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Crypto

Money exits AI and flows into crypto stocks as miners slump alone

Funds that had crowded into artificial intelligence infrastructure stocks in the U.S. market moved into cryptocurrency-related shares, lifting the sector broadly. BitMine Immersion Technologies jumped after increasing its ethereum holdings, while Coinbase Global, BitGo and Figure Technology also rose. Strategy gained after building cash buffers, and Circle rose after buying IBM’s blockchain patent portfolio. By contrast, bitcoin mining stocks fell sharply, with analysts citing capex and funding concerns.

Crypto

Ethereum Institutional launches to target tokenisation and stablecoins

Ethereum Institutional, a non-profit dedicated to institutional engagement in the Ethereum ecosystem, officially launched on July 1. It separates functions previously handled by the Ethereum Foundation’s business development team and will focus on banks and asset managers. The group plans hubs in several financial centres and will work across five areas including education, marketing and standards. Executives cited growing interest in tokenisation and stablecoins.

Crypto

SharpLink Gaming buys $46.7 million more Ethereum

SharpLink Gaming bought about $46.7 million more of Ethereum, adding 29,195.83 ETH from Galaxy Digital at an average price of $1,599.50 each. The purchase lifted its on-chain Ethereum holdings above 202,000 ETH, valued at about $342 million at current prices. The company is adopting a treasury strategy that treats cryptocurrency as a core reserve asset and emphasises staking. The timing and risks tied to Ethereum price volatility are also highlighted.