Deals Of The Day: The Latest In Wealth Management M&A – Digital Asset, Summit

Editorial Staff

5 December 2025

iCapital, BNY, Nasdaq, S&P Global
Financial sector big-hitters BNY, iCapital, Nasdaq and S&P Global have made a “strategic investment” into Digital Asset, which created the Canton Network – a public, permissionless blockchain purpose-built for institutional finance. The Canton Network is headquartered in New York.

The involvement of these firms highlights how traditional and decentralized finance are converging, a statement from Digital Asset said.

The Canton Network underpins a range of use cases that apply to bonds, equities, money market funds, alternative investment funds, commodities, repurchase agreements , mortgages, life insurance, and annuities. More than $6 trillion of assets are on the “chain,” and more than 600 institutions participate across the Canton ecosystem, it said.

“The addition of BNY, iCapital, S&P Global, and Nasdaq marks another milestone in the evolution of both Digital Asset and Canton. Their participation reinforces the inevitability of interoperable, privacy-enabled markets operating at global scale,” Yuval Rooz, CEO of Digital Asset, said.

Digital Asset was founded in 2014.

Summit Financial
Summit Financial, a US wealth advisor, has made a minority-interest investment in Ivy Wealth Management, which also adds more than $500 million in client assets, and bolsters Summit’s presence in the Northeast.

The size of the investment stake wasn’t disclosed by Summit.

Ivy Wealth Management is led by president Brad Ingegneri, who founded the West Warwick, Rhode Island-based firm in 2010 after nearly 10 years with Merrill Lynch as a senior financial advisor and assistant vice president.

Summit only takes minority-stake purchases in independent advisors. This approach is, it says, unusual and enables principals of selling firms to retain control while gaining resources to accelerate growth. Since early 2024, Summit has completed 27 partnership transactions, including 14 in 2025. It oversees more than $25 billion in client assets.