Aave, the largest decentralized lending protocol, has proposed reducing its exposure to governance risks within the Ethereum layer-2 network, Scroll’s ecosystem.

The initiative, submitted on Sept. 11 by the Aave Chan Initiative (ACI), comes amid mounting instability in Scroll’s decentralized governance model.

The proposal outlines several defensive measures to protect Aave’s users and liquidity pools. These include raising the reserve factor for all listed assets to 90%, lowering supply caps to existing levels, and cutting borrowing caps for all borrowable assets.

According to ACI, these steps will help contain exposure to Scroll-based assets, reinforce protocol safety through conservative risk parameters, and ensure Aave can respond swiftly if governance disruptions escalate.

ACI pointed out that the proposal’s implementation will proceed through the Direct to AIP process, which allows for faster deployment of urgent changes.

Data from DeFiLlama shows that Aave currently holds about $6 million in total value locked (TVL) on Scroll, making it the chain with one of its smallest liquidity pools.

Don’t Get Left Holding the Bag

Join The Crypto Investor Blueprint — 5 days of pro-level strategies to turbocharge your portfolio.

Brought to you by CryptoSlate

Nice Your first lesson is on the way.

Please add [email protected] to your email whitelist.

Scroll’s DAO issues

The urgency of Aave’s proposal stems from internal turmoil at Scroll’s decentralized autonomous organization (DAO). Scroll announced earlier in the day that it had halted new proposals within its DAO as part of a plan to redesign governance.

Scroll said the decision would allow experimentation with governance models emphasizing efficiency, effectiveness, and alignment. The team also stressed that the pause aims to safeguard stability in the short term while laying the groundwork for sustainable growth.

Meanwhile, Scroll stressed that proposals that have already been approved will proceed. However, fresh submissions will be paused until the new structure is introduced.

This move comes after leadership turbulence within the DAO. Olimpio, a Scroll delegate, confirmed that the DAO’s lead, known as Eugene, resigned earlier in the week.

According to Olimpio, this departure has left the community facing uncertainty, with several proposals now stalled. These include a treasury management initiative, the formation of a governance council, and a test of a DAO timelock mechanism.

Coinbase will launch Mag7 + Crypto Equity Index Futures to create the first US-listed futures product that combines traditional equities and crypto exposure, according to a Sept. 2 announcement.

The product will debut on Sept. 22, arriving less than two months after Coinbase began offering CFTC-regulated perpetuals to US customers in July.

The hybrid index tracks 10 equally weighted components: the seven largest US technology companies, known as the “Magnificent Seven,” Coinbase’s own stock, and BlackRock’s Bitcoin and Ethereum ETFs.

Each component represents 10% of the index, with quarterly rebalancing to maintain equal weightings.

The Magnificent Seven stocks include Apple, Microsoft, Alphabet, Amazon, NVIDIA, Meta, and Tesla. The cryptocurrency exposure is provided through the iShares Bitcoin Trust ETF (IBIT) and the iShares Ethereum Trust ETF (ETHA), offering indirect access to the two largest digital assets by market capitalization.

Product structure

Coinbase positions the product as addressing investor demand for dual exposure to traditional financial instruments and digital assets.

The company stated that no US-listed derivative previously offered access to both equities and cryptocurrencies within a futures product.

The monthly cash-settled contracts represent $1 multiplied by the index value. At an example index price of $3,000, each contract would carry a notional value of $3,000. MarketVector serves as the official index provider for calculation and maintenance.

The launch builds on Coinbase’s derivatives expansion following its July introduction of CFTC-regulated perpetual contracts for US customers.

Those products offer up to 10x leverage with 0.02% fees on major cryptocurrencies, including Bitcoin, Ethereum, and Solana.

Coinbase frames the equity index futures as marking “the next evolution of our product suite” and paving the way for multi-asset derivatives that broaden access and efficiency for investors.

The company promises to expand availability to retail users in the coming months after the initial launch through partner platforms.

Mentioned in this article

Brevan Howard became the largest institutional shareholder of BlackRock’s iShares Bitcoin Trust (IBIT) by increasing its holdings by 71% between the first and second quarters of 2025.

According to a filing with the US Securities and Exchange Commission (SEC) of its latest 13F form, the hedge fund now holds approximately 37.5 million IBIT shares valued at roughly $2.3 billion as of June 30, up from 21.9 million shares in the first quarter.

Additionally, Brevan Howard has a $25 million exposure to Bitcoin put calls through 400,000 shares of IBIT. The London-based firm’s dollar-denominated holdings grew from both the share increase and Bitcoin’s (BTC) price appreciation during the period. 

Bitcoin surged from its March closing of $82,511.47 to a June closing of $107,168.23. This price movement amplified the value of Brevan Howard’s expanded position. 

Brevan Howard previously ranked as the second-largest IBIT investor, trailing Goldman Sachs, which held over $1.4 billion worth of IBIT shares as of March. 

The accumulation in the second quarter vaulted Brevan Howard past Goldman Sachs to claim the top position among institutional holders.

The hedge fund also added exposure to BlackRock’s iShares Ethereum Trust (ETHA) during the last quarter.

Crypto dive

Brevan Howard formed BH Digital in September 2021 to provide digital asset exposure across investing and business operations in public and private markets. 

The dedicated crypto division has delivered strong performance, with BH Digital returning 34.5% in the first quarter of 2024 while managing around $1.7 billion in assets.

Brevan Howard raised more than $1 billion for its flagship crypto vehicle, representing the largest crypto hedge fund launch ever. 

The firm’s dual approach combines direct crypto investments through BH Digital with exchange-traded funds (ETFs) holdings in traditional portfolios.

IBIT has attracted substantial institutional interest since launching in January 2024, with over $91 billion in assets under management, according to Bold Report data.

Furthermore, Farside Investors’ data revealed that IBIT accumulated $58.5 billion in positive net flows since launch, dwarfing the second-largest spot Bitcoin ETF by nearly five times.

Brevan Howard’s Bitcoin ETF accumulation reflects broader institutional adoption of crypto through regulated investment products. 

The firm’s substantial IBIT position demonstrates how traditional asset managers are incorporating digital assets into institutional portfolios while maintaining operational efficiency through ETF structures.

Mentioned in this article

Harvard Management Co. (HMC) reported a position in BlackRock’s iShares Bitcoin Trust (IBIT) worth $116,666,260.

According to a Form 13F filed with the US Securities and Exchange Commission (SEC) on August 8, HMC had 1,906,000 shares of IBIT as of June 30.

Based on the values shown on the same page, the Bitcoin allocation represents roughly 8% of the filing’s reported portfolio worth over $1.4 billion, placing it in the same tier as several of Harvard’s largest US-listed holdings.

Notably, HMC now holds more Bitcoin than gold, as its shares of SPDR Gold Trust were priced at approximately $102 million at the end of the second quarter.

The portfolio snapshot is notably selective and concentrated in mega-cap names. Microsoft appears at about $310 million, Amazon near $235 million, Booking Holdings around $182 million, Meta roughly $120 million, Alphabet close to $114 million, and Nvidia about $104 million.

The filing offers the clearest on-the-record sign yet of Harvard’s progression from exploratory crypto exposure to a visible, sized allocation within its US-reportable assets. 

Harvard has reportedly engaged with digital assets over multiple years. The institution was among the early university investors allocating to crypto-focused venture funds in 2018.

Furthermore, a 2019 SEC filing for Blockstack’s qualified token sale documented purchases of Stacks (STX) tied to a fund whose limited partners included Harvard affiliates. Lastly, reports from 2021 2021 indicated Harvard had been buying crypto directly through exchange accounts. 

The IBIT stake formalizes that arc by placing spot Bitcoin exposure in the same table as Harvard’s blue-chip equities and gold.

Form 13F covers only specific US-listed securities and does not represent Harvard’s entire portfolio, but the composition is instructive. 

By adding IBIT at roughly 8% of reported holdings, Harvard has elevated Bitcoin to a core component of its public-markets book for this quarter.

Mentioned in this article

Why Sharplink is all-in on Ethereum

In X’s post, Sharplink Gaming shared an update that it secured a capital rise of $200 million through a direct offer of $19.50 per share, backed by four global institutional investors.

The company says the capital will be deployed strategically to expand the holdings of the ETH Ministry of Finance. Once fully deployed, Sharplink expects ETH reserves to exceed $2 billion, and is located in the Treasury Department, the most ethnic corporations in the world.

The company focuses on accumulating ETH, staking ETH to acquire sustainable on-chain yields and consistently growing stocks for long-term shareholders. Ethereum is becoming the foundational layer of the global finance infrastructure of tokenized assets, and Sharplink is being built to capture its upside down.

According to a post by Durty_Crypto, Vitalik Buterin recently pointed out that ETH’s Treasury Department is increasingly valuable, not just as an ETH store, but also as another way to make people accessible to ETH. Instead of simply purchasing and holding ETH, investors are turning to companies that own and manage ETH Ministry of Finance.

Durty_crypto outlined the invisible irony among the unbanked crew who quickly celebrated mainstream verification. Pulsechain’s sacrifice wallet has become the fifth largest ETH holder in the Crypto, with 171,054 ETH. Before the funds were turned to ETH, the wallet was already attracting attention as the largest DAI owner in all chains. Therefore, experts praised Richard Heart, the controversial figure behind Pulsechain, for performing a strategic pivot that he barely saw.

Ethereum activity gets hot as transaction volume approaches ATH

While notable figures raise capital and increase the value of the ETH Treasury, the coin also revealed that the momentum of the chain over Ethereum is surged once again. According to Etherscan data, the network processed 1.87 million transactions on August 6, bringing it to a record high of 1.96 million held in January 2024.

Validator Queue Data, on the other hand, shows that the ETH POS Exit queue has dropped significantly to 443,164 ETH, worth around $1.62 billion. After the decrease, the average exit wait time will be 7 days and 17 hours.

As reported by Coinw, Ethereum’s performance could experience significant growth once UK regulators officially lift the ban on Crypto Exchange Supervision Notes (CETN) for retail investors. The move illustrates a major policy change to adopt the digital asset market. Additionally, individuals may engage in financial instruments that take these risks at their discretion.

Jack Dorsey’s technology company Block joined the Standard & Poor’s 500 (S&P 500) index on Wednesday, marking the third public company with Bitcoin holdings to join the global benchmark.

Block holds 8,584 Bitcoin (BTC) worth approximately $1 billion, according to BitcoinTreasuries.NET. That stash makes Block the 13th-largest corporate holder of BTC.

The company’s shares on the NYSE exchange have jumped nearly 14% over the past five days since the company announced it would join the S&P 500.

The S&P 500 tracks 500 of the largest publicly listed US companies. Among the other index companies exposed to BTC are Tesla and Coinbase.

To be listed in the S&P 500, a company must have a market cap greater than $18 billion, a public float (a portion of the company’s outstanding shares that are available for trading) greater than 10%, and the most recent quarter’s earnings must be positive.

S&P 500 inclusions lead to more BTC exposure

The S&P 500 index accounted for $50 trillion in market capitalization as of the end of first quarter of 2025. By buying into an exchange-traded fund or other instrument that tracks the S&P 500, investors gain exposure to a wide variety of industries, including, now, crypto.

In a Wednesday X post, OnlyCalls wrote, “Institutional entrance solidifies BTC’s financial visibility. Expect more conservative entities to consider BTC as a viable treasury asset.”

Block is replacing Hess Corp, a US energy company that is dropping out after its $55 billion merger with energy conglomerate Chevron.

Related: Strategy launches Bitcoin stock pegged at $100 to increase treasury

Coinbase, Tesla stock performances

The other two companies with significant Bitcoin holdings that have landed in the S&P 500 are Coinbase and Tesla. Coinbase holds 9,267 BTC worth about $1.1 billion at time of publication. Tesla holds 11,509 BTC worth $1.4 billion.

Coinbase’s share price has risen 28.4% over the past month, according to Google Finance. That’s a steeper rise than the overall crypto market, which has jumped 23% in the past 30 days, according to CoinGecko.

Tesla’s share price has fallen 4.6% in the past month, though it may be linked less to the crypto market and more to its fundamentals and operations.

Magazine: Bitcoin OG Willy Woo has sold most of his Bitcoin — Here’s why 

]]> https://earlybirdsinvest.com/block-joins-sampp-500-bringing-more-bitcoin-exposure-to-equity-index/feed/ 0 49265 https://earlybirdsinvest.com/proshares-debuts-2x-leveraged-daily-exposure-to-solana-and-xrp-in-new-etfs/ https://earlybirdsinvest.com/proshares-debuts-2x-leveraged-daily-exposure-to-solana-and-xrp-in-new-etfs/#respond Tue, 15 Jul 2025 21:02:24 +0000 https://earlybirdsinvest.com/proshares-debuts-2x-leveraged-daily-exposure-to-solana-and-xrp-in-new-etfs/

ProShares launched two exchange-traded funds (ETFs) that seek to deliver 2x returns on the daily price movement of Solana (SOL) and XRP, adding leveraged exposure to the firm’s expanding roster of crypto-linked products, according to a July 15 announcement.

The ProShares Ultra Solana ETF (SLON) targets 200% of Solana’s daily performance, while the ProShares Ultra XRP ETF (UXRP) aims for the same leverage on XRP. 

Both funds track futures contracts rather than holding the underlying tokens, mirroring the structure ProShares uses for its Bitcoin and Ethereum offerings. 

CEO Michael Sapir said the new ETFs provide traders with a way to “overcome the challenges of acquiring leveraged exposure” to two blockchains that investors frequently cite for high-throughput payments and decentralized applications. 

He added that the broader adoption of Solana and XRP encouraged ProShares to extend its suite beyond Bitcoin (BTC) and Ethereum (ETH).

Broader leveraged crypto ETF line

Leveraged crypto ETFs require investors to manage their positions actively because the products reset exposure daily. Gains compound during strong single‑direction moves, but losses magnify just as quickly when prices reverse. 

ProShares warned in the prospectus that SLON and UXRP are suitable for experienced market participants who understand the mechanics of daily leverage and the potential for erosion in volatile markets. The funds charge management fees in line with the firm’s previous 2x funds.

ProShares broke ground in October 2021 with BITO, the first US Bitcoin futures‑linked ETF, and followed with BITI, the first inverse Bitcoin ETF. Last year, the firm listed EETH, the first ETF tied to Ethereum futures, and SETH, an inverse Ethereum fund. 

Including SLON and UXRP, ProShares now offers 12 crypto-linked ETFs and three crypto-linked mutual funds, with over $1.5 billion spread across its leveraged lineup. 

The company reiterated that none of its funds invest directly in digital assets. Instead, they hold cash‑settled futures traded on regulated exchanges.

Competitors have filed for products that track other digital asset pairs. However, regulatory clearance remains limited to futures-based structures that avoid direct custody issues.

ProShares said it will continue to evaluate demand for additional leveraged or inverse exposure as market infrastructure matures and regulatory guidance evolves.

Mentioned in this article

Tether CEO Paolo Ardoino revealed that the firm holds roughly $8 billion in gold in a Swiss vault during an interview with Bloomberg News on July 7.

Ardoino called the site “the most secure vault in the world” and said the company owns almost the entire 80-ton stockpile outright, placing the El Salvador-based issuer among the largest private gold holders globally.

According to a March attestation, gold now represents nearly 5% of Tether’s $112 billion reserve portfolio. The stash’s dollar value matches the precious metals book at UBS Group AG, one of the few bullion-dealing banks that break out those holdings.

Tether’s USDT reached a market capitalization of $159 billion last month, following nearly $5 billion in monthly growth.

Ardoino argued that Tether can scale a gold program without proportionally higher fees by self-custodying bullion instead of using commercial vault operators, which charge about 50 basis points.

Regulatory headwinds in key markets

Lawmakers on both sides of the Atlantic are moving in the opposite direction. Draft US bills such as the GENIUS Act and Europe’s Markets in Crypto-Assets (MiCA) framework allow only cash or near-cash instruments to collateralize fiat-referenced stablecoins, excluding commodities like gold.

If those rules take effect and Tether seeks licenses in those jurisdictions, it would have to liquidate the bullion that backs USDT, although the company could retain metal tied to its gold-backed token, XAUT.

Notably, MiCA granted licenses to 53 crypto firms in the first six months of regulation but excluded Tether.

XAUT circulates against 7.7 tons of gold, worth approximately $819 million, which is well below the 950-ton giant among exchange-traded gold funds but large enough to make redemptions viable at vault doors in Switzerland.

Ardoino said demand could accelerate if investors lose confidence in US fiscal sustainability and seek alternatives that avoid bank-deposit risk while remaining on-chain.

Market context and outlook for bullion-linked tokens

Spot gold has advanced by roughly 25% in 2025 as traders hedge tariff-driven trade friction and wider geopolitical tension.

Ardoino said:

“Every single central bank in the BRICS countries is buying gold, so that is why the price went up in our opinion.”

Tether must still convince regulators that a metal-heavy reserve would not impede USDT’s liquidity under stress.

For now, the firm holds the metal, earns yield on Treasurys, and keeps a separate token directly convertible into vaulted bars, combining traditional bullion economics with blockchain settlement.

Mentioned in this article

The issuer of the largest stablecoin by market cap just acquired significant holdings with a gold-focused royalty company listed in Canada.

In a statement, Elemental Altus says that Tether just completed the purchase of 78,421,780 common shares at a price of C$1.55, or around $1.14 per share, for a total of C$125,553,759, or about $89 million.

The acquisition represents approximately 31.9% of the precious metals royalty firm’s issued and outstanding common shares.

Tether already owns 4,360,511 shares in Elemental Altus, which brings the USDT issuer’s aggregate common shares holdings to 82,782,291. This represents approximately 33.7% of the Canadian firm’s issued and outstanding shares.

Elemental Altus CEO and director Frederick Bell says Tether is now one of the company’s leading investors.

“Building on previous discussions with Tether, we are very pleased to officially welcome Tether as the Company’s new major shareholder. Their unmatched ability to support the company in its next phase of growth is exciting for all shareholders and is a positive for the gold royalty sector.”

In a separate statement, Tether CEO Paolo Ardoino says the investment reflects the company’s confidence in gold and its role in financial markets.

“Elemental’s royalty model provides diversified exposure to gold production around the world, aligning strategically with our vision for Tether Gold and future commodity-backed digital asset infrastructure.”

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/cosmoman