Exodus Movement launched Exodus Markets on June 12, adding trading for over 200 tokenized US stocks, ETFs, and real world assets inside the Exodus wallet on Solana. Built with Ondo Finance's Ondo Global Markets, it offers onchain tokenized representations of equities and is available only to eligible users in select non US jurisdictions.

On June 12, Bitcoin ETFs recorded a 1 day net inflow of 1,423 BTC worth $90.61M and a 7 day net inflow of 12,045 BTC worth $767.21M. Ethereum ETFs logged a 1 day net inflow of 7,046 ETH worth $11.79M and a 7 day net inflow of 27,515 ETH worth $46.03M.

Odaily Planet Daily reports that Kraken's official account, Nata, said on X that Kraken did not receive the expected pre-IPO allocation from SpaceX's underwriters. As a result, only part of customer orders could be filled today; any unfilled portions will be fully refunded with no fees. Kraken said it is now enabling eligible customers to trade SpaceX equity and tokenized SpaceX (SPCXx) on the platform. The firm noted that demand for SpaceX pre-IPO access via xStocks has been exceptionally strong, and that IPO allocations are determined solely by the issuer's underwriters amid robust global demand. Kraken added that Payward is positioned to secure IPO allocations, citing more than $1 billion in pre-IPO demand attracted in the week ahead of the listing. Customers will receive updates in the coming weeks regarding upcoming IPO Access offerings. After SpaceX lists publicly, Kraken plans to make SpaceX equity and xStock available to eligible customers. Kraken also said xStocks is currently the only platform offering continuous trading of tokenized SpaceX shares, with trading available over the first weekend following the listing.

The U.S. Court of Appeals for the Second Circuit upheld former FTX CEO Sam BankmanFried's 25year sentence and rejected his request for a new trial. The panel affirmed the 2023 New York jury verdict finding him guilty on seven fraud and conspiracy counts, citing overwhelming evidence he knowingly carried out largescale fraud.

Ethena Labs plans to allocate $250 million to STAC, a tokenized AAA-rated CLO fund launched by Securitize that is now available on Solana, The Block reported. Developed by Securitize in collaboration with BNY, STAC invests in U.S. dollar-denominated, AAA-rated collateralized loan obligations. The fund currently manages $102 million from four investors. Ethena said the investment is intended to broaden the collateral base supporting its USDe and USDtb tokens.

Avalanche Treasury Co. [NASDAQ: AVAT] began trading on Nasdaq on June 11, pitching itself as a publicly listed vehicle built to deploy capital across the Avalanche ecosystem rather than simply stockpile AVAX. The listing arrives as crypto treasury companies try to broaden the Bitcoin-centric playbook popularized by Strategy and other corporate BTC holders. The market response was swift. AVAT shares sank more than 20% on June 12, adding to earlier-week declines as investors sized up the company's long-horizon ecosystem strategy amid ongoing weakness across Avalanche-related assets. AVAX also stayed under pressure. TradingView data shows the token sliding toward multi-month lows, while its daily RSI dropped into oversold territory near 24. Ecosystem-focused treasury pitch In a June 11 statement, AVAT said it aims to give public-market investors exposure to the "full Avalanche value chain" as institutional blockchain adoption accelerates. The company said it is structured without redemption pressure or forced liquidation, giving it the flexibility to hold positions and recycle capital through market cycles. "AVAT intends to deploy capital deliberately to compound Avalanche's ecosystem value over time, much like a corporate treasury," Chief Executive Officer Bart Smith said. AVAT stressed that its approach is not a pure bet on AVAX price appreciation. It plans to allocate capital across validators, infrastructure, institutional finance applications, and broader ecosystem growth initiatives. Avalanche leans into institutional adoption narrative The debut also aligns with Avalanche's push to frame the network as institutional-grade infrastructure. The company said more than $1.65 billion of real-world assets have been tokenized on Avalanche, with over $1.02 billion in institutional funds deployed across the network. Ava Labs founder Emin Gün Sirer said sustained, ecosystem-oriented capital participation could support long-term infrastructure growth. Post-listing pressure on AVAT and AVAX Despite the institutional messaging, both AVAT and AVAX remained under pressure after the Nasdaq launch. TradingView data shows AVAT fell more than 20% on June 12, extending a five-day slide of over 50% as investors reacted cautiously to an ecosystem-based treasury model. AVAX has also struggled, dropping toward multi-month lows around the $6 area after breaking key support earlier this month. Its daily RSI fell to about 24, pointing to oversold conditions and weak near-term momentum despite a modest stabilization attempt. The price action suggests investors are still weighing not only Avalanche's outlook, but also whether public markets are ready to embrace crypto treasury structures built around ecosystem deployment rather than Bitcoin-focused strategies. Final Summary AVAT entered Nasdaq as a public company designed to deploy capital across the Avalanche ecosystem instead of simply holding AVAX. The debut has been met with selling pressure in both AVAT and AVAX, reflecting broader skepticism toward emerging crypto treasury models.

Michael Saylor's long-standing "never sell" Bitcoin refrain drew renewed attention after Strategy disclosed a small but headline-grabbing BTC sale—a move Saylor addressed publicly at BTC Prague. A brief, first sale since 2022 Strategy reported that it sold 32 BTC between May 26 and May 31 for about $2.5 million, or roughly $77,135 per coin on average. It was the company's first disclosed Bitcoin sale since December 2022. The sale represented about 0.0038% of Strategy's Bitcoin holdings at the time—minor in size, but notable for a firm known for continuous accumulation. Saylor's explanation at BTC Prague Speaking onstage at BTC Prague on June 11, Saylor reaffirmed his personal message to retail investors: "I said to YOU never sell your bitcoin." He separated that guidance from corporate treasury management, describing the 32-BTC sale as a company-level financing action rather than a shift in long-term conviction. Why Strategy sold In its June 1 filing, Strategy said proceeds from the sale were intended to help fund preferred-stock distributions. The board declared cash dividends across several preferred share series (STRF, STRC, STRE, STRK, STRD), with STRC carrying an 11.50% annual dividend rate for June. The dividends, in effect, created a short-term liquidity need. Days later: a far larger buy Strategy quickly followed with a substantially bigger purchase. From June 1 through June 7, the company bought 1,550 BTC for about $101.3 million at an average price of $65,332 per coin—nearly 50 times the size of the earlier sale. Strategy said it funded the purchase through its at-the-market share program, while also rebuilding liquidity and lifting its U.S. dollar reserve to $1 billion. Holdings and market read-through Strategy's dashboard now shows 845,256 BTC held at an average acquisition price of $75,680, maintaining its position as the largest public corporate Bitcoin holder. The company remains a net buyer, but the small sale has reshaped perceptions. Investors are weighing whether "never sell" was primarily a slogan aimed at individuals, while Strategy's treasury policy stays pragmatic—including occasional sales to meet dividend or financing obligations. What investors are watching Attention now turns to the June 30 dividend payments and how Strategy plans to fund ongoing preferred-stock commitments: through cash reserves, additional capital markets activity, or intermittent small BTC sales. Saylor's remarks suggest accumulation remains the priority, with liquidity management treated as a separate corporate function—an approach that may reassure some investors while leaving others less convinced about the rigidity of the "never sell" message.

Metaplanet said it has acquired Japanese brokerage Siiibo Securities and renamed it Metaplanet Securities Co., Ltd., a move that gives the company licensed access to traditional securities services as it advances its Bitcoin treasury strategy, CoinDesk reported. Siiibo Securities is a licensed first-class financial instruments business operator in Japan and previously provided corporate bond subscription services to individual investors via an online platform. Metaplanet said it will fold the broker into its ecosystem to underpin future securities services and new financial product offerings, combining conventional securities infrastructure with its cryptocurrency-focused direction. CEO Simon Gerovich said the new Metaplanet Securities will operate under "Project Nova," an initiative aimed at bringing Bitcoin-related financial services to Japan's investment market. The report said Metaplanet plans to use Siiibo's regulatory licenses and digital securities infrastructure to develop Bitcoin-linked yield products for Japanese investors, signaling an expansion beyond simply holding Bitcoin on its balance sheet. Metaplanet is also targeting Japan's large pool of household liquidity. The report cited more than 1,190 trillion yen held in cash deposits and low-yield savings products, which the company hopes to channel into higher-yielding assets. Financial terms, settlement details, and the timing for an initial launch of Bitcoin-related products were not disclosed. The report noted that the information available so far is largely based on company statements and overseas media coverage, and described the deal as Metaplanet's first comprehensive acquisition aimed at expanding its Bitcoin treasury initiative.

SpaceX, the aerospace company led by Elon Musk, has become the world's eighth-largest publicly reported Bitcoin holder. The company's Bitcoin balance totals 18,712 BTC, placing it among the top 10 corporate holders disclosed in public records.