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Strategy Raises $4.2 Billion for Bitcoin Purchases After $14 Billion Gain

Strategy, formerly known as MicroStrategy, ended its three-month weekly Bitcoin buying spree after it failed to register any new purchases last week.

However, the firm announced a $4.2 billion ATM offering of its STRD stock to resume its BTC accumulation.

This move comes on the heels of a remarkable $14 billion unrealized gain on its Bitcoin holdings during the second quarter of the year.

Bit Digital "Sold Held Bitcoin to Purchase Ethereum"

Nasdaq-listed Bit Digital has sold its held Bitcoin (BTC) and purchased Ethereum (ETH).

On the 7th (local time), Bit Digital announced on its official X (formerly Twitter), "Ethereum is an asset that can restructure the global financial system," adding, "We sold 280BTC from our holdings and bought Ethereum." The company further stated, "We will continue to aggressively acquire additional Ethereum going forward." Currently, Bit Digital holds 106,003ETH.

Previously, Bit Digital announced that it would scale down its Bitcoin mining business and transition into a company focusing on Ethereum staking and accumulation.

Bitcoin Miner Core Scientific Scooped Up By AI Firm CoreWeave in $9 Billion Deal

AI infrastructure firm CoreWeave has signed an agreement to buy data center provider and Bitcoin miner Core Scientific in an all stock deal valued at around $9 billion, the company announced Monday.

The deal will give CoreWeave 1.3 gigawatts of gross power across Core Scientific's national data center footprint, with the potential to expand gradually with another 1 GW, a statement said. 

Core Scientific stockholders will receive 0.1235 newly issued CoreWeave stock for each share they hold, according to Monday's statement. 

Robinhood Stock Tokens Face EU Regulator Probe After OpenAI Warns: “Not Our Equity”

Robinhood erupts into crisis as EU regulators launch investigations into its blockchain-based “Stock Tokens,” now entangled in controversy as OpenAI and SpaceX publicly disavow ties to the investment product launched on June 30.

The Bank of Lithuania is investigating the legality of these tokenized assets following OpenAI’s alarm, which has highlighted the risks and regulatory chaos surrounding crypto-linked private market offerings in Europe.

“We have contacted Robinhood and are awaiting clarifications regarding the structure of OpenAI and SpaceX stock tokens as well as the related consumer communication,” said Giedrius Šniukas, spokesperson for the Bank of Lithuania.

SEC Accelerates Spot Solana ETF Approval Process

The approval process for the spot Solana exchange-traded fund (ETF) is gaining momentum, with the U.S. Securities and Exchange Commission (SEC) requesting potential issuers to resubmit revised S-1 filings by the end of July. This move comes as a response to comments and signals a potential acceleration in the approval timeline. Two sources close to the matter confirmed this development, indicating that the SEC is looking to expedite the process and approve one or more funds well before the October 10 deadline.

One of the driving factors behind this acceleration is the recent automatic approval of the REX-Osprey SOL and Staking ETF (SSK). Since SSK is considered under the Investment Company Act of 1940, it was automatically approved unless the SEC intervened. This fund, which started trading last week, became the first Solana staking fund on the market, gaining a significant first-mover advantage. The SEC's previous approach of approving spot Ethereum and Bitcoin ETFs simultaneously to avoid giving an advantage to a single product highlights the strategic importance of this move.

Bitcoin Buying Sprees Accelerate as Metaplanet, Semler Stack More BTC

Publicly traded firms Semler Scientific and Metaplanet both bought more Bitcoin on Monday, adding to their already large holdings even as Bitcoin treasury trend-setter Strategy paused its purchases. 

Semler, a firm that develops products for treatment and detection of chronic disease, bought 187 Bitcoin for $20 million. Japanese investment firm Metaplanet snagged 2,205 BTC for nearly $239 million.

Semler now holds 4,636 BTC worth more than $500 million while Metaplanet’s treasury has grown to 15,555 Bitcoin valued at nearly $1.7 billion. 

Bitcoin Spot ETF Flow

The overall net inflow of the US Bitcoin spot ETF on Monday was $216.64 million. The total net asset value of Bitcoin spot ETFs is $135.71 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.32%.

Source: SoSoValue

The Bitcoin spot ETF with the highest net inflow on July 7 was iShares Bitcoin Trust ETF (IBIT), with a net inflow of $164.64 million. Following that was Fidelity Wise Origin Bitcoin Fund (FBTC), with a net inflow of $66.05 million, according to SoSoValue.

Source: SoSoValue