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Elon Musk's SpaceX Held 18,712 Bitcoin at Fair Value of $1.29 Billion at End of Q1, IPO Filing Shows
SpaceX has filed its S-1 with the Securities and Exchange Commission, confirming plans for an initial public offering expected next month that could be the largest in history.
The company is reportedly seeking a valuation of more than $1.5 trillion, which would place it among the 10 most valuable publicly traded firms globally and further boost Elon Musk’s net worth.
SpaceX’s filing highlights its dominant positions in reusable rocket launches and Starlink satellite internet, as well as its sizable bitcoin holdings of 18,712 BTC with a fair value of $1.29 billion, as of March 31.
Tether Buys Out SoftBank Stake in Bitcoin Treasury Firm
Tether has bought out SoftBank’s ownership in the digital-asset treasury companyTwenty One Capital, adding to its control over the Bitcoin accumulator as it seeks to merge the firm with two other businesses.
Tether didn’t disclose how much it had paid for the stake, according to an announcement by the stablecoin company on Wednesday. SoftBank owned approximately 26% of Twenty One’s publicly-listed shares, data compiled by Bloomberg shows, which was worth some $679 million.
Tether owned around 45% of the firm prior to the acquisition. An affiliate, iFinex Inc., also owned around 17% of the business. Twenty One shares rose 2.2%.
Crypto Custody Firm Copper Is Looking to Sell the Company for $500 Million
Cryptocurrency custody firm Copper has been out shopping itself, seeking a buyer willing to pay about $500 million for the platform, according to two people familiar with the matter.
Wall Street investment bank Cantor Fitzgerald has been appointed to help sell Copper, the people said.
The jewel in Copper’s crown is the ClearLoop settlement system, which enables network participants to do delivery versus payment (DvP) from within custody without bringing assets onchain, thereby eliminating settlement risk.
Bitcoin & Ethereum Spot ETF Flow
The overall net outflow of the US Bitcoin spot ETF on Wednesday was $70.47 million. The total net asset value of Bitcoin spot ETFs is $101.12 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.49%.
The Bitcoin spot ETF with the highest net outflow on May 20 was iShares Bitcoin Trust (IBIT), with a net outflow of $61.45 million, according to SoSoValue.
Source: SoSoValue
The overall net outflow of the US Ethereum spot ETF on Wednesday was $28.14 million. The total net asset value of Ethereum spot ETFs is $12.24 billion, and the ETF net asset ratio (market value compared to total Ethereum market value) is 4.75%.
The Ethereum spot ETF with the highest net outflow on May 20 was iShares Ethereum Trust ETF (ETHA), with a net outflow of $30.94 million, according to SoSoValue.
Source: SoSoValue
