Disclaimer: This is not financial advice. Anything stated in this article is for informational purposes only and should not be relied upon as a basis for investment decisions. Triton may maintain positions in any of the assets or projects discussed on this website.
TL;DR
Triton in the UAE
Triton Liquid Fund’s footprint in the UAE grew this quarter through a series of speaking engagements led by our CIO and Founder, Chris Keshian. The objective was consistent across Abu Dhabi and Dubai: present how Triton implements digital asset exposure inside regulated portfolios and open the operating model to allocator scrutiny. These sessions provided a direct channel to explain mandate design, execution controls and the conditions under which tokenized markets become investable.
Peter Knez x Chris Keshian: a Fireside chat about digital assets
Chris joined Peter Knez, Advisor to Triton Liquid Fund and former Co CIO of BlackRock, for a fireside discussion on tokenization at the Global Blockchain Congress in Dubai.
The session examined tokenization as market infrastructure: how financial and governance rights can be represented as transferable digital units with traceable ownership across platforms. Discussion centered on standardization, interoperability, and the potential for tokenized structures to widen access to private market assets while improving secondary liquidity and price discovery.
Settlement and payments were addressed in a practical context, focusing on the use of sovereign or commodity backed stable instruments to enable programmable cross border settlement. The speakers also reviewed data and verification requirements for RWA and nature linked assets, where institutional investability depends on transparent measurement and reliable attestation.
You can watch the full conversation here: Peter Knez & Chris Keshian — Fireside Chat on Digital Assets.
Capital Flows & Allocator Expectations: Where Is the Smart Money Going?
At the Hedge Funds Today Forum, Chris Keshian joined ADGM’s panel “Capital Flows & Allocator Expectations: Where Is the Smart Money Going?” on 8 October 2025, alongside regional allocators and managers.
In Abu Dhabi, the conversation lands in a market that is scaling in plain sight: ADGM ended H1 2025 with 11,128 active licences, 154 managers, 209 funds, and a 42% jump in AUM year on year. That growth is pulling decision makers to supervised venues where due diligence looks familiar, not speculative. Policy is moving with it: in September the FSRA opened a consultation to introduce a staking framework for virtual assets, signalling clearer rule-of-law tools for digital exposure.
Meanwhile, long-term capital is planting roots: Lunate and Brevan Howard launched a $2bn platform domiciled at ADGM, a concrete example of smart money committing locally.
Triton completed its migration in 2025, and received its FSRA financial services permission to manage a Collective Investment Fund in December 2024 from ADGM. Accordingly, our liquid data driven token strategies are offered through a regulated UAE structure that allocators can diligence like any other liquid sleeve. Abu Dhabi now has the rules, the infrastructure and the capital. That’s why digital assets are finally showing up in real allocator portfolios.
Institutional Capital in the Age of Digital Assets - Risk, Returns & Realignment
On 13 October 2025, Chris spoke on the Blockchain Stage at GITEX Global in Dubai during the panel “Institutional Capital in the Age of Digital Assets - Risk, Returns & Realignment” chaired by Heather Goldman.
The discussion took place three days after the Oct 10 macro shock when US equities sold off sharply after new 100% tariff threats on China, sending the Dow down ~900 points and dragging risk assets with it (Reuters, WSJ, MarketWatch). Crypto reacted even faster: Bitcoin broke below $110k and altcoins saw forced liquidations as leverage reset. That real time stress event effectively set the agenda on Oct 13. The panel focused on how institutions size and govern digital asset sleeves when macro moves hit first in 24/7 markets.
A line from our side summarized the strategy clearly:
“Triton Liquid seeks to hold positions for six months to two years. We build careful pricing models for every asset we want to own idiosyncratically. On events like Friday, we get to buy what we want at a 50% discount. That’s the value: we wait, we pounce when macro dislocates price away from fundamentals, and we exit when it’s overpriced. It’s a simple, safest strategy for institutions.”
That point connected directly to allocator questions in the room:
– What does macro aware position sizing look like?
– How do you separate signal vs execution vs financing in a drawdown?
– How do you justify entry timing when the trigger is exogenous rather than crypto native?
October 10 provided the live stress test and October 13 provided the institutional debrief. The conversation has shifted from “Should allocators own crypto?” to “What structure allows them to buy 50% mispricings without taking existential risk?”
Triton expanded its UAE presence this quarter, joining panels in Abu Dhabi and Dubai to show how digital assets fit inside regulated portfolios. From tokenization to allocator standards and macro-driven entries, the focus was on structure, controls, and institutional execution.
Stablecoin supply climbed from $239B to nearly $300B, led by USDT and USDC, while Tether, Circle, Stripe, and Cloudflare launched new projects accelerating global adoption.
Marinade runs $2.5B on Solana, yielding $170M yearly. Tokenomics overhaul in 2025 sparked buybacks, burns, and rewards, driving MNDE up ~140%.