Late at night, I came across the announcement from Yunfeng Finance, and honestly, I was trembling.

A top-tier capital big shot has really taken action — $44 million directly swept up 10,000 ETH. The announcement also left a line saying, "This allocation is just the beginning," and that they will build a so-called mainstream crypto asset reserve. This signal is much more intense than the recent hype around concept stocks.

To clarify for newcomers: the cost per ETH was around $4,400, which corresponds precisely to the days in mid-August when ETH dropped back to the $4300–$4500 range. This entry timing is so professional it gives one goosebumps.

More importantly, the nature of the money. The financial report clearly states it uses self-generated cash flow, with no leverage or external financing. This platform manages over 200 billion yuan, and its shareholders include Yu Feng and a certain internet godfather-level figure. An institution of this size converting real gold into digital assets definitely isn't a casual experiment.

So why ETH and not other cryptocurrencies? It must be linked to recent regulatory developments in Hong Kong — the "Stablecoin Regulations" took effect on June 1, and in July, the exchange officially announced they would develop an RWA tokenization platform.

(The original text cuts off here, but the logic is clear: the institution's choice of ETH is highly related to Hong Kong's compliance environment and the development of RWA infrastructure.)