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Crypto

Theo becomes first crypto-native platform to allocate funds to Fidelity tokenised fund

On-chain capital markets platform Theo allocated $20 million to Fidelity International’s tokenised liquidity fund, FILQ. The deployment made Theo the first crypto-native platform to allocate capital to a Fidelity International tokenised fund, Cointelegraph reported. The allocation was executed through Swiss digital asset bank Sygnum. As a result, FILQ was included in Theo’s institutional tokenised U.S. Treasury product, thBILL.

Crypto

Bitwise CIO says STRC plunge may signal bitcoin bottom; fall rally possible

Matt Hougan, chief investment officer at Bitwise, said a sharp drop in Strategy preferred stock STRC could be a sign the bitcoin market is forming a bottom. He said the structure supporting STRC is becoming harder to sustain after bitcoin fell below $60,000, raising doubts about dividend capacity. Strategy changed its framework for STRC this week. Hougan said indicators suggest the shift from greed to fear is nearing an end.

Crypto

Strategy may be urged to sell $3 billion worth of bitcoin as STRC dividend burden grows

Strategy, formerly MicroStrategy, may need to dispose of $3 billion worth of bitcoin to ease financial pressure, a view raised as its market valuation deteriorates. Grayscale research chief Jack Pandl said monetising part of its holdings could be the most realistic option if STRC preferred dividends rise. Others said current pricing reflects expectations of limited bitcoin sales, while some argue concerns around STRC are overstated given its structure and long-dated convertible features.