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Crypto

Bitmine on preliminary list for Russell 1000 inclusion, raising hopes for ETF and passive inflows

U.S.-listed Bitmine Immersion Technologies has been placed on a preliminary list for inclusion in the Russell 1000 index. If inclusion is confirmed, market participants are discussing the possibility of large inflows via passive funds and exchange-traded funds. Chairman Tom Lee said Bitmine’s market capitalisation exceeds the $5.7 billion minimum threshold. Bitmine also disclosed it holds 5,278,462 ether and has staked 4,712,917 ether, while pushing back its 5 percent supply target timeline.

Markets

JPMorgan says SpaceX mega IPO unlikely to drain liquidity from Hong Kong

JPMorgan said a potential mega IPO by Elon Musk's space company SpaceX is unlikely to trigger large-scale liquidity outflows from Asian markets including Hong Kong. It cited investors' continued preference for diversification across regions and sectors, and strong interest in Chinese technology firms. The bank also pointed to a rising pipeline of companies seeking Hong Kong listings and robust first-quarter fund-raising on the exchange's main board.

Crypto

Michael Saylor says he bought bonds instead of bitcoin as Strategy pauses accumulation

Strategy's bitcoin accumulation paused this week, after Executive Chairman Michael Saylor said the company bought bonds instead of bitcoin. He wrote on X that the “BitVac is charging,” a term referring to Strategy’s large-scale buying approach. Strategy recently spent about $2 billion to buy roughly 24,000 bitcoin. It reported holding 843,738 bitcoin, bought for about $63.87 billion in total.