Weekly Update: 6th of June

What happened between the 30th of May and the 6th of June?

• Circle raised $1.1 billion in its NYSE IPO—well above projections. Shares surged 168% on day one, reflecting strong institutional demand and market confidence. Read more
• Bitcoin 2025 highlights BTC’s strategic role: Speakers like JD Vance and Arthur Hayes predict rising adoption and significant price increases for Bitcoin. Read more
• The SEC rules that staking does not fall under securities law, clearing the way for staking ETFs for Ethereum and beyond. Read more
• Robinhood acquires crypto exchange Bitstamp, expanding its regulated crypto offering into Europe and institutional markets. Read more
• Trump opens the door for crypto in 401(k) pension plans — a structural breakthrough for institutional adoption in the U.S. Read more

Circle's IPO Overtakes Expectations with $1.1 Billion Raised

Stablecoin issuer Circle has significantly surpassed expectations with its IPO on the New York Stock Exchange, raising $1.1 billion—well above the anticipated $880 million. The offering was oversubscribed by more than 25 times, reflecting strong institutional demand. Shares were priced at $31, above the initial range of $27–$28, and closed at $83.23, marking a 168% increase on the first trading day. This performance values Circle at approximately $18.4 billion, signaling robust investor confidence in regulated crypto enterprises. The IPO's success may pave the way for more digital asset firms to enter public markets amid a favorable regulatory environment.

Bitcoin 2025 Conference outlines future vision

Last week, the Bitcoin 2025 conference took place in Las Vegas, gathering influential speakers, including Vice President JD Vance. He emphasized the importance of a strategic Bitcoin reserve to support national financial sovereignty, suggesting that BTC could play a vital role in the future monetary system. Former BitMEX CEO Arthur Hayes added his forecast, predicting that a combination of ongoing money printing and growing institutional adoption could push Bitcoin’s price to $250,000 within the year.

The core message of the conference: Bitcoin is no longer merely seen as an alternative asset — it is increasingly viewed as a cornerstone of geopolitical and monetary strategy. The event underscored a broader shift in perception, from speculative enthusiasm to structural integration of digital assets on public and private balance sheets.

SEC clears path for Ethereum Staking ETFs

The U.S. Securities and Exchange Commission has removed a key regulatory hurdle that had long obstructed institutional access to Ethereum. The regulator decided that staking activities within certain ETF structures no longer fall under securities law. This pivotal shift opens the door for Ethereum ETFs to include staked ETH in the future — making the network’s full yield potential accessible to institutional investors.

This marks a clear break from the policy stance of former SEC Chair Gary Gensler and fits into a broader trend of constructive regulation in the crypto space. Markets responded positively, with Ethereum ETFs seeing immediate inflows. While these flows still lag behind their Bitcoin counterparts, the trend is upward — offering Ethereum a stronger institutional outlook moving forward.

Robinhood acquires Bitstamp, enters European crypto market

Robinhood, known for its mobile investing platform, has acquired Bitstamp for $200 million. Founded in 2011, Bitstamp is one of Europe’s oldest and most reputable crypto exchanges. The acquisition grants Robinhood access to European licenses, institutional infrastructure, and a loyal customer base.

This is a strategic move for Robinhood, signaling its commitment to international expansion and a more mature crypto offering. Bitstamp’s strong reputation in compliance and institutional services aligns well with Robinhood’s ambition to serve institutional clients and grow outside the U.S. The deal also reflects a broader consolidation trend in the crypto sector, where scale, regulation, and institutional access are becoming critical to long-term competitiveness.

Trump opens crypto access for U.S. pension funds

In a landmark policy shift, former President Trump has lifted restrictions on crypto investments in 401(k) pension plans, allowing digital assets like Bitcoin and Ethereum to become part of long-term retirement portfolios. The move reverses Biden-era guidelines, which had deemed crypto too risky for retirement savings.

For institutional investors, this represents a structural change: digital assets can now be formally integrated into strategies managing billions in pension capital. The announcement aligns with Trump’s broader pro-crypto stance, which was also prominently featured at the Bitcoin 2025 conference. The implications are significant: with formal access granted, a wave of institutional capital could flow into regulated crypto products — reinforcing crypto’s role as a recognized asset class within traditional finance.

In other digital assets news

• Circle reaches a share price of $31 at the time of its IPO, valuing the company at $6.9 billion.
• The SEC drops its investigation and charges against Binance, bringing another long-running case to an end.
• ‘Crypto gambler’ James Wynn was liquidated multiple times this week on his leveraged positions, losing tens of millions.
   

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