Strategy Unveils $500M BTC Stock as Ethereum ETFs Hit Record Inflows

Strategy Unveils $500 Million STRC Stock Offering to Buy More Bitcoin, Targets $84 Billion Raise by 2027

Bitcoin treasury firm Strategy, formerly known as MicroStrategy, announced a new stock product called Stretch (STRC), with plans to raise $500 million through an IPO of 5 million shares priced at $100 each. The proceeds will be used to acquire more Bitcoin and for general corporate purposes. STRC differs from Strategy’s previous offerings by providing a variable monthly dividend starting at 9%, payable from the end of August.

The move follows a series of similar instruments, including STRK, STRF, and STRD, all designed to fund Bitcoin accumulation. Strategy recently acquired another 6,220 BTC, bringing its total holdings to 607,770 BTC—now worth over $71 billion. This expansion is part of a broader $84 billion capital plan running through 2027. Since pivoting to a Bitcoin-focused strategy in 2020, the company’s stock (MSTR) has soared over 2,860%, with Executive Chairman Michael Saylor continuing to champion BTC adoption among public companies.

Polymarket Acquires US-Regulated Exchange QCEX for $112 Million, Plans Return to US Market

Polymarket has acquired QCEX, a CFTC-regulated derivatives exchange and clearinghouse based in Florida, for $112 million, marking the company’s planned return to the US after a more than two-year absence. The decentralized prediction market platform had exited the country in January 2022 after settling regulatory charges with the CFTC, which included a $1.4 million fine. With this acquisition, Polymarket aims to reenter as a fully compliant and regulated entity. The move follows recent reports that both the DOJ and CFTC have dropped their investigations into Polymarket. The company, which surpassed $15 billion in trading volume over the past year, will face competition from Crypto.com and Kalshi, both of which have made their own US prediction market pushes.

Tornado Cash Trial Faces Mistrial Push After Defense Disputes Key Government Witness

Lawyers for Tornado Cash co-founder Roman Storm are considering a mistrial after challenging the credibility of a key prosecution witness in his ongoing criminal trial. The witness, Hanfeng Ling, claimed her stolen crypto was laundered through Tornado Cash following a pig butchering scam. However, Storm’s legal team says they found no evidence her funds ever touched the platform.

Crypto security expert Taylor Monahan also disputed the claim on social media, stating scammers typically avoid using Tornado Cash. The trial, taking place in Manhattan federal court, began last week. Storm is facing charges of conspiracy to commit money laundering and violating U.S. sanctions. If convicted, he faces up to 45 years in prison. He has pleaded not guilty.

Spot Ethereum ETFs See $2.18B Weekly Inflows as Corporate Treasuries Accelerate ETH Accumulation

Traditional finance demand for Ethereum surged last week as spot ETH ETFs posted a record $2.18 billion in net inflows—equivalent to 677,000 ETH—pushing onchain ETF holdings to an all-time high of 5.15 million ETH. Trading volume also hit a record $10.5 billion for the week, with iShares’ ETHA ETF accounting for over 80% of inflows and 70% of total volume.

The broader rally has sent Ethereum’s price up 27% in the past week and 52% in July. Corporate treasuries are now a second major driver, with Sharplink Gaming (SBET) overtaking the Ethereum Foundation as the largest corporate ETH holder at 280,706 ETH ($840 million). SBET, BitMine Immersion (BMNR), and Bit Digital (BTBT) are all using equity raises to aggressively buy ETH. SBET plans to expand its at-the-market offering to $6 billion, pending a shareholder vote on July 24.