The Block
Quick Take Crypto-focused asset managers Bitwise and Strive Financial, which was co-founded by Vivek Ramaswamy, have both filed to create new ETFs that invest in companies with significant Bitcoin treasuries, such as MicroStrategy. The news comes as MicroStrategy continues its rally and new companies announce corporate bitcoin treasury strategies. Shares of KULR Technology Group soared to an all-time high on Thursday after the company reported it made its first bitcoin investment, worth $21 million.
Quick Take Analysts at Bernstein outlined the key catalysts for bitcoin to reach their cycle target of $200,000. Bitcoin is currently approaching fresh all-time highs — trading for around $92,000, according to The Block’s Bitcoin Price Page.
Quick Take The Tokyo-listed firm plans to use the funds raised from bond sales to purchase more bitcoin. The company currently holds over 1,018 BTC.
Quick Take After his young daughter, Mira, was diagnosed with a type of rare brain tumor, tech CEO Siqi Chen turned to X with a heartfelt plea for donations to support a lab’s research into the condition. A Pump.Fun user created a memecoin named Mira, which soared to an $80 million market cap before falling as Chen revealed his plan for liquidating his supply and donating all proceeds to the lab. “Even if we don’t sell a single token more, we’re going to send [the lab] at least $1M,” Chen wrote in an updat
Quick Take Central banks across Asia continued investing in CBDC pilots this year, with the cross-border Project mBridge achieving minimum viable product status in June.
Quick Take Corporations leveraging their equity to follow MicroStrategy’s lead by adding bitcoin to their balance sheets could emerge as a major trend in 2025, according to a Wintermute analyst. Companies currently doing this in some form include Mara, Riot and Metaplanet.
Quick Take The network’s total value locked has grown to exceed $3.5 billion. The following is an excerpt from The Block’s Data and Insights newsletter.
Quick Take 713 projects were built at ETHGlobal’s hackathon in Bangkok, Thailand over the weekend, competing for $750,000 in prizes. The winning projects each target a hot area of crypto, from AI agents to DAO tools to crypto games designed for Telegram.
Quick Take This is an excerpt from the 15th edition of The Funding sent to our subscribers on Nov. 17. The Funding is a fortnightly newsletter written by Yogita Khatri, The Block’s longest-serving editorial member. To subscribe to the free newsletter, click here.
