Corporations Outpace ETFs in Bitcoin Purchases for Third Straight Quarter
The price of the first cryptocurrency remains resilient thanks to demand from publicly traded companies. In parallel, the SEC is accelerating the approval of exchange-traded funds based on crypto-assets. This was reported by analysts at QCP Capital.
Public companies have outpaced ETFs in Bitcoin purchases for the third consecutive quarter. Firms like ProCap BTC LLC, Strategy, and Metaplanet continue to build positions in Bitcoin, viewing it as a strategic asset. This reinforces the narrative of buying on price drawdowns, QCP noted.
Regulators Are Accelerating Adoption
The Commission has approved the launch of Ethereum- and Solana-based ETFs with staking capabilities and has also given the green light to the Grayscale fund, which includes BTC, ETH, XRP, SOL, and ADA.
The SEC is considering common listing standards for token-based funds. According to QCP, this initiative could simplify and expedite their approval process in the future.
Corporate Adoption
The trend of adding digital assets to corporate balance sheets is growing:
Bitmine raised $20 million to accumulate Ethereum and generate staking revenue.
DeFi Development received $100 million to acquire Solana and buy back shares.
Infrastructure players are also expanding their presence. USDC stablecoin issuer Circle has applied for a banking license in the US. Robinhood has been active in Europe, launching open-ended futures and tokenized shares.
Market Analysis
Liquidity in the cryptocurrency market continues to grow. Solana futures volume on the CME reached a record 1.75 million contracts, and XRP futures trading volume exceeded $500 million in the first month.
Meanwhile, implied volatility remains near historic lows. Traders' positions indicate accumulation of Bitcoin. Bitcoin's dominance is holding at a multi-year high of 65–66%.
Analysts noted that retail traders have taken a pause, while institutional traders are quietly building up positions. Experts expect a possible change in the volatility regime in the third and fourth quarters.
Macroeconomic Factors
Macroeconomic conditions in the U.S. remain favorable for risk assets, including cryptocurrencies. President Donald Trump has criticized Fed chief Jerome Powell and signaled that he intends to appoint a successor committed to cutting rates.
Markets are already pricing in more rate cuts than the Federal Reserve is predicting. This positive sentiment has spread to digital assets, although the backdrop in the altcoin sector remains subdued.
In June, QCP stated that Bitcoin would benefit from global uncertainty.
On July 1, U.S. ETFs based on Bitcoin recorded an outflow of $342.2 million. That broke a 15-day streak totaling $4.7 billion.
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Corporations Outpace ETFs in Bitcoin Purchases for Third Straight Quarter
The price of the first cryptocurrency remains resilient thanks to demand from publicly traded companies. In parallel, the SEC is accelerating the approval of exchange-traded funds based on crypto-assets. This was reported by analysts at QCP Capital.
Public companies have outpaced ETFs in Bitcoin purchases for the third consecutive quarter. Firms like ProCap BTC LLC, Strategy, and Metaplanet continue to build positions in Bitcoin, viewing it as a strategic asset. This reinforces the narrative of buying on price drawdowns, QCP noted.
Regulators Are Accelerating Adoption
The Commission has approved the launch of Ethereum- and Solana-based ETFs with staking capabilities and has also given the green light to the Grayscale fund, which includes BTC, ETH, XRP, SOL, and ADA.
The SEC is considering common listing standards for token-based funds. According to QCP, this initiative could simplify and expedite their approval process in the future.
Corporate Adoption
The trend of adding digital assets to corporate balance sheets is growing:
Bitmine raised $20 million to accumulate Ethereum and generate staking revenue.
DeFi Development received $100 million to acquire Solana and buy back shares.
Infrastructure players are also expanding their presence. USDC stablecoin issuer Circle has applied for a banking license in the US. Robinhood has been active in Europe, launching open-ended futures and tokenized shares.
Market Analysis
Liquidity in the cryptocurrency market continues to grow. Solana futures volume on the CME reached a record 1.75 million contracts, and XRP futures trading volume exceeded $500 million in the first month.
Meanwhile, implied volatility remains near historic lows. Traders' positions indicate accumulation of Bitcoin. Bitcoin's dominance is holding at a multi-year high of 65–66%.
Analysts noted that retail traders have taken a pause, while institutional traders are quietly building up positions. Experts expect a possible change in the volatility regime in the third and fourth quarters.
Macroeconomic Factors
Macroeconomic conditions in the U.S. remain favorable for risk assets, including cryptocurrencies. President Donald Trump has criticized Fed chief Jerome Powell and signaled that he intends to appoint a successor committed to cutting rates.
Markets are already pricing in more rate cuts than the Federal Reserve is predicting. This positive sentiment has spread to digital assets, although the backdrop in the altcoin sector remains subdued.
In June, QCP stated that Bitcoin would benefit from global uncertainty.
On July 1, U.S. ETFs based on Bitcoin recorded an outflow of $342.2 million. That broke a 15-day streak totaling $4.7 billion.
Read More