Bitwise and Strive Launch New ETFs Focused on Bitcoin Treasuries
Crypto-focused asset managers Bitwise and Strive Financial have filed for new ETFs that invest in companies with significant bitcoin treasuries, such as MicroStrategy. Bitwise’s proposed Bitcoin Standard Corporations ETF aims to prioritize companies holding more than 1,000 BTC, weighting them by bitcoin holdings rather than market cap. Strive’s Bitcoin Bond ETF, meanwhile, focuses on convertible securities from companies like MicroStrategy, potentially emphasizing less diversified bitcoin bond investments. This trend is consistent with the increasing institutional adoption of Bitcoin treasury strategies, as seen in examples like KULR Technology Group’s $21 million Bitcoin investment.
KULR Technology’s $21 Million Bitcoin Investment and Treasury Strategy
KULR Technology Group purchased 217.18 Bitcoin for $21 million as part of its strategy to allocate 90% of its excess cash to the crypto asset. The company’s CEO Michael Mo describes Bitcoin as “digital energy,” and sees it as aligned with its mission as an energy management firm specializing in batteries and space applications. KULR has selected Coinbase Prime as its custody and wallet services provider to manage its crypto assets, and has received strong support from shareholders. The move comes as part of a growing trend of institutional Bitcoin adoption, with companies like MicroStrategy adding Bitcoin to their treasury reserves with long-term visions for financial innovation and capital preservation.
PENGU Surpasses BONK to Become Solana’s Leading Meme Coin
Pudgy Penguins’ meme coin PENGU has surpassed BONK to become the largest meme coin in the Solana ecosystem with a market cap of $2.65 billion, taking the Solana meme coin market cap to $18.2 billion in total. PENGU is up 11.2% in the past 24 hours and 22.3% in the past 7 days following a controversial airdrop to the Pudgy Penguins NFT community. However, this has led to a sharp decline in the base price of NFT collectibles. Meanwhile, previous leader BONK has lost 23% in 30 days, dropping its market cap to $2.5 billion, despite modest weekly growth of 6.9%. Other meme tokens like WIF and FARTCOIN have also tried to attract investor interest. While WIF reached a market value of $1.9 billion, FARTCOIN fell after gaining 13.1% in a week.
Japanese Government Rejects Bitcoin Reserve
Japan has officially announced that it does not plan to add Bitcoin to its foreign exchange reserves. In the response signed by Prime Minister Ishiba Shigeru, it was stated that such a step was not considered appropriate due to the volatility of crypto assets and the lack of understanding of global movements in this area. According to Japan’s current legal framework, crypto assets like Bitcoin are not classified as foreign exchange reserves or securities. It was also emphasized that the primary goal of the country’s foreign exchange reserves is security and liquidity. On the other hand, there is a requirement to register with the Financial Services Agency in order to operate a crypto asset exchange in Japan. The cautious approach to crypto assets could also affect Japanese investment banks’ plans for crypto-backed exchange-traded funds (ETFs).
Thailand Considers Launching Pilot Project for Bitcoin Payments in Phuket
Thailand plans to use Phuket as a pilot site under its Digital Asset Regulatory Fund, which was launched in 2024 to test Bitcoin payments in the tourism sector. The project, backed by former Prime Minister Thaksin Shinawatra, aims to boost the local economy by attracting tech-savvy tourists. Thaksin argues that stablecoins can increase economic liquidity and predicts that Bitcoin could reach $850,000 in the future. However, cooperation from regulators is needed due to the Bank of Thailand’s ban on crypto payments. Gulf Binance CEO Nirun Fuwattananukul also supports the vision, but emphasizes the importance of regulation. According to Statista, 21% of the Thai population is crypto users, but adoption is expected to slow by 2028. The project’s success will depend on compliance from financial authorities.
South Korea Sanctions North Korean Crypto Hackers and IT Workers
South Korea has imposed sanctions on 15 North Korean individuals and one institution for illegal cyber activities and crypto asset theft. According to Chainalysis, North Korean hackers stole $1.34 billion worth of crypto assets in 2024. The sanctioned individuals work for the 313th Bureau, which is responsible for North Korea’s weapons production and ballistic missile programs and is subject to UN Security Council sanctions. North Korean IT personnel have reportedly been involved in information theft and cyberattacks by working undercover at companies around the world. The sanctions target individuals and institutions that support the regime’s military financing.
Ukraine Prepares Sanctions Over Russia’s Use of Bitcoin
Ukraine has announced plans to impose sanctions to prevent Russia from using Bitcoin and other crypto assets in international trade. Ukrainian Presidential Advisor Vladyslav Vlasiuk said that Russia had previously informed international partners that it was trying to bypass Western sanctions using this method and that preventive measures were being developed. While Russia is trying to continue its trade with countries like China, especially through stablecoins like Tether, the volume of these methods is unclear. Russian Finance Minister Anton Siluanov confirmed that companies are trading internationally with crypto assets, while the Kremlin is known to be creating a legal framework that includes Bitcoin mining and the use of crypto by certain companies.
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BITCOIN (BTC)
BTC is priced at $ 96,500 as of the morning hours with a 0.70% gain in value. The price is currently consolidating in a trading channel defined between 92,232 – 96,512. In the lower region, the level of 92,232, where the price received support from the previous sharp decline, is an important support. If this level is broken, 90,350 or lower levels can be tested. Above, the level of 99,540 stands out as a strong resistance. It can be observed that selling pressure may increase when the price approaches this level. If the price breaks this resistance, Bitcoin is likely to gain upward momentum, exceeding the 100,000 level. In the daily candle structure, an upward move can be expected if the price maintains the short-term ascending support area. However, in an environment where downside risks persist, investors should pay attention to these support and resistance areas. The reactions of the price close to the channel boundaries will be decisive for trading strategies.
ETHEREUM (ETH)
ETH is priced at $ 3388 with a 1.60% gain as of the morning hours. The price has started to rise after the downward pressure and has reacted from the 3.325 – 3.265 range, which was previously tested as support. This region stands out as a potential demand area. If this region is maintained, the price is likely to continue its upward movement. The first upward target is the strong resistance point at 3.613. Breaking this level could accelerate the price’s rise towards the resistance area at 3.829. However, selling pressure is likely to increase at these levels. It should be noted that if a break below 3.325 occurs below, the price could decline to 3.085. In this case, the general direction of the market may show a negative outlook.
RIPPLE (XRP)
XRP is trading at $ 2.1784 with a 1% gain as of the morning hours. Currently, the price is heading towards the critical support level of 1.95. This level has previously been tested as a strong support and allowed the price to rally. If the 1.95 level cannot be maintained, the price is likely to pull lower. On the upside, the first significant resistance is at 2.49. This is the first barrier that the price must overcome in order to rally. Above, the 2.64 level is a strong resistance and selling pressure may increase when the price reaches this level.
AVALANCHE (AVAX)
AVAX is priced at $ 37.68 as of the morning hours with a 0.96% gain in value. It is seen that the price is trying to hold on above a critical support level of 37.67. If this level is lost, the downward movement can be expected to accelerate and continue towards the 32.95 level. This level was tested as a strong support in previous price movements. On the upside, the 42.56 level stands out as the first resistance. If this level is exceeded, the price is likely to recover to the 45.80 level. Above, the 54.43 level appears as the main resistance point and may create strong selling pressure. The current market structure is important in terms of seeing whether the price can maintain the 37.67 level. Closes below the support level may indicate a continuation of the downtrend.
SOLANA (SOL)
SOL is priced at $189.94 with a 0.78% gain as of the morning hours. This support level stands out as a critical point for the upward recovery of the price. If this level is broken downwards, the price is likely to pull back to 183.38. In upward movements, the first resistance level is 201.77. If this level is broken, the price can be expected to rise to 205.00. Above, the 215.27 level stands out as a strong resistance, and if this level is broken, the price can be pushed to 225.21. The main resistance level can be determined as 230.89. If this level is broken, a strong uptrend can be observed. On the other hand, closing below 186.00 can increase selling pressure and pull the price to 183.38. If this level is broken, a deeper pullback can be experienced.
