Shinhan Investment Securities has proposed a model portfolio of 60% equities, 30% bonds, 8% gold and 2% Bitcoin, replacing the conventional 60/40 stock-and-bond split that Park Woo-yeol said has become less effective as the two asset classes increasingly decline together. The firm tested a 10% allocation divided between gold and Bitcoin, finding that an 8:2 split delivered the strongest balance of risk and return, and has tracked the model since the start of the year. The proposal comes as competition between securities and crypto venues broadens: Nasdaq plans to begin 23-hour trading on Dec. 6, 2026, while Korean investors can trade stock- and ETF-style products, including SOXL and KORU, on round-the-clock crypto exchanges. South Korea is also moving toward tokenized securities through a three-stage Financial Services Commission roadmap, with amended securities legislation scheduled to take effect on Feb. 4, 2027. Retail crypto activity has recovered, with Upbit recently processing about $1.04 billion of spot volume in 24 hours after Bitcoin rose above $80,000 in late August.