JPMorgan Chase expanded its position in BlackRock's iShares Bitcoin Trust by approximately 2.07 million shares during the third quarter, reaching a total of 5.28 million shares valued at around $333 million as of September 30. The bank's ethereum ETF allocation remained minimal at 66 shares worth approximately $1,700. The expansion comes as JPMorgan analysts project bitcoin could reach $170,000 within six to 12 months.

JPMorgan increased its December 2026 price target for IREN to $28 from $24, citing the company's $9.7 billion Microsoft contract as validation of its pivot from bitcoin mining to AI infrastructure. Analysts project IREN will need to deploy approximately 120,000 GPUs and 320 megawatts of capacity within 13 months. The buildout is expected to require more than $9 billion in capital expenditure despite Microsoft's upfront payment.

ARK Invest CEO Cathie Wood lowered the firm's long-term bitcoin price projection by approximately $300,000, attributing the adjustment to stablecoins' expanding adoption in emerging markets. Wood noted that stablecoins now fulfill payment and savings functions previously expected for bitcoin, directly impacting ARK's bullish scenario modeling. The revision references ARK's earlier forecasts, though the firm had raised its 2030 bull-case target to $2.4 million in April.

Franklin Templeton launched Hong Kong's first tokenized money-market fund on January 8, 2025. The Franklin OnChain U.S. Government Money Fund, registered in Luxembourg and backed by short-term U.S. Treasuries, uses blockchain tokens to represent investor shares and record ownership digitally. The launch aligns with Hong Kong's five-year fintech strategy focused on AI and blockchain integration across financial services.

Tokyo-listed Metaplanet Inc. closed a $100 million credit facility on October 31, collateralized by part of its 30,823 BTC holdings valued at approximately $3.2 billion. The loan will finance additional bitcoin acquisitions and support the company's income-generation program that earns option premiums on pledged BTC.

Paris-based Sequans Communications sold approximately 970 bitcoin to redeem $94.5 million in convertible debt, reducing its holdings from 3,234 BTC to 2,264 BTC. The transaction lowered the company's debt-to-net-asset-value ratio from 55% to 39%. The sale represents the first significant bitcoin offload by a publicly listed company with a bitcoin treasury strategy.

Strategy reported third-quarter profit of $2.8 billion with diluted earnings of $8.42 per share, beating analyst consensus of $8.15. The company acquired approximately 43,000 bitcoins during the quarter, bringing total holdings to 640,808 BTC valued near $69 billion at current prices. Strategy raised its STRC preferred stock dividend to 10.5% for November, up from 10.25% in October.

Prediction market platform Polymarket plans to resume U.S. operations before the end of November, according to sources cited by Bloomberg. The company acquired QCX, a licensed derivatives exchange, after reaching a 2022 settlement with the CFTC that resulted in a $1.4 million penalty and required it to cease domestic services. The platform has opened a waitlist for U.S. users ahead of its reentry.

S&P Global Ratings assigned Strategy Inc. a B-minus issuer credit rating with stable outlook, citing the bitcoin-holding firm's balance sheet concentration and structural currency mismatch. TD Cowen maintained its Buy rating with a $620 price target, projecting potential 114% upside. The firm estimates Strategy could accumulate approximately 900,000 BTC by 2027, representing over 4% of total bitcoin supply.