Institutional Investing

BitGo disclosed in a regulatory filing that it plans to raise up to $201 million in a U.S. initial public offering. The move marks a notable step for the crypto custody firm toward public markets.

Norges Bank Investment Management voted unanimously for all five management proposals at Bitcoin-treasury firm Metaplanet, and the stock rose 1.51% amid a modest BTC rebound. The $2 trillion sovereign fund’s backing is a notable institutional signal for crypto-related corporate governance.

SkyBridge founder Anthony Scaramucci praised MicroStrategy CEO Michael Saylor after the company disclosed its largest Bitcoin purchase in months and showed how its balance sheet is continuing to absorb more BTC supply.

Bitwise executive Matt Hougan says Michael Saylor and MicroStrategy do not intend to sell their Bitcoin holdings, reinforcing institutional commitment to BTC.

Franklin has launched the first regulated altcoin ETF under the SEC’s updated rules, giving investors a vetted way to access non-Bitcoin tokens. The product could redirect institutional flows and test whether altcoins can meaningfully challenge Bitcoin’s market share.

Billionaire Ray Dalio says Bitcoin remains roughly 1% of his portfolio and is not yet fit to serve as a reserve asset. He noted the allocation has been unchanged for years, reflecting continued caution rather than conviction.

Bitcoin slipped about 3% to roughly $98,600, pushing crypto-linked equities lower; MicroStrategy (MSTR), the largest corporate bitcoin holder, tumbled over 6.6% to around $210. The move has renewed questions about whether MSTR should trade as a bitcoin proxy or a standalone software/holdings play.