While other crypto enthusiasts are perturbed by Bitcoin price decline, Justin Sun is planning to invest around $100 million in the asset. Notably, Bitcoin price has now fallen to around $77,000, down by 14% within the last 30 days. Sun’s move comes at a time when Bitcoin treasury companies are counting their losses. Justin Sun to Buy the Bitcoin Dip Sun said that he is adding about between $50 million and $100 million worth of Bitcoin to Tron’s holdings. Coincidentally, Bitcoin price fell below $75,000 ...

Core Viewpoint - Virtune AB (Publ) is implementing a 10:1 share split for the Virtune Bitcoin Prime ETP (ticker: VIRBTCP) to enhance trading liquidity and accessibility for investors [1][2]. Share Split Details - The share split will take effect on February 2, 2026, across all markets where the product is available [2]. - Each existing share will be divided into ten new shares, resulting in a tenfold increase in the number of shares and a corresponding decrease in the NAV per share [3][4]. - The total value of each investor's holdings will remain unchanged post-split [3][4]. Product Information - The product name and ticker will remain the same, but a new ISIN and WKN will be assigned [5]. - The last day of trading with the old ISIN is January 30, 2026, and trading with the new ISIN will commence on February 2, 2026 [6]. - The ETP is traded on Nasdaq Stockholm and Deutsche Börse Xetra, with settlement currency in SEK and trading currencies in SEK and EUR [6]. Company Overview - Virtune AB is a fully regulated Swedish digital asset manager and issuer of crypto exchange-traded products on regulated European exchanges [8]. - The company emphasizes regulatory compliance and strategic collaborations to empower global investors with innovative investment products [9].

Core Insights - Crypto investors are not retreating but repositioning their capital, moving away from Bitcoin and towards a select group of altcoins [1][2] - Billions of dollars continue to flow into digital assets despite market volatility, indicating a shift in investor priorities [1] Bitcoin's Capital Rotation - Bitcoin inflows decreased by 35% year over year to $26.9 billion, while $105 million flowed into short-Bitcoin products, suggesting more sophisticated hedging strategies [2] - Investors are increasingly rotating capital into newly launched altcoin investment products, such as Solana (SOL) and XRP ETFs, which were introduced in the third quarter of the previous year [2] Altcoin Performance - Ethereum (ETH) led the capital rotation with inflows of $12.7 billion, marking a 138% year-over-year increase, driven by ecosystem upgrades, staking demand, and expanding DeFi use cases [3] - XRP experienced a 500% year-over-year surge in inflows to $3.7 billion, supported by legal clarity and renewed enterprise adoption [3] - Solana saw the most significant growth, with inflows increasing by 1,000% year over year to $3.6 billion, reflecting strong interest in high-throughput applications, NFTs, and gaming [4] - The broader altcoin category outside these major tokens saw a 30% year-over-year decline in inflows to $318 million, indicating a selective investment environment [4] Geographic Trends in Crypto Inflows - The United States led global crypto inflows with $47.2 billion, although this represented a 12% year-over-year decline from 2024 [5][6] - Europe and Canada showed strong rebounds in crypto investments, broadening geographic participation [6] - Germany shifted from $43 million in outflows in 2024 to $2.5 billion in inflows, indicating a renewed investor appetite potentially driven by improving economic conditions or favorable policy shifts [7]

Core Viewpoint - Morgan Stanley is expanding its involvement in the cryptocurrency market by filing for an Ethereum Trust, following its recent filings for Bitcoin and Solana ETFs, indicating a growing acceptance of crypto ETFs by established banking institutions [1][2][3]. Group 1: Morgan Stanley's Ethereum Trust Filing - Morgan Stanley has submitted an S-1 registration statement to the U.S. Securities and Exchange Commission for a spot Ethereum exchange-traded fund, aiming to provide regulated exposure to Ether [2][3]. - The Ethereum Trust is designed to track the price of Ether and will also participate in ETH staking to generate yields on its holdings [3][4]. - This filing follows closely after the bank's registration statements for Bitcoin and Solana ETFs, marking a significant push into crypto investment products [1][3]. Group 2: Market Reaction and Industry Context - The move has garnered attention in the digital asset industry, with industry experts noting the significance of Morgan Stanley's entry into crypto ETFs [5]. - The demand for Ethereum staking has surged recently, with notable activity from firms like BiMine [4]. - Inflows into spot Ethereum ETFs have resumed, with BlackRock's iShares Ethereum Trust leading the market, indicating a positive trend for Ethereum investment products [6][7].

Market Overview - Bitcoin and major altcoins have experienced a price increase, with Bitcoin trading near $93,445 and Ether around $3,287, while Solana is close to $140.83 [2][3] - BONK crypto has seen a significant rebound, trading near $0.000012 with a 24-hour volume of approximately $503 million and a market value of about $1.04 billion [2][4] Institutional Interest - Morgan Stanley has filed with the US Securities and Exchange Commission to list exchange-traded funds (ETFs) tied to Bitcoin and Solana, indicating a growing interest from major financial firms in crypto as a legitimate investment product [3][4] - The introduction of institutional products like ETFs is anticipated to attract more traditional investors into the crypto market, adding legitimacy to the sector [4] Technical Analysis - A crypto analyst has noted a sharp breakout in BONK after a period of decline, with the token rising to around 0.00001374, indicating a bullish trend [5] - Prior to this breakout, BONK was trading within a narrow consolidation range of 0.00000750 to 0.00000820, following a downward trend through November and December [6]

Core Insights - Virtune has successfully completed the first rebalancing of the Virtune Stablecoin Index ETP, which is listed on Nasdaq Stockholm, Nasdaq Helsinki, and Xetra [1] Product Portfolio - In addition to the Virtune Stablecoin Index ETP, Virtune's product portfolio includes various ETPs such as Bitcoin, Staked Ethereum, XRP, and several others, totaling 15 different ETPs [2] Index Distribution - As of December 30, before rebalancing, the index distribution was as follows: Ethereum 44.08%, XRP 23.62%, Solana 17.39%, Chainlink 6.12%, Stellar 5.66%, and Aave 3.13%. After rebalancing, the distribution changed to: Ethereum 41.84%, XRP 23.79%, Solana 18.53%, Chainlink 6.56%, Stellar 5.90%, and Aave 3.39% [3] Rebalancing Outcome - The rebalancing did not change the cryptocurrencies included in the index, and the performance of the Virtune Stablecoin Index ETP in December was +0.53% [4] Product Design - The Virtune Stablecoin Index ETP is a physically backed exchange-traded product designed to provide investors with a simple, secure, and cost-effective way to gain exposure to the growing stablecoin ecosystem, following a diversified index of digital assets [5] Company Overview - Virtune is a regulated Swedish digital asset manager and issuer of crypto exchange-traded products on regulated European exchanges, focusing on empowering global investors with innovative investment products [7]

Core Insights - BitMine Immersion Technologies acquired 32,977 ETH valued at approximately $104 million in the final week of 2025, increasing its total holdings to over 4.14 million ETH, worth more than $13 billion, representing about 3.4% of the circulating ETH supply [1][2] - The firm is the largest "fresh money" buyer of ETH globally, with a significant price forecast for Ethereum, predicting a rise to $250,000, which would be a 7,760% increase from the current price of $3,180 [2] - BitMine aims to increase its authorized share count from 500 million to 50 billion to facilitate capital market activities and stock splits, with a target share price of around $25 [3][4] Company Holdings and Performance - BitMine holds approximately $915 million in cash and 192 Bitcoin valued at nearly $18 million, in addition to its ETH holdings [6] - Shares of BitMine increased by around 4% on Monday, trading at $32.49, and have risen nearly 14.8% over the last five trading days [5] Strategic Initiatives - The company is seeking shareholder approval for various proposals, including the election of eight directors and the implementation of special compensation and incentive plans, with a vote deadline set for January 14 [4]

Core Insights - Tether has added 8,888 Bitcoin to its reserves, amounting to nearly $800 million, highlighting its position as a significant institutional holder of Bitcoin [1][2] - This acquisition brings Tether's total Bitcoin holdings to over 96,000 coins, reinforcing its strategy of systematic accumulation despite a cooling crypto market [2][7] Company Strategy - Tether's strategy, formalized in May 2023, involves allocating up to 15% of its realized quarterly operating profits to Bitcoin as a long-term store of value [4][7] - The latest purchase aligns with this policy, as Tether transferred approximately 8,888.8 BTC to its treasury wallet as part of Q4 2025 profit allocation [7] Financial Performance - Tether's average acquisition cost for Bitcoin is estimated at around $51,100 per BTC, resulting in over $3.5 billion in unrealized profits as of early 2026 [5] - The total spending for Q4 is estimated at roughly $876 million, or about 9,850 BTC, indicating a consistent investment approach [3][4] Market Context - Corporate adoption of Bitcoin as a treasury asset has slowed, with new adopters dropping from around 53 in Q3 to just nine in Q4 2025 [6] - By year-end, an estimated 117 to 145 public companies and institutions held Bitcoin, collectively controlling approximately 1.5 million BTC, valued between $90 billion and $150 billion [8]

Core Viewpoint - Bitmine Immersion Technologies has experienced a remarkable 300% increase in value for the year, contrasting sharply with major cryptocurrencies like Bitcoin and Ethereum, which have seen declines of 5% to 50% [1] Group 1: Company Performance - The majority of Bitmine's gains occurred during the summer, but since September, the stock has dropped significantly, currently trading at $30, down 80% from its summer high of $161 [2] - Bitmine holds nearly 4 million Ether, valued at approximately $12 billion, representing about 3% of all Ethereum in circulation, making it the largest publicly traded Ethereum treasury company [3][4] - The current market value of Bitmine is around $13 billion, nearly equal to its Ethereum holdings, suggesting that investors might be better off investing directly in Ethereum rather than in Bitmine [7] Group 2: Market Dynamics - Bitmine's performance is closely tied to the price of Ethereum; when Ethereum's price rises, Bitmine's stock price tends to soar, and conversely, when Ethereum's price falls, Bitmine's stock price declines [5] - The question arises whether Bitmine should be valued based solely on its Ethereum holdings or if a premium should be attached to its valuation as an Ethereum treasury company [8]

Core Insights - Scrutiny around Shima Capital intensified following fraud charges against its founder Yida Gao by US regulators, indicating potential operational changes and a possible wind-down of the firm [1][2] Regulatory Actions - The US Securities and Exchange Commission (SEC) charged Shima Capital Management LLC and Yida Gao on November 25, alleging investor fraud related to fundraising for the firm's debut crypto venture fund [2] - The SEC claims that between 2021 and 2023, Gao and Shima Capital raised nearly $170 million from investors using misleading marketing materials regarding Gao's past investment performance [3] Internal Developments - Internal communications suggest that Gao plans to step down as managing director and pursue an "orderly wind-down" of the firm, with independent advisers overseeing the process [4][5] - Gao indicated that the SEC and Department of Justice actions pertain to his personal conduct rather than the firm's portfolio companies [4] Allegations of Misrepresentation - The SEC's complaint outlines two main allegations, including that Shima Capital's pitch deck exaggerated Gao's previous investment results, claiming a 90x return on one investment when the actual return was closer to 2.8x [6] - Gao reportedly dismissed discrepancies as clerical errors when questioned by investors [6]