Bitcoin Rebound Lifts Asia Crypto Stocks; Metaplanet Surges

## Catalyst Analysis: Policy Clarity Boosts Digital Asset Sentiment

The U.S. Treasury's decision to double long-duration bond buybacks, coupled with political signals favoring clearer cryptocurrency definitions, has injected significant momentum into digital asset markets and related equities. Bitcoin reached its highest level since late May, trading nearly 8% higher at $75,001.6. The policy shift suggests a potential easing of regulatory uncertainty, which has historically weighed on crypto-linked assets.

## Impact on Crypto-Related Equities

### Winners, Losers & Uncertainty

Asian crypto-linked stocks have broadly benefited from the positive sentiment. Metaplanet Inc. (TYO:3350), a Japanese firm holding approximately 43,000 bitcoin, surged more than 20% to a three-month high. Boyaa Interactive International (HK:0434) in Hong Kong saw a 17% increase, while Japanese companies Remixpoint (TYO:3825) and Monex Group (TYO:8698) gained 4.5% and 2%, respectively. Broader digital assets also advanced, with Ethereum rising over 4%.

### Risk Watch — legal/timeline; no fake EPS tables

Investors will monitor legislative progress on the Clarity Act, which aims to define regulatory roles for the SEC and CFTC. The timeline for any potential enactment and the specifics of the final legislation remain key risk factors. The U.S. Treasury's bond buyback strategy also warrants attention for its impact on liquidity and risk appetite.