Grayscale launches Bitcoin Adopters ETF targeting firms holding BTC as treasury reserve

  • The fund, launched April 30, tracks a diversified group of firms with Bitcoin treasury strategies.
  • Notable constituents include Michael Saylor’s Strategy, mining firm Marathon Digital Holdings (MARA), Tesla and Japanese BTC-focused firm Metaplanet.
  • The launch comes amid a sharp uptick in institutional Bitcoin buying.

Asset manager Grayscale has introduced a new exchange-traded fund—Grayscale Bitcoin Adopters ETF—designed to give investors exposure to companies actively holding Bitcoin on their balance sheets.

The fund, launched April 30, tracks a diversified group of firms with Bitcoin treasury strategies spanning across seven sectors, including mining, automotive, and energy.

Notable constituents include Michael Saylor’s Strategy, mining firm Marathon Digital Holdings (MARA), Tesla, Japanese BTC-focused firm Metaplanet, and aerospace energy player KULR Technology Group.

The ETF reflects the rising corporate trend of adopting Bitcoin as a strategic reserve asset, aiming to hedge against fiat currency inflation and boost shareholder value.

Accelerating corporate demand for BTC

The launch comes amid a sharp uptick in institutional Bitcoin buying.

Fidelity Digital Assets recently reported that public companies have acquired over 30,000 BTC per month in 2025, significantly outstripping supply from miners.

According to Fidelity, Bitcoin’s circulating exchange supply is falling, driven by continuous corporate accumulation.

Michael Saylor’s Strategy remains the largest corporate Bitcoin holder outside of exchanges, and continues its aggressive purchasing.

Bitcoin could hit fresh highs thanks to corporate accumulation

Bitcoin may be poised to reach new highs as corporate accumulation and renewed ETF inflows tighten supply, according to a client note from research and brokerage firm Bernstein on Monday.

Analysts led by Gautam Chhugani said that short-term comparisons between Bitcoin and assets like gold or the Nasdaq can be misleading, and more meaningful indicators include reduced retail selling, growing corporate treasury demand, and strong ETF inflows.

The note follows the announcement of Twenty One Capital, a new Bitcoin corporate treasury venture launched last week by SoftBank, Tether, Bitfinex, and Cantor Fitzgerald, starting with 42,000 BTC.

The venture is backed by $900 million from SoftBank, $1.5 billion from Tether, and $600 million from Bitfinex, with plans to merge with Cantor Equity Partners via a SPAC and raise another $585 million at closing.

Bernstein likened the strategy to that of Strategy, which raised $22 billion in 2024 and $8.6 billion so far in 2025 to expand its Bitcoin holdings.

The analysts noted that corporate accumulation is becoming more competitive, with around 80 companies now holding a combined 700,000 BTC—roughly 3.4% of the total supply.

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P2P.org named TRON Super Representative Validator, bringing institutional TRX staking services

  • The move adds TRON to the list of more than 40 networks supported by P2P.org.
  • This opens up new channels for institutional TRX staking on the TRON blockchain.
  • TRON’s Super Representatives are a group of 27 elected validators.

P2P.org, a prominent provider of validation and staking services across several blockchain networks, has been named a Super Representative Validator on the TRON network.

The move adds TRON to the list of more than 40 networks supported by P2P.org and opens a channel for institutional staking of TRX tokens.

TRON’s Super Representatives are 27 elected validators responsible for producing blocks every three seconds, validating transactions, participating in governance, and distributing rewards to voters, playing a central role in the network’s delegated proof-of-stake (DPoS) system.

As a new Super Representative, P2P.org is set to contribute to the resilience of TRON’s infrastructure while offering institutional players direct access to staking opportunities on the network.

“Becoming a TRON Super Representative Validator represents a significant advancement in our validator portfolio,” said Alex Esin, CEO at P2P.org.

“This expansion strengthens our position across more than 40 networks and creates valuable new opportunities for our institutional partners to optimize their TRX holdings with industry-leading staking solutions.”

“With its scalability and minimal transaction costs, TRON has become the blockchain of choice for an increasing number of DeFi platforms focused on institutional adoption,” said Sam Elfarra, Community Spokesperson for the TRON DAO.

“As the builders of a thriving ecosystem with hundreds of institutional clients, we are thrilled to welcome P2P.org as a Super Representative.”

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Libre and the TON Foundation to launch a $500M Telegram Bond Fund

  • Libre and TON Foundation will launch a $500M Telegram Bond Fund on the TON blockchain
  • The tokenised bond fund offers accredited investors on-chain access to Telegram’s institutional-grade bond yields.
  • Tokenised bonds exemplify the transformative potential of blockchain to democratize access to sophisticated financial instruments.

Libre and the TON Foundation are collaborating to create a $500 million Telegram Bond Fund ($TBF) on the TON blockchain, marking one of the largest tokenised corporate debt ventures in history.

In a blog on TON’s website, Max Crown, the CEO of the TON Foundation, underscores that this collaboration “unlocks powerful new opportunities for TON’s community to engage with real-world assets in a secure and accessible way,” solidifying TON’s leadership in regulated asset tokenisation.

Tokenising Telegram bonds

By digitising a slice of Telegram’s $2.35 billion in outstanding bonds, $TBF offers accredited investors an unprecedented on-chain gateway to institutional-grade fixed-income products with yields reaching up to 9.4%.

The new fund introduces seamless subscription, redemption, and transfer capabilities through its multi-phase Libre Gateway infrastructure, leveraging Libre’s proven track record, which has tokenised over $200 million in assets alongside titans like BlackRock and Brevan Howard.

With TON’s deep integration into Telegram’s ecosystem of over 950 million users, investors can now access and manage their tokenised bond holdings directly from TON-native wallets, bridging the gap between fiat, stablecoins, and decentralised finance.

Through $TBF, tokenised bonds can serve not only as yield-bearing instruments but also as on-chain collateral for borrowing, yield farming, and a growing array of decentralised finance (DeFi) products built on TON’s scalable network.

Dr. Jez Mohideen, Chairman of Libre and CEO of Laser Digital, emphasises that TON’s unique symbiosis of mass-market usability and institutional infrastructure creates “a seamless bridge between TradFi and DeFi for a global, digitally native audience.”

The launch arrives amid an $18.9 billion surge in real-world asset tokenisation, where corporate debt has historically lagged behind commodities and real estate, positioning $TBF as a catalyst for broader market adoption.

By enabling future issuances of Telegram bonds to flow through the same compliant, on-chain framework, Libre and the TON Foundation are laying the groundwork for an enduring ecosystem of digital debt markets.

Institutional participants can now tap into a fully on-chain issuance stack that promises transparency, efficiency, and regulatory compliance, while retail users stand to benefit from a new frontier of yield and utility seamlessly embedded in their favourite messaging app.

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Arthur Hayes at Token2049 says Bitcoin will hit $1 million by 2028

  • Arthur Hayes has predicted Bitcoin price will reach $1 million in 2028.
  • Hayes shared the bold forecast during a keynote speech at Token2049 in Dubai.
  • Bitcoin price reached an all-time high of $109k.

Arthur Hayes, the former CEO of BitMEX, has again offered a massive prediction for Bitcoin (BTC), stating during a keynote speech at Token2049 in Dubai that the benchmark cryptocurrency could skyrocket to $1 million by 2028.

The Maelstrom CIO, known for his sharp market insights, told investors that this could be the time to “go long on everything.”

Hayes’ bullish prediction for BTC comes as the top coin’s price hovers near $95k, with buyers eyeing a march to $100k and potentially a new all-time high.

Notably, Bitcoin’s price has swung wildly in recent months amid tariffs uncertainty and broader risk-off sentiment.

What! Bitcoin to $1 million?

Bitcoin reached highs of $109k and analysts predict a run to $150k-$250k by end of 2025.

Above this, bulls, including Michael Saylor, see Bitcoin price going vertical to $1 million and beyond.

In his speech, which largely mirrored his perspectives on expected macroeconomic shifts, Hayes looked at the current global markets and US. fiscal policies.

According to him, the market is set for a flood of liquidity, and with it, Bitcoin’s parabolic surge to new heights.

Hayes grounds his analysis on the monetary policy, with comparisons to the outlook in the third quarter of 2022.

While the implosion of crypto exchange FTX later accelerated the bear market, investor sentiment was largely on the floor amid rate hike fears.

The US government’s pumping of $2.5 trillion into the system via its repo program in that year is a blueprint for what’s likely to come.

The BitMEX co-founder recently highlighted the US Treasury’s Quarterly Refunding Announcement for further context.

Higher borrowing estimates and a lower Treasury General Account (TGA) target, are factors that signal a potential short term flip for Bitcoin.

While tariffs could pose volatility risks, Hayes massive buying of Treasuries is what could boost liquidity indirectly, paving the way for Bitcoin’s ascent to $1 million by 2028.

Recently, Cathie Wood’s Ark Invest shared a $1 million price target for BTC by 2030.

Meanwhile, analysts at CryptoQuant are pointing to Bitcoin hitting new all-time highs in terms of realized capitalization.

Per the analysts, this metric hitting new ATHs has often preceded massive price gains for BTC.

On-chain data shows whales have been aggressive in the past fortnight.

Per crypto analyst Ali Martinez, whales bullish on BTC have accumulated more than 43,100 BTC in the past two weeks. The total value of the accumulated assets stood at nearly $4 billion.

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SEC delays decision on Franklin Templeton’s spot XRP ETF

  • The US SEC has delayed its decision to approve or disapprove Franklin Templeton’s application for a spot XRP ETF.
  • SEC has extended the period of review for the XRP ETF to June 17, 2025.
  • ETF expert James Seyffart says most of the final verdicts for most ETF proposals are made in October or later.

The US Securities and Exchange Commission has postponed its decision on Franklin Templeton’s proposed spot XRP exchange-traded fund.

SEC’s announcement on April 29, 2025, states that the regulator will now have until June 17, 2025.

This is the date by which it will have to make a decision on whether to approve or reject the XRP spot ETF.

A fresh delay allows the agency more time to evaluate the Franklin Templeton proposal.

SEC postpones decision on Franklin Templeton’s XRP ETF

According to the SEC’s filing, the agency requires a longer period to assess Franklin Templeton’s application, which was initially filed on March 19, 2025.

The proposal aims to list and trade shares of the Franklin XRP Fund under NYSE Arca Rule 8.201-E.

SEC noted that the extended review period, now set at 45 days, may be further prolonged up to 240 days from the initial publication in the Federal Register, potentially delaying a final decision until mid-October 2025.

Per the SEC’s filing, the delay is within the law and offers it time to thoroughly examine the proposed rule change and its alignment with self-regulatory organization requirements.

Not entirely new, the move aligns with a pattern of cautious deliberation the SEC has adopted regarding crypto-related financial products, having taken years to approve spot Bitcoin ETFs and Ether spot ETFs.

ETF analyst on what’s next?

Despite delays, investor demand for such crypto ETFs continues to surge.

Over the past few months, issuers have filed over 70 proposals seeking a green light to list exchange-traded funds on top altcoins. XRP, Solana, Litecoin, Hedera, and Dogecoin are among the most highly anticipated.

Commenting on the delay, Bloomberg ETF analyst James Seyffart said he expects more of these SEC delays this week and in the coming days.

Notably, the regulator has also deferred its rulings on Ethereum staking and Dogecoin ETFs.

Seyffart anticipates that final deadlines for most of the ETF filings will be in October 2025 or later.

“I am expecting more delays today or at least this week on some Solana and Hedera/HBAR ETF filings. This is expected IMO. Final deadlines for most of this stuff is in October 2025 or later,” Seyffart noted.

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