BlackRock Inc. , the world’s largest asset manager, is preparing to launch a Bitcoin exchange-traded product (ETP) in Europe following the success of its $58 billion US Bitcoin ETF. The new fund will likely be based in Switzerland, with marketing possibly starting this month, according to insiders. The FDIC is revising its supervisory approach to crypto activities, replacing Financial Institution Letter 16-2022 to enable institutions to engage with crypto and blockchain while maintaining safety and soundness. Acting Chairman Travis Hill emphasized this shift in oversight. A prominent business intelligence firm and major bitcoin holder reported Q4 results showing its bitcoin holdings nearly doubled within three months. Operating expenses surged 693% YoY to $1. 103 billion, with a net loss of $670. 8 million ($3. 03 per diluted share). Revenues were $120. 7 million, missing estimates by $3 million and down 3% year-over-year. Cash and equivalents fell from $46. 8 million to $38. 1 million. The firm holds 471, 107 BTC valued at about $44 billion, marking its largest quarterly bitcoin acquisition of 218, 887 BTC for $20. 5 billion. The company also announced that its convertible preferred stock, Strike (ticker STRK), will list on Nasdaq Thursday. Strike converts to common stock at a 10:1 ratio, offering a perpetual call option with an 8% fixed dividend. While earlier plans included offering 2. 5 million shares, 7. 3 million were issued at $80 each, raising approximately $563. 4 million in net proceeds. VanEck projects Solana (SOL) to reach $520 by year-end, with a $250 billion market cap. Solana now represents 15% of the smart contract platform (SCP) market, expected to rise to 22% by end-2025 due to strong developer activity, DeFi trading volume, revenue, and user growth.

VanEck’s valuation ties SCP market size to U. S. M2 money supply growth, forecasted at $22. 3 trillion by 2025, growing 3. 2% annually since October 2023. Regression analysis predicts SCP market cap will hit $1. 1 trillion by end-2025, surpassing its 2021 peak. With 487 million SOL tokens circulating, this supports the $520 price target. Senator Cynthia Lummis revealed the Senate Banking Committee found first definitive proof of Operation Chokepoint 2. 0 and pledged that the Digital Assets Subcommittee will hold responsible parties accountable. An analyst noted the Trump administration plans to reduce the 10-year Treasury yield by controlling inflation and fiscal spending, aiming to lower borrowing costs. Treasury Secretary Scott Bessent clarified they are not seeking Fed rate cuts but want to reduce the 10-year yield, which typically encourages investment and risk-taking—often bullish for risk assets like bitcoin. JPMorgan analysts reported that Ethereum’s native coin, ether, underperformed bitcoin and altcoins during the recent crypto rally around the U. S. election. Ether’s market cap share hit a four-year low due to rising competition from Solana and Layer 2 networks offering lower fees and scalability, along with Ethereum lacking a strong narrative compared to Bitcoin’s status as a store of value. Bernstein analysts expect Strategy (formerly MicroStrategy) to increase its balance sheet by $12. 75 billion after adopting new FASB fair-value accounting rules starting January 2025, enabling upward value adjustments of crypto holdings. This will trigger a one-time $12. 75 billion increase in retained earnings. USDD 2. 0 stablecoin surpassed 100 million in circulation within 12 days post-launch. The decentralized stablecoin maintains a 1:1 USD peg through a security liquidation mechanism, dynamic collateral adjustments, and risk controls. Lastly, Glassnode data revealed over 17, 000 BTC, worth more than $1. 6 billion at a $98, 600 price, flowed out of centralized exchanges on Wednesday—the largest daily outflow since April 2024, as highlighted by Bitwise Research Head Andrew Dragosch.