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Wall Street Investment Bank Cantor Fitzgerald to Launch Gold-Backed Bitcoin Fund

2025.05.30 09:24:21

On May 30th, as reported by CoinDesk, the Wall Street investment bank Cantor Fitzgerald announced that it will establish a gold-hedged Bitcoin fund, which marks the institution's first Bitcoin-themed investment product. This fund is planned to operate for five years. Its purpose is to maintain Bitcoin's price upside potential while offering a 1:1 downside protection through a gold pegged mechanism. Brandon Lutnick, the chairman of Cantor Fitzgerald, stated at the Bitcoin 2025 conference that this product is designed to attract traditional investors who are cautious about Bitcoin and encourage them to enter the crypto ecosystem. Previously, the institution has been involved in Bitcoin lending business, and its initial partners include the crypto lending platform Maple and the brokerage firm FalconX.
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Last week, Strategy added 334 Bitcoin to its holdings at an average price of $85,839, and repurchased $176 million worth of STRC.

According to official sources, Strategy last week purchased 334 BTC at an average price of $85,839 for a total of $28.7 million, bringing its total Bitcoin holdings to 848,000 coins, valued at $63.97 billion on a cost basis. The company repurchased $176 million worth of STRC, sold 92,894 shares of MSTR stock, and raised $15.7 million to finance the Bitcoin acquisition. Strategy projects its third-quarter digital asset revenue will reach $20.91 billion. As of September 30, the book value of its Bitcoin holdings stood at $70.82 billion.

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Strive spent an additional $169 million to acquire 2,000 Bitcoin last week, bringing its total Bitcoin position to 29,462.

Strive CEO Matt Cole disclosed that the company purchased 2,000 Bitcoin (BTC) at an average price of $84,422 per token, with total spending of roughly $169 million, bringing its total BTC holdings to 29,462 coins. Sixty-one point five percent of the funds raised in this round originated from SATA, and the warrants generated an additional $56.7 million in proceeds.

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Bitget PoolX launches an ETH staking lock-up campaign, with current yield temporarily reported at 16.81% APR.

According to official announcements, Bitget PoolX has launched a new ETH staking campaign. Users can lock up ETH to participate in sharing a 200,000 USDT airdrop. As of press time, the ETH staking pool’s yield is temporarily reported at 16.81% APR. The staking channel will be open from October 5 to October 9.

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Global tech billionaires’ combined wealth has risen by $845 billion this year, hitting a new all-time high.

According to Bloomberg, as of September, around 100 tech billionaires worldwide have seen their combined wealth surge by $845 billion, hitting a new all-time high. The growth was primarily driven by the AI boom and surging US tech stocks. Their total combined wealth now stands at $4.6 trillion, while billionaires outside the tech sector lost $62 billion. Elon Musk alone added $310 billion to his fortune, accounting for roughly 40% of the total gain in the Bloomberg Billionaires Index.

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Tom Lee: Future inflation data is expected to cool, with the crypto bull market and stock market’s new highs already pricing in upcoming loose financial conditions.

Tom Lee told CNBC in an interview: "I think ahead of last week's jobs report, the market was pricing in the 'most hawkish Fed' scenario, expecting three interest rate hikes, including a 75% probability of a rate hike in October. But ultimately, the jobs report came in weaker. We will get the September inflation report in two weeks. In our view, we believe some one-off factors are fading, so I think inflation data will be soft over the next six months. This will not only allow the Fed to backtrack from its hawkish stance, but also push bond yields to truly normalize as inflation uncertainty begins to ease. Moreover, I see many signs: tech stocks hitting new highs and cryptocurrencies performing so well—this is impossible under tight monetary conditions. So I think they are pricing in looser financial conditions ahead of time."

1 minutes ago

Morgan Stanley reaffirms its Overweight rating on SpaceX, with a target price of $300.

Morgan Stanley reaffirmed an "overweight" rating on SpaceX, setting a target price of $300, and noted the stock looks "very cheap" when factoring in its growth prospects. Analyst Adam Jonas stated that on a growth-adjusted basis, SpaceX’s trading valuation is roughly 40% lower than that of large-cap AI peers. Potential catalysts include the upcoming Starship flight, third-quarter financial results, Grok launch, and additional Neocloud deals, with a successful Starship capture potentially being the biggest catalyst since SpaceX’s IPO.

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