Alternative Investing Report - July 1, 2025

*as of 6/30; Sources: S&P, BTC, FTSE, DJRE, CL50

Stock trading platform Robinhood is giving 5 euros worth of OpenAI and SpaceX tokenized shares — meaning equities wrapped in tokens on a layer two blockchain — to any European user who onboards before July 7. This giveaway is to celebrate the first time Robinhood has tokenized pre-IPO startups to add to hundreds of other tokenized shares available. For now, Robinhood cannot offer these tokens to American customers, but the investment platform Republic is now offering SpaceX tokens to everyone with plans to add more companies soon.

➨ TAKEAWAY: OpenAI and SpaceX shares are in high demand and it can be very difficult for retail investors to access them due to low supply and high minimum investments. Tokenization is one way to broaden exposure to highly desirable startups, and eventually it seems likely that more platforms will go this route. The more avenues that investors have to get shares in private companies like OpenAI and SpaceX, the better.

Four private market product innovators talk about how investors can build yield-generating portfolios. They discuss the volatile investment landscape, the importance of cash flow in portfolios, and the various options available to investors. A must watch for anyone looking to build up investment cash flow.

Commercial real estate investor activity rose globally by 34% year-over-year in Q1, and 37% in the Americas. This rise was driven largely by multifamily buildings, though office and retail also saw an uptick, and office leasing is recovering worldwide. For retail, there was negative net absorption for the first time in four years, but newer high-end space still is in high demand. Meanwhile, the CoStar Commercial Repeat-Sale Indices were down in May, with the value-weighted index down 1.3% and the equal-weighted index down 0.6%.

➨ TAKEAWAY: The commercial market largely had a solid first quarter, with signs of recovery and positive momentum. Even though values were down in May, transaction activity was up 1.2%, and investors are clearly interested in the asset class. There is still uncertainty surrounding tariff policy, particularly in industrial and retail areas, but on the whole, most metrics are heading in the right direction.

🪙 Crypto hack record: Hackers have stolen an estimated $2.1 billion already in 2025, with North Korean groups responsible for an estimated 70% of those losses, due largely to the $1.5 billion Bybit hack in February.

🏢 Blackstone buys $2B in loans: The alternative asset manager is buying $2 billion worth of commercial real estate debt at a 7% discount, bringing its total investing in CRE loans to $20 billion over the last two years.

💵 Family offices & private credit: 32% of family offices are planning to increase their private credit allocations this year, with 30% saying the same about infrastructure assets.

🏀 Kobe rookie sneakers: A pair of 1997 game-worn, photo-matched and signed Kobe Bryant sneakers is being sold by Infinite Auctions, a new auction site also selling a pair of Michael Jordan sneakers and a LeBron James jersey.

🚀 TikTok buyer?: President Trump said that he has found a buyer for the social media platform - an undisclosed group of “very wealthy people.”

🎨 Brazilian Arte Popular: The art genre that often features artists with Indigenous or Black roots has grown in popularity, with artists such as José Antônio da Silva, Miriam Inês da Silva, and Heitor dos Prazeres growing in stature internationally.

The Oregon apple farm that inspired Steve Jobs to name his company Apple is on the market for $5 million. The 387-acre property is around an hour away from Portland, and has a main house, barn, guest house, greenhouse, a pond, pasture, and an apple orchard. The 5,200 square-foot 4 bed/4 bath main house is fully remodeled and has multiple decks and patio areas.