（来源：吴说） 吴说获悉，以太坊财库公司 ETHZilla 发文称，作为赎回尚未结清的高级有担保可转换票据的一部分， 公司已出售 24,291 枚 ETH，套现约 7,450 万美元，计划将全部或大部分资金用于提前赎回（预计于 12 月 24 日及 12 月 30 日完成）。ETHZilla 表示，未来公司价值将更多由其 RWA 代币化业务带来的收入 与现金流驱动，因而将停止公开 mNAV 面板，但仍将定期披露资产负债情况，并通过 SEC 文件及社交 媒体更新 ETH 财库与股份变动。 来源：市场资讯 ...

Metaplanet stock rose 4.16% during closing hours on the Tokyo Stock Exchange on Dec. 22 after the company announced changes to its capital structure. The firm plans to raise funds through dividend-paying preferred shares, aiming to attract institutional investors. Metplanet Stock Saw a Healthy Bounce on New Capital Structure Metaplanet stock reclaimed the 450 JPY level during trading on Dec. 22 as shareholders approved five major proposals, including issuing dividend-paying preferred shares to raise cap ...

智通财经APP注意到，今年，数字资产资产负债表公司一度高歌猛进，直到比特币在10月份突然暴跌。 现在，许多公司正面临着未实现亏损。 目前有超过180家上市公司在其资产负债表上持有加密货币，其中约有100家采用了类似于 Strategy(MSTR.US)联合创始人迈克尔·塞勒在2020年首创的策略：通过发行债务和股权来快速积累比特 币。 今年早些时候，随着比特币价格上涨，这种做法受到青睐，投资者押注在特朗普政府下加密货币将出现 看涨趋势。 但比特币最近的波动引发了数字资产资产负债表(DAT)领域的抛售。自比特币10月10日清算以来， Strategy的股价已下跌约40%。 Le 补充道："我们看起来更像是一只'七巨头'科技股，而不是一只封闭式基金或ETF。" Strategy向MSCI提出了类似的论点，挑战了该指数提供商将于明年1月做出的决定：是否将数字资产持 有量占总资产50%或以上的公司排除在全球指数之外。 伯恩斯坦分析师认为，Strategy将能安然度过加密货币寒冬。但许多在繁荣时期效仿Strategy策略、并受 到代币价格飙升和加密友好监管东风提振的公司可能无法幸免。 在过去的一个月里，投资者对Stra ...

数据显示，自11月21日以来，Strategy的股价已下跌约20%，该公司市值如今已接近其所持比特币市 值。摩根大通最新指出，Strategy被剔除出主流指数的负面影响已基本体现在其股价中。该行表 示："我们认为，若MSCI决定剔除Strategy，对其股价和比特币的下行影响将有限，因为该风险已被超 额定价。反之，若1月15日MSCI作出有利决定，Strategy和比特币都可能强势反弹至10月10日前的水 平。" 智通财经APP获悉，摩根大通指出，Strategy(MSTR.US)的股价已充分反映被MSCI等主流指数剔除的风 险，指数编制公司MSCI即将公布的决定反而可能成为该股股价的上涨催化剂，即使该股被剔除仍会引 发被动资金外流。 据悉，MSCI正考虑将持有比特币或其他数字资产作为库藏资产的公司排除在其指数之外，并已就此事 征求投资界意见。MSCI表示："MSCI提议，将数字资产持仓占总资产50%及以上的公司，从MSCI全球 可投资市场指数系列中剔除。"此次意见征询期将持续至12月31日，最终决定将于2026年1月15日前公 布。 Strategy首席执行官Phong Le周二表示，已启动与MSCI的"沟 ...

Core Insights - Wall Street is entering a new chapter with the approval of Grayscale's Dogecoin (DOGE) and Ripple (XRP) spot ETFs, set to be listed on the NYSE on November 25, marking a significant acceptance of alternative crypto assets in mainstream finance [1][3]. Grayscale's ETF Approval - Grayscale successfully transformed its private trust products into publicly traded spot ETFs, allowing any investor with a securities account to trade DOGE and XRP like stocks, thus lowering investment barriers [3]. - The approval signifies a shift in the market, as these ETFs will hold actual DOGE and XRP, providing direct exposure to price fluctuations without the complexities of managing private keys [3]. Market Reactions and Predictions - Anticipation surrounds the new ETFs, with Bloomberg's Eric Balchunas predicting a first-day trading volume of approximately $11 million for the DOGE ETF, which, while modest compared to mainstream assets, represents a significant step for a meme-based cryptocurrency [4]. - DOGE's price is currently in a downward trend around $0.143, with the ETF launch expected to act as a catalyst for potential price movements [8]. XRP's Competitive Landscape - The XRP ETF enters a competitive market, with several institutions already launching their own XRP ETFs, indicating strong demand for compliant investment vehicles [11]. - Despite the positive news surrounding the ETFs, XRP's price has declined by about 18% since early November, suggesting profit-taking by early investors and concerns over market saturation [12]. Future Outlook - Following the DOGE and XRP ETFs, Grayscale is expected to launch a Chainlink (LINK) spot ETF soon, further expanding its portfolio of crypto assets available for public trading [15]. - The listing of these ETFs represents a decisive step towards the broader acceptance of cryptocurrencies in traditional finance, reflecting a maturing regulatory environment and creating new opportunities for long-term industry growth [15].

Core Insights - U.S. spot Solana (SOL) exchange-traded funds (ETFs) have seen inflows for 17 consecutive days, accumulating a total of $476 million since their launch on October 28 [1][2] - This inflow streak is the longest uninterrupted positive flow among crypto ETFs this year, contrasting with significant outflows in Bitcoin (BTC) and Ether (ETH) ETFs [2] - The leading contributor to Wednesday's inflows was Bitwise's BSOL with $35.9 million, followed by Grayscale's GSOL at $12.6 million, indicating a growing interest in Solana despite a general downturn in the crypto market [3] Inflow Performance - The Solana ETFs added $48.5 million on Wednesday, marking the second-largest inflow for the month [1] - Cumulative net inflows for Solana ETFs since inception reached $476 million, showcasing strong investor interest [1] Market Context - In November, Bitcoin ETFs experienced net outflows of approximately $2.96 billion, while Ether ETFs recorded about $107 million in outflows, highlighting a shift in investor preference towards Solana [2] - The CoinDesk 20 Index (CD20) has declined by 12% over the past week, yet Solana ETFs continue to attract investment [3]

Core Insights - 21shares has launched its first exchange-traded funds (ETFs) that track a basket of cryptocurrencies, including ethereum, solana, and dogecoin, specifically for U.S. investors [1] Company Developments - The ETFs are designed to provide U.S. investors with exposure to a diversified range of cryptocurrencies [1] - This launch marks a significant step for 21shares in expanding its product offerings in the U.S. market [1] Industry Trends - The introduction of cryptocurrency ETFs reflects a growing trend in the financial industry towards integrating digital assets into traditional investment vehicles [1] - The move may indicate increasing acceptance and demand for cryptocurrency investments among mainstream investors [1]

Metaplanet Inc. (TYO: 3350, OTCQX: MTPLF) said on October 28 that it has formally adopted a Capital Allocation Policy, immediately putting in place specific guidelines for how it will raise and return capital as it continues to grow its Bitcoin treasury. Get these headlines directly to your inbox: subscribe to Blockspace. Under the new policy, the company will: Issue perpetual preferred shares to fund further Bitcoin purchases, with a goal of listing these securities promptly to manage refinancing risk a ...

Core Insights - The launch of the Bitwise Solana Staking ETF (BSOL) marks a significant milestone in the cryptocurrency ETF market, making Solana the third cryptocurrency to have a spot ETF in the U.S. after Bitcoin and Ethereum [1] - The listing of BSOL has led to a massive liquidation event in the Solana perpetual contract market, with a 230% increase in liquidation data compared to the previous trading day, totaling over $120 million [1][3] Group 1: Market Impact - BSOL's launch follows a simplified approval process by the SEC, providing investors with staking rewards alongside SOL holdings, which is expected to shift significant funds from offshore products to the regulated U.S. market [3] - SOL's price tested the critical resistance level of $200, rebounding over 60% from previous sell-offs, currently fluctuating between $175 and $212 [3] - The intense battle between bulls and bears around the $200 mark has resulted in a large-scale liquidation event for Solana [3][6] Group 2: Whale Activity - A notable whale address has adjusted its positions frequently, amassing a total holding of $52.45 million, with $50 million in HYPE long positions yielding an 87% return [5] - This whale activity indicates institutional investors' long-term confidence in the Solana ecosystem, as they also opened positions in various altcoins [5] Group 3: Macro Economic Context - The volatility in the Solana market is influenced by broader macroeconomic factors, including expectations of a 25 basis point rate cut by the Federal Reserve, which has increased risk appetite in the cryptocurrency market [8] - The easing of U.S.-China trade tensions has also contributed to a more optimistic market sentiment [8] Group 4: Market Sentiment - Despite the significant liquidation event, the overall market sentiment remains neutral, with the Fear and Greed Index at 50, up from 34 the previous week [10] - The Solana network has maintained a stable operation for 21 months, providing a solid foundation for its value [10] - Upcoming launches of Solana ETFs in Hong Kong are expected to provide additional liquidity and market depth [10]

Core Viewpoint - S&P Global Ratings has assigned a "junk" rating (B-) to Strategy (MSTR.US), indicating significant structural risks due to high asset concentration in Bitcoin, a single business model, weak risk-adjusted capital, and low dollar liquidity [1] Group 1: Rating and Financial Structure - The rating is six notches away from investment grade, with a stable outlook [1] - Strategy has accumulated Bitcoin with a fair value of approximately $74 billion through debt and equity financing [1] - The company has issued about $15 billion in convertible debt and preferred stock, with $5 billion of "out-of-the-money" convertible debt maturing in 2028 [1][2] Group 2: Risks and Market Conditions - S&P warns of liquidity mismatch risks in the company's debt arrangements, which could lead to forced selling of Bitcoin if prices decline [1] - The company faces significant currency mismatch, as its balance sheet is primarily in Bitcoin while debt and dividend obligations are denominated in dollars [1] - Strategy has recently raised $43.4 million in Bitcoin, increasing its holdings to 640,808 BTC, valued at approximately $73.7 billion [2] Group 3: Market Performance - The stock price rose by 2.27% to $295.63 on Monday, with a year-to-date increase of about 2%, while Bitcoin has risen by 22% in the same period [3]