Strategy Sells $2.5M in STRD Shares After Buying 705 BTC and Posting 16.9% YTD Bitcoin Yield + Robinhood Acquires Bitstamp

Consensys Leads $425M Investment to Back SharpLink’s Ethereum Treasury Strategy

Consensys, the company behind MetaMask, led a $425 million private placement for SharpLink Gaming, enabling the Nasdaq-listed firm to build what it aims to be the largest Ethereum treasury on the public market. The funding will allow SharpLink to acquire ETH as its primary reserve asset and engage in Ethereum-based activities like staking and DeFi. The move aligns with a growing trend among public companies expanding into crypto treasuries under a more favorable U.S. regulatory climate. Consensys CEO and Ethereum co-founder Joseph Lubin will join SharpLink’s board as chairman. Other backers include ParaFi, Galaxy Digital, Pantera Capital, and Electric Capital. Despite the announcement, SharpLink’s stock dropped over 34% to $50.13.

SEC Questions Legality of Proposed Ethereum and Solana ETFs Due to Staking Structure

The U.S. SEC has raised legal concerns over two proposed ETFs tied to Ethereum and Solana from REX Shares and Osprey Funds, warning they may not qualify as investment companies under the Investment Company Act of 1940. These ETFs include staking components, which complicates their classification. While their registration became effective on May 30, they have not yet launched or been listed. The SEC also flagged potential issues with the funds’ filing under Form N-1A and compliance with Rule 6c-11. This comes as the SEC separately clarified that many forms of crypto staking—such as self-staking—do not count as securities offerings, signaling a softer stance that drew internal dissent.

Robinhood Acquires Bitstamp to Launch Global and Institutional Crypto Expansion

Robinhood has completed its acquisition of Bitstamp, one of the longest-running and most trusted global crypto exchanges. This move marks a major expansion for Robinhood Crypto, introducing institutional services and a global footprint spanning the EU, UK, US, and Asia. Bitstamp brings over 50 active licenses and a strong reputation for regulatory compliance, deep liquidity, and reliable infrastructure. With this acquisition, Robinhood enters the institutional crypto space and accelerates its international growth strategy, while both companies maintain their commitment to security, transparency, and user experience.

Strategy Selling $2.5M in Preferred Shares to Buy More Bitcoin After Adding 705 BTC and Posting 16.9% YTD Yield

Strategy is selling 2.5 million shares of its new 10% perpetual preferred stock, Stride (STRD), to fund additional Bitcoin purchases and general operations. This comes after the company acquired 705 BTC for $75.1 million at an average price of $106,495 per coin. Year-to-date, Strategy has posted a 16.9% Bitcoin yield. As of June 1, 2025, it holds 580,955 BTC, bought for $40.68 billion at an average of $70,023 per BTC. The offering adds to its previous preferred share launches—STRK and STRF—and is part of a broader strategy to expand its Bitcoin treasury. $MSTR $STRK $STRF

Resources:

Bitstamp

The Block

sec.gov

Strategy