GameStop Adds 4,710 Bitcoin to Treasury After Q1 Revenue Miss
Blockchain adoption grows across Fortune 500 and SMBs, GameStop invests in Bitcoin, and Solana ETFs gain momentum as SEC signals openness to staking.
Because Bitcoin
June 10, 2025
Fortune 500 and SMBs Embrace Blockchain as Institutional Interest in Crypto Grows, Coinbase Report Finds
According to Coinbase’s latest State of Crypto report, nearly 60% of Fortune 500 executives say their companies are working on blockchain initiatives, with about 20% now viewing onchain strategies as core to their long-term plans—a 47% year-over-year increase. Institutional adoption is also rising among small and medium-sized businesses (SMBs), with many using crypto to address financial inefficiencies like invoicing. Among non-users, 46% plan to integrate blockchain within three years. Meanwhile, over 80% of institutional investors intend to boost crypto exposure in 2025. The report underscores the industry’s call for regulatory clarity, highlighting pending U.S. legislation such as the GENIUS and CLARITY bills as pivotal for innovation.
GameStop Misses on Revenue but Beats EPS; Adds Bitcoin to Treasury as Collectibles Segment Grows
GameStop reported Q1 fiscal 2025 revenue of $732.4 million, missing analyst expectations of $754.24 million and marking a 17% year-over-year decline. However, adjusted earnings came in at 17 cents per share, outperforming the expected 4 cents. Among business segments, only collectibles saw year-over-year growth, generating $211.5 million. The company ended the quarter with $6.4 billion in cash and equivalents and disclosed the purchase of 4,710 Bitcoin post-quarter as part of a new treasury strategy. GameStop again opted not to hold an earnings call, continuing its recent practice. Shares fell over 5% in after-hours trading.
Solana ETFs Edge Closer to Approval as SEC Requests Updates on Staking and Redemption Terms
The U.S. SEC has asked Solana ETF issuers to amend their S-1 filings within a week, focusing on language related to in-kind redemptions and staking, signaling potential openness to allowing staking within the ETF structure. Bloomberg’s James Seyffart estimates approvals could come as soon as July, though the final SEC deadlines stretch into October. Grayscale, VanEck, Fidelity, and others are competing to launch Solana ETFs, with Grayscale aiming to convert its existing SOL Trust. Recent moves, including CME’s launch of SOL futures and increasing optimism from analysts, have boosted expectations of approval, with Bloomberg raising the odds of a SOL ETF approval to 90%.
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