TL;DR: Bitcoin holds near $110K as the U.S. economy shows signs of strength and rate cut hopes persist. Circle seeks a U.S. trust bank license post-IPO. Strategy boosts its BTC stack to 597K. Dormant wallets from 2011 suddenly move $8B in BTC. Fineqia launches a yield-generating Bitcoin ETP in Vienna.
Bitcoin Retakes $110K as Markets Enter H2 on Cautious Optimism
Bitcoin climbed back above $110,000 this week, recovering from a low of $106,000 earlier in the week and trading around $109,600 ahead of the U.S. Independence Day holiday. The price move followed the latest U.S. jobs report, which showed 147,000 new jobs added in June and unemployment dropping slightly to 4.1%. While the data suggests a resilient labor market, it also reinforced the Federal Reserve’s decision to maintain rates, with Chairman Jerome Powell signaling a potential rate hold through the fall.
Political developments added an extra layer of complexity. The House passed President Trump’s “Big Beautiful Bill” by a narrow 218–214 margin, with no direct references to digital assets. However, crypto supporters noted that Senator Cynthia Lummis (R-WY) introduced a separate bill offering favorable tax treatment for crypto investors, which she had previously sought to attach to the broader legislation. The bill's introduction hints at ongoing momentum for pro-crypto policy as Congress resumes session after the holiday.
While the Fed’s policy trajectory remains cautious, regulatory and legislative developments may continue to act as undercurrents for institutional positioning through the summer.
Strategy Adds $532M in Bitcoin, Now Holds Over 2.8% of Supply
Strategy added another 4,980 BTC to its treasury between June 23 and 29, investing approximately $532 million via equity sales and its preferred stock programs. The company’s bitcoin holdings now stand at 597,325 BTC—worth over $64 billion and accounting for more than 2.8% of the total supply in circulation. This latest acquisition reaffirms Strategy’s long-term conviction in bitcoin as a strategic reserve asset.
Executive Chairman Michael Saylor hinted at even greater accumulation ahead, reiterating his projection that bitcoin could reach $21 million per coin within two decades. The firm plans to raise up to $84 billion through equity and convertible notes by 2027 to support ongoing purchases. This capital strategy mirrors traditional corporate treasury models while leveraging bitcoin’s asymmetric upside potential.
Circle Applies for U.S. Trust Bank License After $18B IPO
Circle has formally applied for a national trust bank charter in the United States, following its recent IPO that valued the company at nearly $18 billion. If approved, the new entity—First National Digital Currency Bank, N.A.—would allow Circle to custody its own USDC reserves and offer tokenized asset custody services to institutional clients. Unlike traditional banks, the charter does not permit deposit-taking or lending.
CEO Jeremy Allaire framed the move as the next step in Circle’s long-term compliance and governance roadmap. The new bank would serve as custodian for USDC’s reserves, which are currently managed by BlackRock and held at BNY Mellon, while expanding Circle’s ability to support tokenized financial products beyond crypto-native assets. Allaire emphasized a focus on tokenized stocks, bonds, and other financial instruments.
If successful, Circle would become the second crypto-native firm to receive a national trust bank license, following Anchorage Digital. The move also reflects broader efforts by stablecoin issuers to formalize their role within the U.S. financial system and align with regulatory expectations around transparency and reserve management.
Dormant Bitcoin Wallets Move $8B After 14 Years of Inactivity
Several legacy bitcoin wallets, holding over 10,000 BTC each since April 2011, were reactivated last week, transferring their entire balances within minutes of each other. Originally funded when bitcoin was worth less than $1, these wallets had remained untouched for over 14 years.
Blockchain data shows that the funds were moved to newly created wallets using modern address formats, suggesting an intentional and security-focused migration. While the origin and purpose of the transfers remain unknown, Lookonchain analysts have linked the wallets to a group of addresses that received large amounts of BTC on the same day in May 2011—raising the possibility of a single entity behind them.
The activation of these “satoshi-era” wallets adds intrigue to a market environment where bitcoin is holding steady above $100,000. Although the coins have not been sold or moved again since, the reawakening of long-dormant holdings serves as a reminder of bitcoin’s deep historical footprint and evolving dynamics of coin distribution.
Fineqia Launches Bitcoin Yield ETP on Vienna Stock Exchange
Fineqia has introduced a new bitcoin-based exchange-traded product (ETP) on the Vienna Stock Exchange, offering investors exposure to BTC along with a targeted 6% annual yield through DeFi strategies. The product, listed under the ticker YBTC, reinvests yield into additional bitcoin holdings, enabling holders to grow their exposure over time.
Unlike traditional passive ETPs that track bitcoin’s spot price, YBTC actively generates yield via decentralized lending and liquidity provisioning. It supports in-kind transfers, allowing existing bitcoin holders to contribute assets without conversion costs. The product is regulated and available to both institutional and retail investors.
YBTC is issued by Fineqia AG, with Psalion Operations Ltd acting as advisor. The product marks the first regulated ETP globally to offer bitcoin-based yield through DeFi, further diversifying the landscape of digital asset investment vehicles. Fineqia's move positions it as a pioneer in combining yield generation with long-term crypto asset exposure in a regulated format.
LinkedIn
Youtube
Medium
Twitter
