Digital asset market today September 29: After Resolution No. 5/2025/NQ-CP dated September 9, 2025 of the Government was issued on the pilot implementation of the crypto asset market in Vietnam, up to now, a series of “big guys” have joined the game.

There have been 7 big names “pouring money” to set up crypto-asset exchanges in Vietnam.

Most recently, HD Securities (HDS) has asked for shareholders’ opinions to increase capital to more than VND 5,100 billion, of which it plans to spend VND 1,470 billion to contribute capital to establish HD Crypto Asset Exchange Joint Stock Company.

Previously, many other securities companies also invested capital to establish their own legal entities to operate the floor, such as CAEX with capital contributed by VPBankS, VIXEX founded by VIX Securities and its partners, or TCEX related to the Techcombank ecosystem.

SSI has also prepared through its subsidiary SSI Digital since 2022, recently cooperating with Tether, U2U Network and AWS to build digital financial and blockchain infrastructure in Vietnam.

Not only securities companies, commercial banks also joined in. MB signed a memorandum of cooperation with Dunamu – the operator of Upbit (Korea), to support the establishment of a cryptocurrency exchange in Vietnam and transfer technology. Some other businesses such as HVA Group also revealed plans to deploy the DNEX exchange in Da Nang with a cooperation capital scale of 10,000 billion VND.

Notably, Hoa Binh Securities (HBS) and many partners contributed capital to establish VIMEXCHANGE with a charter capital of 10,000 billion VND. The dense participation of securities, banks, and technology shows that the domestic crypto asset market has entered the starting stage, promising a long race to shape the future digital capital flow.

Digital assets are not like physical assets that can be taken home and stored.

In a recent sharing, Mr. Mai Huy Tuan, General Director of SSID and Deputy General Director of Phu Quy Jewelry Group, shared that Vietnam is highly appreciated in the global blockchain community when it has many famous crypto unicorns, along with the proportion of Vietnamese people playing the role of “key member” in large projects.

Once legalized, this force can return to contribute and create more momentum for GDP. CEO SSI Digital (SSID) believes that this is a wise strategy in the context of the Government’s goal of building Vietnam into a regional international financial center.

He emphasized that Vietnam is among the world’s leading blockchain companies, with many co-founders and developers of major exchanges such as OKX and Binance being Vietnamese. If Vietnam takes advantage of this, it can absolutely rise to the top of the digital asset sector.

However, digital assets are still a new, potential but risky field. SSID CEO recommends that there should be a consulting center and official communication so that people can clearly understand the nature and how to use hot wallets, cold wallets, and identify safe applications.

“Digital assets are not the same as physical assets, so besides legalization, market education is a key factor to protect investors,” Mr. Mai Huy Tuan emphasized.

Digital asset market today September 29: Bitcoin and Ethereum ETFs lose $1.7 billion as institutions withdraw

Updated at 8:00 a.m. on September 29 (Vietnam time), the crypto market is almost at a standstill. Bitcoin price is still trading around $109,000, down slightly by 0.08% in the past 24 hours. Ethereum continued to decrease by 0.51%, Solana (-1.65%) or Dogecoin (-1.81%), TRON (-0.70%), Cardano (-2.26%) are also in a downward trend. XRP (0.39%), Binance Coin (0.93%)… increased slightly.

Spot Bitcoin ETFs have just recorded a net withdrawal of $903 million, ending a month-long inflow streak, according to SoSoValue. The wave of withdrawals comes amid growing macroeconomic uncertainty, causing institutional investors to reduce exposure and shift to defensive positions.

Ethereum was hit harder, with nine US-based Ethereum ETFs seeing outflows of $796 million, the largest weekly outflow since their launch. The massive outflows suggest that demand for cryptocurrency ETFs is cooling.

Once considered a convenient channel to access digital assets, ETFs are now being reconsidered by investors, especially when inflation persists, global growth slows and US monetary policy remains uncertain. In a high-risk environment, digital assets are the first group to be cut from the portfolio.