🚨 Bitcoin Price Prediction Ahead of FOMC Minutes

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🆕 Bitwise Expands U.S. Market with 11 New Crypto ETFs on NYSE Arca

📈 Bitwise, an asset management firm, is set to list 11 single-asset cryptocurrency strategy ETFs on NYSE Arca, enhancing U.S. market access to major protocol tokens. This move follows recent regulatory filings indicating a broader shift towards diversified digital-asset products.

📝 On December 30, Bitwise submitted a post-effective amendment to the U.S. Securities and Exchange Commission (SEC) to register these ETFs, which are linked to individual protocol tokens such as AAVE, UNI, TRX, and ZEC. Each fund aims for capital appreciation through exposure to a specific digital asset rather than traditional securities.

Each fund intends to invest at least 80% of net assets plus borrowings in instruments providing exposure to its respective token,

the prospectus states,

with direct holdings generally capped at 60%.

🔍 The filing also mentions that the funds may use wholly owned Cayman Islands subsidiaries to hold digital assets while maintaining regulated investment company status. It addresses various risks including digital asset volatility, custody and cybersecurity threats, and liquidity constraints.

💡 Bitwise notes that fund performance may not exactly mirror the spot price of the underlying cryptocurrency due to fees and structural features. The shares of each fund are expected to list and primarily trade on NYSE Arca, with large block creations and redemptions managed through authorized participants.

🚀 Coinbase Ventures' Vision for Crypto Growth in 2026

🌟 As 2025 comes to a close, Coinbase Ventures has outlined its vision for the future of cryptocurrency in its end-of-year report. The firm identifies key sectors that it believes will drive crypto's growth in 2026, including real-world asset (RWA) trading, next-generation decentralized finance (DeFi), advanced market structures, and the integration of artificial intelligence (AI) with blockchain technology.

RWA perpetuals offer faster and more flexible exposure by using synthetic markets that don’t require custody of underlying assets,

Coinbase Ventures explains. This approach could open up on-chain markets linked to various assets, appealing to traders seeking sophisticated hedging methods.

🔄 The report also highlights rapid innovations in exchange design. Specialized exchanges and trading terminals are emerging to fill gaps in current on-chain markets. For instance, prop-style automated market makers (AMMs) are being developed to better protect liquidity providers.

📈 In the realm of DeFi, there is a shift towards capital efficiency and maturity. Perpetual futures are becoming essential components, integrated with lending protocols to allow traders to earn yield while maintaining leverage. Unsecured, credit-based lending presents another significant opportunity. Coinbase Ventures notes the potential to bring parts of the trillion-dollar unsecured credit market on-chain using new reputation and risk models.

Privacy-preserving infrastructure is seen as essential for both institutional participation and everyday users,

the report states.

🤖 Beyond finance, Coinbase Ventures emphasizes the importance of AI and robotics. The firm points to decentralized methods for collecting high-quality robotics training data, systems to distinguish humans from AI agents, and AI-driven tools that could simplify the process of building and securing smart contracts.

🌐 Overall, Coinbase Ventures envisions 2026 as a year of maturation for crypto infrastructure. The sector is expected to move beyond experimentation towards becoming more specialized and integrated with global markets and emerging technologies.

💥 Bitcoin's Volatile Correction: A 'Dead Cat Bounce' or Resilience?

📉 On January 6, Bitcoin experienced a sharp correction after briefly surpassing $94,000. The cryptocurrency quickly fell to $91,500, erasing over 2% of its value and triggering $96.5 million in long liquidations. This decline also impacted the broader crypto market, which saw its total market cap drop by $70 billion.

After peaking at approximately $94,800 on Monday, bitcoin shed more than 2% of its value.

🔍 Analysts expressed skepticism about the recent rally, suggesting it may have been a "dead cat bounce" rather than a genuine breakout. The total crypto market capitalization fell from an intraday peak of $3.3 trillion to $3.23 trillion by early afternoon.

💔 The situation was particularly challenging for leveraged traders, with a Coinglass report indicating that the sudden price drop led to the forced liquidation of $96.5 million in long positions. This wave of liquidations likely contributed to the further decline in Bitcoin's price.

📈 However, some experts argue against the "dead cat bounce" narrative. They point to the significant inflow of over $1.1 billion into spot Bitcoin exchange-traded funds (ETFs) in the first two business days of 2026 as evidence of institutional support rather than short-term speculation.

The Spent Output Profit Ratio is sitting right around 1.0, which tells us coins are changing hands at roughly break-even. Nobody’s panic selling at a loss

📌 Analysts suggest that breaking the $95,000 level could set the stage for a run towards $100,000. They emphasize the importance of looking beyond short-term price fluctuations to assess the overall health of the crypto system.

What matters more is whether the system itself is holding up: liquidity is available when it’s needed, settlements continue without friction, and capital can move efficiently even when sentiment is weak

💬 As of 4 p.m. Eastern time on January 6, Bitcoin's price stood at $92,475 following the dip. While the recent correction has raised concerns, institutional demand and accumulation metrics suggest a potential for recovery and growth in the near future.

🌍 Tether and UNODC Join Forces to Combat Cryptocurrency Crime in Africa

📈 On January 9, Tether announced a strategic partnership with the United Nations Office on Drugs and Crime (UNODC) to address illicit cryptocurrency activities and enhance digital resilience in Africa. This collaboration comes as Africa experiences rapid growth in digital assets but also faces increasing risks from scams and organized crime.

📈 Africa is now the third-fastest-growing crypto region, yet it suffers from weak regulatory frameworks and limited cybersecurity. An Interpol operation revealed $260 million in illicit crypto and fiat transactions across the continent, underscoring the need for stronger protections.

🌐 The partnership aligns with UNODC’s Strategic Vision for Africa 2030, which seeks to promote peace and inclusive growth. By utilizing blockchain and emerging technologies, the initiative aims to reduce cybercrime vulnerabilities, expand financial opportunities, and support human trafficking victims.

⚠️ Key components of the collaboration include the Senegal Project, which offers cybersecurity education for youth through bootcamps and mentorship, and the Africa Project, which funds civil society organizations in several African countries to assist human trafficking victims. Additionally, the Papua New Guinea Project raises awareness about financial inclusion and fraud prevention through university partnerships and student competitions.

💬 Tether CEO Paolo Ardoino emphasized the importance of coordinated action in tackling human trafficking:

Tackling human trafficking and preventing exploitation requires coordinated action across sectors.

He noted that the partnership combines innovation and education to empower communities.

🚀 The Future of Crypto: Balancing Trading and Regulatory Clarity

💡 A recent discussion led by a16z leaders highlights the critical factors that will shape the future of cryptocurrency businesses. Arianna Simpson, a general partner at a16z crypto, and Miles Jennings, the firm's crypto policy general counsel, emphasized the importance of durable products and clear regulatory frameworks in determining which blockchain companies will thrive.

📉 Simpson pointed out a troubling trend among crypto startups: many are shifting their focus towards trading as their main business model. This shift is often driven by short-term revenue pressures and the allure of quick product-market fit. However, she warned that when too many companies adopt this trading-heavy approach, it leads to increased competition, diminished differentiation, and weakened long-term viability. She stated,

There’s nothing wrong with trading — it’s an important market function — but it doesn’t have to be the final destination.

⏳ Simpson likened the situation to a marshmallow test, where the temptation for immediate rewards can undermine long-term success. She acknowledged the financial pressures many teams face but stressed that premature pivots can carry hidden costs. She concluded that patience in developing core offerings is crucial, stating,

The founders who focus on the ‘product’ part of product-market fit may end up the bigger winners.

⚠️ Jennings addressed the impact of regulation on blockchain development in the U.S. He described how ongoing legal uncertainty has skewed incentives within the industry, forcing founders to prioritize risk mitigation over product strategy. This has led to designs that prioritize compliance rather than functionality. He explained,

Crypto market structure regulation — which the government is closer to passing this year than it’s ever been — has the potential to eliminate all of these distortions.

🌐 Korea University Joins Injective as a Validator Partner

📈 Korea University’s Blockchain Research Institute has officially partnered with Injective, a layer 1 blockchain, becoming a validator within its global ecosystem. This collaboration aims to strengthen the connection between academic research and blockchain infrastructure.

⚠️ The institute, part of Korea University’s College of Informatics, has been at the forefront of blockchain and digital asset research since 2020. It has engaged in joint projects and educational programs that explore blockchain applications in finance and public services. This new partnership builds on that foundation, emphasizing the institute’s commitment to applied research and international collaboration.

“This partnership allows us to expand beyond theory-driven research and focus on practical studies that can be applied to real-world industry and regulatory environments,”

said Professor Inho Lee, director of the Blockchain Research Institute. He added that the goal is to advance research on digital assets and real-world asset (RWA) structures that are suitable for the Korean market.

🔗 Under the agreement, Korea University will assist in supporting network operations, ecosystem growth, and global expansion for Injective. The partnership also paves the way for joint studies on RWA tokenization and on-chain financial structures in Korea, taking into account regulatory frameworks and market conditions.

🔒 Currently, the institution is leading a government-funded project focused on enhancing the security and reliability of smart contracts throughout their lifecycle. This project is being conducted through the Institute of Information and Communications Technology Planning and Evaluation under the Ministry of Science and ICT.

🌍 Trump's Tariffs Trigger Global Market Turmoil

⚠️ U.S. President Donald Trump’s unexpected decision to impose a 10% tariff on eight European nations opposing his Greenland takeover threat sent shockwaves through global financial markets on January 19. This move raised fears of a renewed transatlantic trade war, prompting investors to seek refuge in safe-haven assets like gold and silver, which reached all-time highs.

📉 Asian markets were the first to feel the impact. The Nikkei 225 in Tokyo dropped over 540 points (1.4%) as investors pulled back from export-heavy sectors. Hong Kong’s Hang Seng fell by 0.8%, while mainland China’s Shanghai Composite Index managed to recover slightly after better-than-expected GDP figures for the fourth quarter.

📈 In contrast, South Korea’s KOSPI surged by 1.32%, driven by strong performances from semiconductor giants Samsung and Micron. European markets, however, faced significant declines. France’s CAC 40 fell by 1.2%, and Germany’s DAX slipped by 0.9%, with carmakers like Volkswagen and BMW experiencing losses between 2.5% and 4% due to tariff concerns.

💻 The turbulence also affected digital assets, with Bitcoin dropping to $92,000 and the broader crypto market declining by 2.5%. Trump’s tariffs specifically targeted France, the UK, the Netherlands, Denmark, Germany, Sweden, Norway, and Finland in response to their opposition to his Greenland plans. He warned that tariffs could escalate to 25% unless Europe complied but hinted at possible negotiations with Denmark.

💪 Europe has signaled its intention to resist. Reports indicate that EU leaders are preparing a multibillion-dollar retaliatory tariff package and considering the use of the Anti-Coercion Instrument (ACI), which allows for tariffs and other measures against economic coercion by foreign powers. As leaders prepare for the World Economic Forum in Davos, Switzerland, tensions are rising and the days leading up to the summit are expected to be marked by escalating rhetoric and strategic maneuvering.

📈 The Shift in Bitcoin's Whale Landscape: New Players Take Control

🔄 Recent on-chain data reveals a significant shift in Bitcoin's market dynamics: new whales—large-scale investors who have entered the market in the past five months—now hold a greater share of Bitcoin's realized cap than the long-term "OG" whales. This change indicates that the direction of the market is increasingly influenced by these newcomers, rather than the seasoned investors who have weathered multiple market cycles.

📊 According to Cryptoquant, the realized cap—which measures the total cost basis of all Bitcoin based on when it last moved—shows that a substantial volume of BTC has recently been traded at premium prices. New whales, defined as entities holding more than 1,000 BTC with coins younger than 155 days, now represent the dominant force in the market's capital structure. However, this dominance comes with a caveat: while OG whales have an average cost basis of around $40,000, these new entrants have a much higher average cost basis of approximately $98,000.

📉 The Cryptoquant report highlights that this shift in whale dynamics is contributing to current market volatility. The realized price for these new whales is about $98,000, and with the spot price trading below this level, they are facing nearly $6 billion in unrealized losses. Unlike the OG whales who are accustomed to Bitcoin's volatility, these newer investors are showing signs of weak hands. The report indicates that new whales have been the primary source of realized losses since the recent market peak, opting to use short-lived price rebounds to exit positions rather than holding through the dip.

⚖️ This behavior creates a distribution regime that stalls upward momentum in the market. The disparity between the two classes of whales is stark: while new whales are scrambling to mitigate losses, the old guard remains largely unfazed. The report asserts that the marginal supply of Bitcoin—the BTC most likely to be traded at any given moment—is now firmly in the hands of the most emotionally and financially exposed group in the ecosystem.

📈 Nifty Gateway Announces Closure and Transition to Withdrawal-Only Mode

📌 The non-fungible token (NFT) marketplace Nifty Gateway has announced its impending closure on February 23, 2026, and has immediately transitioned to a withdrawal-only mode. Customers holding USD, ETH balances, or NFTs are urged to follow the instructions sent via email to transfer their assets off the platform.

🔍 This decision allows Gemini, the parent company of Nifty Gateway, to refocus its efforts on creating a comprehensive super app for its customers. Support for NFTs will continue through the Gemini Wallet, which was launched in August 2025.

🙏 The company expresses gratitude to its artists and customers for their support and contributions. It advises users to reach out to support for any assistance needed during this transition. Users are reminded to complete their withdrawals before the closing date and to adhere to any jurisdictional rules regarding custody and transfers.

🚨 12 Best DEXs for Perpetual Futures Trading in January 2026

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📌 Ripple's Legal Victory: XRP Gains Clarity Amid Court Ruling

⚖️ XRP is experiencing renewed strength as a federal appeals court ruling clarifies legal uncertainties surrounding its early distributions. The U.S. Court of Appeals for the Ninth Circuit recently addressed investor claims related to XRP transactions, reinforcing the legal standing of early token distributions.

⚠️ The appeal was initiated by Bradley Sostack, who represented himself and other investors after purchasing XRP in January 2018. Sostack alleged that Ripple Labs Inc. and its CEO Brad Garlinghouse violated the Securities Act of 1933 by selling unregistered securities. This class action dates back to 2018 and saw Sostack appointed as lead plaintiff in 2019.

🔍 The Ninth Circuit examined whether Sostack's federal claims were filed within the three-year statute of repose. The court concluded that

His federal securities claims are time-barred, and the district court did not err in granting summary judgment in favor of Defendants-Appellees.

It emphasized that the statute of repose serves to provide certainty by preventing claims from being revived based on later conduct or market changes.

✔️ The memorandum detailed the factual and legal reasons for rejecting Sostack's arguments. It noted that the XRP Ledger was publicly launched around 2012 and that Ripple conducted substantial sales of XRP through this ledger, which were deemed bona fide public offerings under securities law.

👀 $30M Stolen as Step Finance Treasury Wallets Compromised

⚡️ Step Finance confirmed a $30 million breach of treasury wallets containing 261,854 SOL tokens, triggering a 90% crash in the platform's native token. Step Finance, a major Solana DeFi platform, confirmed multiple treasury and fee wallets were compromised by a sophisticated attacker during Asian Pacific trading hours, resulting in the theft of approximately 261,854 SOL tokens worth roughly $30 million.

🛍 The breach sent shockwaves through the Solana ecosystem as blockchain security firm CertiK flagged that the stolen SOL “has been withdrawn after stake authorization had been transferred” to an unknown wallet address. The incident triggered immediate market panic, with the platform’s native STEP token plummeting over 90% within 24 hours.

🔼 While the team insists user funds remained unaffected, questions swirl over whether the breach represents a genuine security failure or a disguised exit scam, particularly given that the attacker appeared to have direct wallet access rather than exploiting smart contract vulnerabilities.

🔔 Step Finance disclosed the security breach through a series of urgent social media posts, stating “several of our treasury and fee wallets were compromised by a sophisticated actor” and confirming the attack leveraged “a well known attack vector.“ The platform immediately activated emergency protocols and reached out to cybersecurity firms for assistance.

🔗 Solana media firm Solana Floor reported that on-chain data showed the stolen 261,854 SOL was “unstaked and moved during the incident,” suggesting the attacker had obtained authorization to control staking operations.

⚡️ TRM Labs Hits $1B Valuation After $70M Series C Led by Blockchain Capital

❗️ Analytics firm TRM Labs reached a $1 billion valuation following the close of a $70 million Series C funding round led by Blockchain Capital. The round was backed by a mix of returning and new strategic investors, including Goldman Sachs, Bessemer Venture Partners, Brevan Howard Digital, Thoma Bravo, Citi Ventures, Galaxy Ventures, and DRW Venture Capital. Blockchain Capital, which also led TRM’s pre-seed round in 2018, returned as the lead investor.

⁉️ The San Francisco-based firm provides blockchain intelligence software used to trace illicit crypto activity and support compliance operations across both the public and private sectors. Its customer base includes law enforcement and national security agencies in more than 50 countries, alongside private-sector clients such as Circle, Coinbase, PayPal, Visa, Stripe, Robinhood, and Cross River Bank. Ari Redbord, TRM’s global head of policy, confirmed the funding round to CryptoNews.

✔️ TRM said the new capital will support its mission to equip institutions with AI solutions designed to combat ransomware groups, terrorist financing networks, transnational criminal organizations, and scam operators increasingly leveraging automation and artificial intelligence. “As an increasing amount of global economic activity moves on-chain, the need for solutions that can scale an effective response to these threats has never been greater,” TRM said in a statement.

📈 TRM Labs said the Series C proceeds will accelerate investment across three core areas: expanding its talent base, advancing AI compliance tools, and strengthening AI-powered investigative capabilities. The company is focusing on improving financial crime risk management, including faster alert processing, more efficient exposure assessments, and stronger linkages between on-chain and off-chain criminal activity.

❓ “AI is one of the most important technologies of our generation, and where it’s applied matters,” said Esteban Castaño, co-founder and CEO of TRM Labs. “At TRM, we’re building AI for problems that have real consequences for public safety, financial integrity, and national security.” Mathew McDermott, global head of digital assets at Goldman Sachs, added that TRM provides “foundational infrastructure that enables institutions to operate distributed ledger technologies safely and efficiently.”

🔔 TRM’s valuation reflects broader momentum in the blockchain analytics sector, as governments and regulated financial firms increase oversight of digital asset markets. The firm’s leadership includes Ari Redbord, TRM’s global head of policy, who previously served as a senior advisor at the U.S. Treasury and as an Assistant U.S. Attorney in Washington, D.C., working on terrorism finance

📌 XRP Plunges 17% in Steepest One-Day Drop Since 2025 as $46M in Leveraged Longs Get Wiped

❗️ The XRP price dropped more than 17% over the past 24 hours to around $1.25, making it the worst-performing major token on the day. Bitcoin fell roughly 10% toward $65,000 during the same period, while Ethereum slid below $2,000 and Solana traded near $82, as the selloff widened across the entire crypto market. The move extended XRP’s weekly losses to nearly 30% and pushed its market cap down to approximately $75 billion, a steep fall from its July 2025 peak of $210 billion. XRP is now trading 45% below its January 2026 high of $2.41. This decline has been further fueled by deteriorating broader market conditions.

⚠️ Data from CoinGlass showed roughly $46 million in XRP derivatives liquidations over 24 hours, with bullish bets accounting for about $43 million of that figure. Prices bled slowly through most of Thursday before a sharp drop late in the session triggered a cascade of stop-loss orders and forced closings. The break below the $1.44 support zone flipped that area into overhead resistance, leaving $1.00 as the next widely watched psychological level.

📊 Across the broader market, traders saw approximately $1.42 billion in total crypto liquidations on Thursday, with long positions accounting for $1.24 billion. Despite the steep decline, institutional flows into XRP exchange-traded funds have remained positive. Since launching in November 2025, XRP spot ETFs have posted inflows on all but four trading days, according to SoSoValue data. Looking at this week’s performance, inflows totaled roughly $24 million, bringing cumulative net inflows past $1.2 billion.

➡️ That resilience stands in sharp contrast to Bitcoin ETFs, which recorded approximately $545 million in outflows on Wednesday alone. The selloff came during an otherwise active stretch for Ripple. Earlier this week, Ripple announced it had received full approval of an Electronic Money Institution license from Luxembourg’s Commission de Surveillance du Secteur Financier, enabling it to scale regulated payment services across the EU.

💥 The Luxembourg approval followed a separate EMI license from the UK’s Financial Conduct Authority in January, bringing Ripple’s global license count past 75. None of these developments cushioned XRP against the broader risk-off move. This price development underscores that the token’s valuation remains driven primarily by positioning and momentum rather than adoption narratives.

🌐 New ChatGPT Predicts the Price of XRP, Ethereum and Pi Coin By the End of 2026

📈 ChatGPT draws on large-scale datasets and market patterns to generate forward-looking crypto analysis, and when prompted with a well-defined framework, the AI predicts head-turning 2026 price outlooks for XRP, Ethereum, and Pi Network.

➡️ According to ChatGPT’s assessment, a prolonged crypto bull market paired with more transparent and supportive regulation in the United States could accelerate price discovery for major digital assets, pushing them to new record highs sooner than many investors expect.

🔔 Below is ChatGPT’s projected trajectory for the three leading altcoins over the next eleven months. Last July, it notched its first new all-time high (ATH) in seven years, surging to $3.65 after Ripple achieved a decisive courtroom victory against the U.S. Securities and Exchange Commission.

➡️ That ruling lifted a major regulatory overhang and helped ease broader market fears that the SEC planned to treat altcoins as unregistered securities. From a technical perspective, XRP’s Relative Strength Index (RSI) is hovering near 27, placing it firmly in oversold territory. The fact that it’s uptrending again suggests that selling pressure may be losing steam, setting the stage for investors to buy back in over the weekend at a relative discount.

📣 As XRP’s price gradually realigns with its 30-day moving average, positive industry or macro developments could spark a sudden surge in the weeks or months ahead.

⚠️ When combined with anticipated ETF inflows from the newly launched US spot XRP ETFs and anticipation for the U.S. CLARITY bill, a proposed comprehensive crypto regulatory framework, ChatGPT’s ambitious price target appears increasingly plausible.

🎉 Sony Innovation Fund Invests in Yoake's Blockchain Fandom Infrastructure

💰 The Sony Innovation Fund (SIF) has made a significant move by leading a $3.2 million funding round for Yoake entertainment. This investment marks a strategic partnership aimed at developing the Record Protocol’s blockchain-based fandom infrastructure. The collaboration with Sony Block Solutions Labs is set to enhance verified fandom technology across various entertainment sectors, including music, film, gaming, and anime.

🔗 The partnership introduces an innovative approach to fan engagement by utilizing blockchain technology to create verifiable on-chain records of fan contributions. This infrastructure is designed to reward genuine fan participation, thereby establishing a new paradigm of interaction that transcends traditional monetization models. Initial successes have been seen through the Idol Runway Collection app and collaborations with well-known Japanese idol groups.

🌍 The development of this blockchain fandom infrastructure is primarily focused on the Japanese entertainment market, with plans for global expansion leveraging Sony’s international networks. What sets this model apart from previous fan engagement strategies is its emphasis on verifying authentic fan passion rather than relying on speculative "X to Earn" models.

🎯 The targeted entertainment sectors include music, film, gaming, and anime, with a particular focus on the idol entertainment sector where initial successes have been recorded. Fan contributions will be measured through on-chain verification using generative AI and blockchain technology to track and validate participation and support.

💰 Stablecoin Rewards: A Threat to Banking or a Misunderstood Shift?

🗣 Stephen Gandel argues that concerns over stablecoin rewards jeopardizing the banking system are overstated. He acknowledges potential impacts on equity returns for banks but emphasizes that deposits cannot be entirely withdrawn from the system.

📉 Banks, including Bank of America's CEO Brian Moynihan, warn of a possible $6 trillion deposit loss as customers turn to stablecoins for higher yields. However, Gandel refutes this, stating,

Cash that goes to a stablecoin doesn’t simply disappear – it goes into the reserve assets like Treasury bills or bank accounts.

This indicates that funds are merely reallocated rather than removed.

💸 While individual banks may need to offer higher interest rates to retain deposits, Gandel suggests that many can still operate profitably even with a 1% rate increase. He notes,

The banking sector survived the advent of money market funds... And savers are much better off for it. The same may be true if stablecoins take off.

⚖️ The CLARITY Act addresses these concerns but has faced delays due to disagreements between banks and the cryptocurrency industry over stablecoin rewards and loopholes.

💰 Abu Dhabi Funds Boost Bitcoin ETF Holdings Despite Market Decline

📉 Abu Dhabi-backed funds, including Mubadala Investment Company and Al Warda Investments, increased their positions in Blackrock’s spot bitcoin exchange-traded fund (ETF), Ishares Bitcoin Trust (IBIT), at the end of 2025. They collectively held nearly 21 million shares, valued at over $1 billion before bitcoin's recent decline reduced this value to approximately $803 million.

📊 Mubadala significantly expanded its holdings from 8.7 million shares in Q3 to about 12.7 million shares by year-end, while Al Warda increased its stake from 7.96 million to over 8.2 million shares. Despite this accumulation, the market has shifted, with IBIT falling 22.5% year-to-date due to a retreat in bitcoin prices.

🗓 Mubadala first added IBIT to its balance sheet in Q4 2024 with an exposure of at least $436 million. The latest filings indicate that their conviction in this investment remains strong despite market volatility. However, the broader U.S. spot bitcoin ETF market has faced challenges, losing more than $31 billion in assets this year.

🔍 For long-term investors like sovereign wealth funds, short-term price fluctuations may be less critical than strategic positioning. Nonetheless, the recent drawdown highlights the ongoing tension between institutional adoption of cryptocurrencies and their inherent volatility.