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Crypto

DCG-backed Uma launches Bittensor investment fund for institutions

Uma, backed by Digital Currency Group, has launched an institutional investment product called the Uma Total Market Fund. The fund offers exposure in one vehicle to Bittensor’s native token TAO and AI-focused subnets, allowing institutions to invest across the Bittensor ecosystem without selecting individual subnet tokens. Uma said the combined value of 128 subnets exceeds $900 million. Interest and related products tied to TAO are also expanding among asset managers.

Crypto

JPMorgan warns Strategy\'s bitcoin sale plan could raise volatility risk

JPMorgan warned that Strategy’s plan to sell bitcoin under a monetisation programme could increase price volatility in the cryptocurrency market. It said the plan could introduce unnecessary two-way risks as Strategy could become both a large buyer and seller. JPMorgan argued Strategy should build larger cash reserves, possibly by issuing common stock, to cover 24 to 36 months of dividend and interest payments. It also cited weak institutional flows into U.S. spot bitcoin ETFs.

Crypto

Long-term holders are not selling, why views differ on Bitcoin cycle bottom

Bitcoin supply held by long-term holders has reached a record high, prompting expectations that this market cycle’s bottom could form sooner than expected. Swan Bitcoin CEO Cory Klippsten cited on-chain data showing long-term holder balances at an all-time high. Others see the bottom later, with Rabbit Mining Pool founder Zhang Zhuoer projecting an October-to-December 2026 low near $42,000 to $44,000. Grayscale and Galaxy Digital flagged uncertainty over the U.S. Clarity Act.