2 billion, with monthly transfer volume doubling to over $8 billion.

5. Active loans on Ethereum lending protocols surpassed $28 billion, an approximate 10x increase from the January 2023 lows, maintaining dominance at roughly 10 times the size of the second-largest network.

6. Digital asset investment products saw outflows of $1.73 billion last week, the largest since mid-November 2025. Bitcoin saw $1.09 billion in outflows and Ethereum $630 million, while Solana recorded inflows of $17.1 million.

7. Japan's SBI Holdings has applied to launch a dual-asset crypto ETF featuring Bitcoin and XRP.

8. Japan's Metaplanet raised its performance guidance, projecting roughly $58 million in revenue and $40 million in operating profit for 2025, and $103 million in revenue for 2026. However, it expects a net loss of ~$630 million for 2025 due to Bitcoin impairment, with holdings increasing to 35,102 BTC.

9. ARK Invest bought approximately $21.5 million worth of Coinbase, Circle, and Bullish stocks last week, marking the first simultaneous purchase of all three since mid-December last year, reflecting a "buy the dip" strategy.

10. Japan's Sumitomo Mitsui Trust Group holds approximately $96.6 million in MicroStrategy (MSTR) stock, with total assets under management reaching $633 billion.