SEC filing Archives - Coin Engineer

Tether Buys $459M Bitcoin For Twenty One Capital

Yigit Taha OZTURK — Wed, 14 May 2025 09:30:05 +0000

As uncertainty looms large in global markets, institutional investors are doubling down on Bitcoin as a strategic asset. In a bold move that signals confidence in crypto’s long-term potential, Tether has made headlines with its latest acquisition.

Tether Acquires 4,812 Bitcoin for Strategic Investment

Stablecoin issuer Tether purchased 4,812 BTC valued at $458.7 million for its affiliate investment firm, Twenty One Capital. The purchase was executed on May 9 at an average price of $95,319, with the assets transferred into escrow. The transaction was disclosed in a filing by Cantor Equity Partners to the SEC on May 13.

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Following this deal, Twenty One now holds a total of 36,312 BTC, placing it among the top corporate holders of Bitcoin. The firm is expected to trade under the ticker “XXI” upon the completion of a SPAC merger with Wall Street heavyweight Cantor Fitzgerald.

According to CEO Jack Mallers, the merger is in the approval phase. Unlike traditional firms, Twenty One Capital focuses not on earnings per share, but on “Bitcoin per share,” positioning itself as a pure vehicle for crypto-native investors.

The company aims to accumulate 42,000 BTC, with contributions projected as follows: 23,950 Bitcoin from Tether, 10,500 from SoftBank, and 7,000 from Bitfinex, to be converted into equity at $10 per share.

A New Challenger to Strategy?

In its SEC filings, Twenty One Capital expressed its ambition to overtake Strategy (formerly MicroStrategy) as the most efficient vehicle for Bitcoin exposure. Promising agility and operational alignment with Bitcoin’s core ethos, the firm might soon redefine institutional crypto investing.

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Canary Capital Files for First-Ever Staked SEI ETF With SEC

Yigit Taha OZTURK — Thu, 01 May 2025 10:30:15 +0000

Canary Capital has submitted an application to the U.S. Securities and Exchange Commission (SEC) for the industry’s first-ever Staked SEI ETF. This innovative product will allow traditional investors to gain exposure to SEI, the native token of the Sei Network, without having to interact directly with blockchain infrastructure.

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The ETF will track the spot market price of SEI as determined by CoinDesk Indices, and its Net Asset Value (NAV) will be published daily at 4 PM New York time. It will not use derivatives but instead hold actual SEI tokens in custody.

Earn Rewards Through SEI Staking

Custody of SEI tokens will be managed by BitGo Trust Company and Coinbase Custody Trust Company. While not insured by the FDIC, both custodians maintain private insurance policies to mitigate risks.

This ETF simplifies SEI investment for regular investors, eliminating the need for blockchain knowledge, private key management, or staking know-how. One of its standout features is its integration with staking, allowing the fund to earn additional SEI rewards via the proof-of-stake (PoS) mechanism of the Sei Network.

Canary Capital is also pursuing other crypto ETFs, including a TRX-backed fund. While the SEI ETF is still pending SEC approval, its launch could mark a significant step forward in making digital assets accessible through mainstream investment platforms.

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21Shares Updates Polkadot (DOT) ETF Filing!

Yigit Taha OZTURK — Wed, 16 Apr 2025 08:30:34 +0000

21Shares has submitted an updated S-1 filing to the U.S. SEC for its proposed spot Polkadot (DOT) exchange-traded fund (ETF), signaling continued institutional interest in crypto investment vehicles.

SEC Filing Updated on March 6

The new filing, dated March 6, updates the original application submitted on January 31. It may have been revised to address SEC feedback or to include additional information.

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21Shares isn’t alone in its ambitions. Grayscale submitted its own Polkadot ETF application to the SEC via Nasdaq on February 25. These filings highlight a growing race among asset managers to secure crypto ETF approvals.

Meanwhile, DOT continues to trade around $4.50, maintaining a crucial support zone at $4. On the weekly chart, DOT appears to be forming a falling wedge pattern — a potential bullish reversal signal. A breakout above the $10 level would confirm the pattern and could trigger a strong rally. However, falling below $4 would invalidate the setup and may lead to a drop to $3.60.

Polkadot 2.0 Launch Adds Momentum

In addition to the ETF developments, investors are closely watching the anticipated Polkadot 2.0 upgrade, expected in Q1 of 2025. The upgrade aims to significantly boost the network’s scalability and developer experience. A testnet version is already available via the Kusama network.

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Semler Scientific Proposes $500M Stock Sale!

Yigit Taha OZTURK — Wed, 16 Apr 2025 07:30:22 +0000

Healthcare tech company Semler Scientific has disclosed a substantial paper loss on its Bitcoin (BTC) holdings but plans a bold move to raise $500 million, partly to buy more Bitcoin.

Bitcoin Drops, $42M in Unrealized Losses

According to an April 15 SEC filing, Semler Scientific reported an unrealized loss of approximately $41.8 million on its Bitcoin holdings since December 31.

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As of March 31, the company held 3,182 BTC, valued at approximately $263.5 million. Over Q1 2025, Bitcoin dropped 12%, from $93,500 in early January to $82,350 at quarter’s end.

Revenue and Operational Update

Semler expects revenues of between $8.8 million and $8.9 million for the quarter, along with an operational loss of $1.3 million to $1.5 million. It reported around $10 million in cash and cash equivalents.

Semler Scientific has also agreed in principle to pay $30 million to settle civil claims raised by the U.S. Department of Justice. Further details on the investigation remain undisclosed.

Bold Move: $500M Securities Offering

In a separate SEC filing on April 15, the firm outlined its plan to offer up to $500 million in securities, stating part of the proceeds will be used to acquire additional Bitcoin.

Semler’s stock, listed under ticker SMLR on Nasdaq, is down 36% year-to-date. The company cautioned about continued volatility but reaffirmed its commitment to long-term Bitcoin accumulation.

Despite facing losses, Semler Scientific remains committed to its dual strategy: growing its healthcare business while investing heavily in Bitcoin. Investors should watch closely as the company navigates regulatory challenges and volatile markets.

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MARA Holdings Plans Huge $2B Stock Offering to Buy More Bitcoin

Yigit Taha OZTURK — Mon, 31 Mar 2025 10:30:15 +0000

MARA Holdings is set to sell up to $2 billion in stock to increase its Bitcoin holdings, following a strategy similar to MicroStrategy‘s approach.

Stock Sale to Fund More Bitcoin Purchases!

MARA Holdings, formerly known as Marathon Digital, announced in a March 28 SEC filing that it has entered an agreement with investment firms, including Cantor Fitzgerald and Barclays, to sell up to $2 billion worth of stock. The company stated that proceeds will be used for general corporate purposes, including acquiring more Bitcoin and covering working capital expenses.

This strategy mirrors that of MicroStrategy, the largest corporate holder of Bitcoin, which has used stock offerings to acquire 506,137 BTC, valued at approximately $42.4 billion.

MARA’s Expanding Bitcoin Holdings!

MARA Holdings is the second-largest publicly traded Bitcoin holder, with 46,374 BTC, worth around $3.9 billion. In July, CEO Fred Thiel stated that the company had adopted a “full HODL” approach, meaning it would not sell mined Bitcoin to fund operations but instead continue accumulating the asset.

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This new stock sale follows a similar move in early 2023, when MARA Holdings sold up to $1.5 billion worth of shares. Additionally, in November, the company issued $1 billion in zero-coupon convertible senior notes, primarily to fund more Bitcoin purchases.

Market Reaction and Bitcoin Price Update

Following the announcement, MARA‘s stock closed 8.58% lower on March 28 at $12.47. The stock continued to decline, falling another 4.6% in overnight trading to $11.89 on March 30. This drop comes amid broader concerns in the crypto mining sector after reports suggested Microsoft had abandoned plans to invest in new data centers.

Meanwhile, Bitcoin is trading just above $82,000, down 1.2% in the past 24 hours, after briefly touching a local high of around $83,500.

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Canary Capital Registers SUI ETF in Delaware!

Yigit Taha OZTURK — Fri, 07 Mar 2025 07:00:56 +0000

Canary Capital has filed to establish a trust structure in Delaware for a SUI-based exchange-traded fund (ETF). This move signals the firm’s intention to initiate the official application process with the U.S. Securities and Exchange Commission (SEC).

This development follows the recent announcement by World Liberty Financial of its strategic partnership with the Sui blockchain, including plans to add SUI to its strategic reserve fund, “Macro Strategy.” Following this partnership announcement, SUI surged over 10%, reaching $3. However, the Canary SUI ETF filing did not have an immediate impact on the price.

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Canary Capital and Grayscale Investments have emerged as the most active asset managers in the alternative crypto investment fund space. In addition to its SUI-focused ETF, the firm is also planning funds that track digital assets like Litecoin (LTC), XRP, Solana (SOL), and Hedera Hashgraph (HBAR).

Furthermore, Canary Capital has submitted an S-1 registration with the SEC for the Canary AXL ETF, which focuses on AXL, the native token of the Axelar Network. If the SEC approves the application, Canary Capital will officially become the first asset manager to introduce a Sui-based ETF in the United States.

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Solana ETF Applications Surge as Gensler’s Resignation Date Confirmed

Yigit Taha OZTURK — Fri, 22 Nov 2024 14:00:39 +0000

Bitwise, VanEck, 21Shares, and Canary Capital have submitted their S-1 registration filings to list spot Solana ETFs. On the same day, the Cboe BZX Exchange filed four 19b-4 applications to list the Solana ETFs after SEC Chairman Gary Gensler announced his resignation. If approved, the ETFs would be traded on the Chicago Board Options Exchange (CBOE)’s BZX Exchange.

The 19b-4 filings inform the SEC of a proposed rule change by a self-regulatory organization like a financial regulatory body or stock exchange. These filings are different from the S-1 registration statements that VanEck and 21Shares submitted earlier in June and Canary Capital filed in late October.

On November 20, Bitwise registered a statutory trust for its Solana ETF in Delaware, signaling its intent to seek regulatory approval. The company then filed its S-1 registration statement on November 21.

This move came as Gary Gensler announced he would resign on the same day Donald Trump was set to begin his presidency. Though Gensler was expected to serve until 2026, his voluntary resignation aligns with Trump’s promise to fire Gensler on “Day 1” of his presidency.

Expectations for a Friendlier Regulatory Environment

Many industry experts are now expecting a more favorable regulatory environment under Trump’s leadership. With a new SEC administration and clearer regulations, the debate over Solana’s potential classification as a security may become less of a concern.

21Shares emphasized that they believe Solana’s native token, SOL, qualifies as a commodity eligible for ETF inclusion, as no court has classified SOL as a security.

Meanwhile, filings for spot XRP and Litecoin ETFs have also been made, with Franklin Templeton applying for a crypto index ETF. However, the SEC has delayed its decision until January 2025.

Solana’s Performance Sparks Interest

Solana has been one of the top performers in the current bull cycle, rising over 2,500% to $254.71, just 1.2% off its all-time high of $259.96. Although analysts expect limited inflows into Solana ETFs compared to Bitcoin and Ethereum, Solana’s strong performance has attracted significant attention.

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Goldman Sachs Sets a Record with Bitcoin ETF Investments!

Yigit Taha OZTURK — Fri, 15 Nov 2024 18:00:08 +0000

Once skeptical of cryptocurrencies, Goldman Sachs is now making headlines with its massive Bitcoin ETF investments. According to a November 14 SEC filing, the bank disclosed a total of $718 million in Bitcoin ETF holdings. This marks a $300 million addition since Q2 2024, increasing its Bitcoin ETF portfolio by 71%.

Major Investments in BlackRock and Fidelity ETFs

Goldman Sachs made its largest investment of $461 million in BlackRock’s iShares Bitcoin Trust ETF (IBIT). Additionally, the bank allocated $96 million to Fidelity’s Wise Origin Bitcoin Fund, $72 million to Grayscale Bitcoin Trust ETF, and $60 million to Invesco Galaxy Bitcoin ETF. Smaller investments include $22.5 million in Bitwise Bitcoin ETF and $3 million in the ARK 21Shares Bitcoin ETF.

Goldman Sachs didn’t stop at Bitcoin ETFs. The bank also invested in Ethereum ETFs, including $22 million in Grayscale Ethereum Mini Trust ETF and $2.6 million in Fidelity Ethereum Fund.

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These moves highlight a significant shift from Goldman Sachs’ earlier stance on cryptocurrencies. In 2020, the bank dismissed Bitcoin as a “non-investment asset class” unsuitable for clients. Even after establishing a BTC derivatives trading desk in 2021, skepticism persisted among executives like Sharmin Mossavar-Rahmani, who likened the crypto surge to the 1600s tulip mania and declared, “We’re not believers in crypto.”

Today, however, Goldman Sachs is strengthening its influence in the crypto space with substantial investments, signaling a notable transformation in its approach.

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