Core Insights - Virtune has completed the monthly rebalancing for the Virtune Crypto Top 10 Index ETP, which is listed on Nasdaq Stockholm in both SEK and EUR denominations [1] - The rebalancing aims to ensure that the ETP reflects current market conditions and absorbs volatility in the crypto market [3] Product Portfolio - In addition to the Virtune Crypto Top 10 Index ETP, Virtune offers a range of other ETPs including Bitcoin, Stellar, Staked Ethereum, and more [2] - The Virtune Crypto Top 10 Index ETP includes up to 10 leading crypto assets based on total market capitalization, with a maximum weight of 40% per asset to promote diversification [5] Index Allocation - As of July 31, before rebalancing, the index allocation was: Ethereum 37.10%, Bitcoin 34.43%, XRP 14.81%, Solana 7.56%, and others [2] - After rebalancing, the allocation changed to: Bitcoin 40.00%, Ethereum 31.61%, XRP 14.72%, Solana 7.68%, and others [3] Performance Metrics - The Virtune Crypto Top 10 Index ETP SEK outcome for July was +31.92% [3] - Notable performances in July included Stellar with +68.7%, Ethereum +48.7%, XRP +35.0%, and Uniswap +31.1% [4][5] Company Overview - Virtune is a regulated Swedish digital asset manager and issuer of crypto exchange-traded products on regulated European exchanges [7] - The company aims to empower global investors with innovative investment products aligned with the evolving crypto market landscape [7]

Core Insights - Virtune AB has completed the monthly rebalancing of the Virtune Crypto Altcoin Index ETP, which is listed on Nasdaq Stockholm and Nasdaq Helsinki [1] - The Virtune Crypto Altcoin Index ETP aims to provide equal-weighted exposure to leading altcoins, excluding Bitcoin and Ethereum [7] Product Portfolio - Virtune's product offerings include various ETPs such as Virtune Stellar ETP, Virtune Staked Solana ETP, Virtune Staked Polkadot ETP, and others [2] - The index allocation before rebalancing as of July 31 included Stellar (15.18%), XRP (13.31%), Chainlink (12.44%), and others [2] - After rebalancing, the index allocation was adjusted to equal weights of 12.50% for each asset [3] Performance Metrics - The Virtune Crypto Altcoin Index ETP recorded a performance of +37.89% for July [4] - Major altcoins experienced significant gains in July, with Stellar increasing by 68.7%, XRP by 35.0%, and Uniswap by 31.1% [5][6][7] - Other notable performances included Cardano (+29.3%), Chainlink (+26.7%), Avalanche (+25.1%), Litecoin (+23.4%), and Solana (+11.3%) [5][7] Market Position - The Virtune Crypto Altcoin Index ETP is the first of its kind in the Nordic region, allowing investors to gain broad exposure to alternative crypto assets [7] - The structure of equal weighting promotes diversification, reducing concentration risk in any single asset [7] Company Overview - Virtune is a regulated Swedish digital asset manager and issuer of crypto exchange-traded products, headquartered in Stockholm [9] - The company emphasizes regulatory compliance and strategic partnerships to empower global investors in the evolving crypto market [9]

Core Insights - Windtree Therapeutics has significantly reduced its outstanding shares of Series C and Series D Preferred Stock, with a 99.3% reduction in Series C and a 68.5% reduction in Series D as of July 25, 2025 [2][4] - The company has launched a BNB crypto treasury strategy, with an initial investment of $60 million led by Build and Build Corp, and plans for up to $700 million in BNB acquisitions [3][4] - The price of BNB coin has increased by over 17% since the announcement of the crypto treasury agreement, indicating strong global demand for the coin [3] Company Developments - As of July 25, 2025, only 19 shares of Series C Preferred Stock and 1,161 shares of Series D Preferred Stock remain outstanding, reflecting a substantial reduction in potential dilution from preferred conversions [2][4] - Investors redeemed approximately $2.3 million worth of preferred shares, which could have been converted into around 7.7 million common shares [4] - Windtree is actively seeking long-term development partners for its therapeutic pipelines alongside its cryptocurrency initiatives [5] Strategic Partnerships - Build and Build Corp, which is leading the investment in Windtree's crypto treasury strategy, is backed by notable investors and has a strong background in hedge funds and digital asset management [6]

Core Insights - ZOOZ Power Ltd. is set to become the first dual-listed company on Nasdaq and TASE to hold Bitcoin in its treasury, providing investors with exposure to digital assets [1][4] - The company has announced a $180 million private placement (PIPE) to fund its Bitcoin Reserve Strategy, with a share price of $1.00 per ordinary share [1][5] - Jordan Fried, a technology entrepreneur, will assume the role of CEO to lead the digital asset treasury strategy [2][3] Financial Strategy - The PIPE involves the sale of 180 million ordinary shares and pre-funded warrants, subject to shareholder approval, with strategic investors participating [1][5] - Approximately 95% of the net proceeds from the PIPE will be allocated to executing the Bitcoin treasury strategy, with the remainder for general corporate purposes [5][6] - An initial private placement is also planned, expected to raise $5 million by selling 2.5 million ordinary shares at $2.00 each [7] Leadership and Governance - Jordan Fried will begin his role as CEO on July 31, 2025, focusing on the digital asset strategy while the current CEO will continue overseeing the company's core energy solutions [2][3] - The Board of Directors has nominated additional members to support the company's strategic direction [3] Market Positioning - ZOOZ aims to leverage its dual-listed status to enhance its Bitcoin holdings and attract innovation-focused stakeholders [3][4] - The company believes that incorporating Bitcoin into its treasury will align it with a digital future and enhance long-term shareholder value [4] Historical Context - Bitcoin has shown an approximate 82% compound annual growth rate (CAGR) over the past decade, indicating its potential as a strategic asset [3]

Core Insights - CoinShares has launched the CoinShares Physical Staked SEI, the world's first zero fee exchange-traded product (ETP) providing regulated exposure to SEI's blockchain infrastructure [1][3][8] - The launch aims to meet the growing institutional demand for diversified blockchain exposure, positioning SEI as a leading layer 1 blockchain [3][4][6] Product Highlights - The CoinShares Physical SEI ETP offers a 2% additional return through an integrated staking mechanism with zero management fees [8][9] - It provides direct 1:1 exposure to underlying SEI tokens and is traded in USD on the SIX exchange, ensuring regulatory compliance [8][9][13] - The product is designed to eliminate previous barriers to institutional access, simplifying custody and operational challenges [8][9] Strategic Partnership - The collaboration between CoinShares and SEI reflects a strategic alignment focused on delivering institutional-grade blockchain infrastructure [5][6] - CoinShares' rigorous due diligence identified SEI as a technologically superior and institutionally ready blockchain solution [5][6] Market Context - The launch addresses critical market gaps by providing institutional investors with reliable, high-performance blockchain access [4][6] - SEI's layer 1 technology is engineered for scalability, speed, and developer simplicity, making it suitable for sophisticated financial markets [3][4]

Core Viewpoint - Windtree Therapeutics, Inc. has committed up to $700 million for BNB acquisitions, emphasizing its innovative cryptocurrency treasury strategy [1][2]. Group 1: Financial Commitments - The company has entered into a Common Stock Purchase Agreement for up to $500 million to establish an equity line of credit (ELOC) [1]. - An additional $20 million stock purchase agreement has been made with Build and Build Corp [1]. - Ninety-nine percent of the proceeds from both agreements will be allocated to acquiring BNB cryptocurrency [1]. Group 2: Strategic Intent - The establishment of the ELOC is part of Windtree's strategy to diversify its treasury assets and leverage blockchain-based digital currencies [2]. - The CEO of Windtree highlighted the importance of securing additional funds for purchasing BNB as essential to the company's strategy [2]. - The integration of BNB into the treasury is viewed as a forward-thinking approach to value creation [3]. Group 3: Company Background - Windtree Therapeutics is a diversified company with a focus on a cryptocurrency treasury strategy and therapeutic pipelines [4]. - Build and Build Corp is a company with expertise in hedge funds and digital asset management, backed by prominent investors [5].

Core Viewpoint - Spirit Blockchain Capital Inc. is launching Spirit Blockchain 2.0, an integrated digital asset platform focused on generating yield through active treasury management and regulated financial products [1][2][3] Integrated Treasury Strategy - The company is shifting from passive asset holding to an operational blockchain enterprise that generates recurring yield and deploys tokenized investment products [2][3] - Spirit is actively managing a multi-token portfolio including BTC, ETH, SOL, DOGE, XRP, and Vaulta, utilizing high-yield strategies [3][4] SpiritReserve Group - Spirit has launched SpiritReserve Group to create a diverse portfolio of digital and tokenized real-world assets, aiming to raise $100 million to $500 million in capital [5][6] - Strategies include staking, algorithmic hedging, structured product issuance, and institutional lending, all aimed at capital preservation and optimized yield [6] Regulated Products - The company has introduced yield-focused, compliant products under its Swiss-regulated entity, including ETPs and tokenized funds [7][10] - Future product launches may include various ETPs and real-world asset products [10] SpiritLinQ Infrastructure - SpiritLinQ serves as a proprietary tokenization and digital wealth platform, connecting asset management, treasury operations, and capital markets [11][16] Revenue Model & Financial Outlook - Spirit Blockchain 2.0 establishes a multi-stream revenue model, anticipating strong EBITDA growth through 2026 and beyond [12][17] - The company expects high-margin income from structured products and tokenization infrastructure [12] Industry Positioning - Spirit positions itself as an operating fintech with real infrastructure and compliance, differentiating from traditional crypto proxies [13]

Core Insights - DeFi Technologies' subsidiary Valour has surpassed US$1 billion in assets under management (AUM), reaching US$1,009,993,748 as of July 22, 2025, marking a 31% increase from US$771 million on May 30, 2025, driven by strong investor demand and rising digital asset prices [1][2][6] Group 1: AUM Growth and Market Demand - Valour's AUM growth reflects continued investor interest in regulated digital asset products and the increasing market value of the underlying digital assets [2][6] - The company reported earning US$10 million in staking and lending income and US$2.6 million in management fees in Q1 2025, with a blended yield of approximately 8% on staked AUM [8] Group 2: Product Offering and Market Position - Valour offers the most diverse array of digital asset ETPs globally, providing access to a wide range of cryptocurrencies, including major Layer 1s, staking assets, and emerging tokens [3] - The company has over 75 listed products across European exchanges, positioning itself as a leader in regulated digital asset ETPs [4] Group 3: Global Expansion Strategy - Valour is expanding into high-growth international markets, including Asia, Africa, and the Middle East, through strategic partnerships with AsiaNext, SovFi, the Nairobi Securities Exchange, and Misyon Bank [4][7][6] - The partnerships aim to create, issue, and trade digital asset ETPs in emerging markets with developing digital asset infrastructure and regulatory clarity [4][7] Group 4: Revenue Model and Sustainability - Valour employs a vertically integrated model that combines staking, lending, and management fees, generating recurring cash flows and supporting sustainable growth as AUM increases [5][6] - The company retains the 8% blended yield on staked AUM as profit, enhancing its financial sustainability [8]

Core Insights - VivoPower has negotiated with selected lenders and suppliers to exchange outstanding debts for ordinary shares, resulting in a reduction of liabilities by an aggregate of US$7.5 million [1][2] - Directors have opted to receive shares instead of cash for certain fees, with some shares subject to lock-up conditions [2] - The company aims to fully retire its debts, including a shareholder loan of US$28.8 million as of June 30, 2025, with a retirement program already initiated [3] Financial Strategy - The initiatives reflect VivoPower's commitment to strengthening its balance sheet and optimizing its capital structure to support transformational growth strategies [4] - The execution of these financial strategies is contingent upon approval from independent directors and sufficient liquidity [4] Business Transformation - VivoPower is undergoing a strategic transformation to become the world's first XRP-focused digital asset enterprise, focusing on the acquisition and management of XRP digital assets [5] - The company aims to support decentralized finance infrastructure and real-world blockchain applications through this new direction [5] Company Overview - Founded in 2014 and listed on Nasdaq since 2016, VivoPower operates globally across multiple regions including the UK, Australia, North America, Europe, the Middle East, and Southeast Asia [6] - The company has two business units: Tembo, which focuses on electric solutions for fleet applications, and Caret Digital, which is centered on renewable power use cases including digital asset mining [6]

Core Viewpoint - DeFi Technologies Inc. has commenced options trading on the Nasdaq Options Market, reflecting growing investor interest and confidence in the company's long-term strategic outlook [1][2]. Group 1: Options Trading Announcement - DeFi Technologies' options trading began on June 21, 2025, under the ticker symbol "DEFT," offering a variety of standard expiration dates and strike prices [2]. - The listing of options is anticipated to enhance liquidity in the company's shares and provide investors with greater flexibility to manage risk and leverage positions [2]. Group 2: Company Overview - DeFi Technologies is a financial technology company that connects traditional capital markets with decentralized finance (DeFi), being the first Nasdaq-listed digital asset manager of its kind [4]. - The company offers diversified exposure to the decentralized economy through its integrated business model, which includes subsidiaries like Valour, Stillman Digital, Reflexivity Research, Neuronomics, and DeFi Alpha [4][5][6][7]. Group 3: Subsidiary Functions - Valour provides exchange-traded products (ETPs) that allow retail and institutional investors to access digital assets securely through traditional bank accounts [5]. - Stillman Digital focuses on providing liquidity solutions and trade execution for digital assets [6]. - Reflexivity Research specializes in high-quality research reports for the bitcoin and digital asset industry [6]. - Neuronomics integrates AI and quantitative finance to deliver advanced trading strategies [7].