Strategy, led by Michael Saylor, added 3,081 bitcoin last week for $356.9 million, at an average of $115,829 per coin. The company now holds 632,457 BTC worth around $70.2 billion, though acquired at $46.5 billion.
Purchases were largely funded by $300.9 million raised from common stock sales, with additional capital from preferred stock.
However, the move drew criticism after Saylor revised his pledge not to sell stock below 2.5x mNAV. MSTR shares remain pressured as mNAV has been under 2x for weeks.
B Strategy Targets $1B Raise With CZ’s Backing For BNB Treasury
B Strategy, a digital asset investment firm, plans to raise $1 billion by launching a U.S.-listed BNB treasury vehicle with strategic support from YZi Labs, led by Binance co-founders Changpeng Zhao and Yi He.
The venture will be headed by Max Hua, ex-CFO of Bitmain. Modeled after traditional investment firms, it will both hold BNB and reinvest in the ecosystem.
The company aims to fund technology, experimental projects, and community initiatives while providing institutional-grade exposure to BNB with transparency and governance.
Galaxy, Jump, Multicoin Eye $1B Solana Treasury Fund
Galaxy Digital, Multicoin Capital, and Jump Crypto are reportedly seeking $1 billion to establish a Solana-focused treasury, Bloomberg reported.
With Cantor Fitzgerald as lead banker, the firms plan to buy out a listed company and convert it into a Solana treasury vehicle.
The deal, approved by the Solana Foundation, is expected to close in early September.
Inspired by Michael Saylor’s bitcoin strategy, the fund will operate like digital asset treasuries that have gained traction across crypto markets, positioning Solana for deeper institutional exposure.
BitMine Expands ETH Holdings To 1.7M Tokens, Retains $562M Buying Power
BitMine Immersion Technologies, led by Tom Lee of Fundstrat, has boosted its ether reserves to 1,713,899 tokens worth $7.9 billion, while retaining $562 million in cash for further purchases.
Last week, the firm added 190,500 ETH, raising combined crypto and cash holdings to $8.8 billion. However, a market drop pulled ETH below $4,600, reducing valuations.
BMNR stock, down 2.6% premarket after a 12% rally Friday, saw heavy trading volumes, enabling rapid ETH accumulation. The firm also filed to raise an additional $20 billion through stock sales.
Nasdaq-listed Sharps Technology Soars 70% On $400M Solana Treasury Fundraise
Shares of Sharps Technology jumped as much as 70% Monday after the Nasdaq-listed firm raised $400 million to establish a Solana-focused digital asset treasury.
The funding round attracted top investors including ParaFi, Pantera, FalconX, CoinFund, and Arrington Capital. Shares were sold at $6.50 per unit with warrants at $9.75, with closing expected by August 28.
The company plans to buy SOL with the proceeds, supported by a $50 million discounted token sale from the Solana Foundation. Sharps joins other public firms pivoting to crypto treasuries.
ETHZilla Approves $250M Buyback, Expands Ether Treasury
ETHZilla has authorized a $250 million stock repurchase program as part of its strategy to strengthen its ether-focused treasury.
The Nasdaq-listed company now holds 102,237 ETH, worth about $489 million at an average acquisition price of $3,948, along with $215 million in cash equivalents.
The buyback program will run until June 2026 unless completed earlier. Executive chairman McAndrew Rudisill said the move highlights the company’s confidence in shareholder value while aggressively scaling ETH reserves.
ETHZilla also introduced its Electric Asset Protocol to generate higher yields on holdings.
Sequans Unveils $200M Equity Program To Grow Bitcoin Holdings
French chipmaker Sequans Communications has launched a $200 million at-the-market equity offering to expand its bitcoin treasury, targeting 100,000 BTC by 2030.
The company currently holds 3,171 BTC worth around $349 million, making it Europe’s second-largest corporate holder.
Proceeds from the new program could add 1,814 BTC, raising the stash to nearly 5,000.
CEO Georges Karam said the move aims to boost bitcoin per share and long-term value. The plan comes as bitcoin trades near $109,862, down 13% from its recent all-time high.
Grayscale Files To Convert Avalanche Trust Into Spot ETF
Grayscale has filed an S-1 registration with the U.S. SEC to convert its Avalanche Trust into a spot ETF. If approved, the fund will trade on Nasdaq, offering regulated access to AVAX.
The move follows its earlier 19b-4 filing in March and would allow cash creations and redemptions. Coinbase will provide custody and execution, while BNY Mellon will act as administrator.
The trust, launched in August 2024, manages nearly $15 million, reflecting declines in AVAX prices amid broader market downturns.
SEC Postpones WisdomTree XRP ETF Decision To October
The SEC has delayed its ruling on WisdomTree’s proposed XRP ETF until October 24, 2025.
Filed by Cboe BZX Exchange, the application seeks approval to list and trade shares tied to XRP.
The regulator has now postponed decisions on all pending spot XRP ETFs except Franklin Templeton’s, due next month.
Analysts Eric Balchunas and James Seyffart predict a 95% chance of approval this year, with the SEC possibly approving multiple XRP ETFs simultaneously, similar to its approach with bitcoin and ether funds.
UAE Ranks Fourth Globally In Government Bitcoin Holdings
The United Arab Emirates has become the world’s fourth-largest government bitcoin holder, with reserves valued at about $740 million.
According to Arkham Intelligence, the UAE controls roughly 6,333 BTC through Citadel Mining, a state-backed mining firm.
Unlike other nations that accumulated bitcoin via seizures, the UAE’s reserves were mined directly, developed alongside Phoenix Group.
The U.S. leads global government holdings at up to $20 billion, followed by China and the U.K. The UAE’s strategy reflects its broader goal of diversifying its economy through digital assets.
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