1. MicroStrategy Posts $10B Profit on Bitcoin Holdings
MicroStrategy (Strategy Inc.) turned a net profit of $9.97 billion in Q2 2025—its first in six quarters—thanks to unrealized gains of approximately $14 billion on its bitcoin portfolio. Holding now 628,791 BTC (~3% of global supply), the firm raised $2.5 billion via preferred stock to further expand its holdings.
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2. SEC Launches “Project Crypto” for Digital Asset Oversight
Chairman Paul Atkins unveiled Project Crypto, a sweeping regulatory initiative aimed at clarifying crypto asset frameworks, streamlining altcoin ETF listings, and integrating DeFi into financial infrastructure. Key reforms include new definitions for securities, support for unified “super-app” providers, and exemptions for airdrops and treasury issuance.
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3. In-Kind ETF Redemptions Go Live for BTC & ETH
The SEC’s recent ruling now permits authorized institutions to perform in-kind creations/redemptions for Bitcoin and Ethereum spot ETFs, making them cost-efficient, tax-smart, and aligned with how traditional commodity ETFs operate. Bitwise became the first to implement the upgrade.
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4. Bitcoin Momentum Faces Seasonal Headwinds, May Drop Toward $112K
After nearing $120K, analysts at 10x Research warn Bitcoin could fall into its historical seasonal range—support levels between $106K–$112K—due to normal August weakness and a cooling of on-chain capital inflows.
