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Peter Thiel’s Founders Fund dumps every ETHZilla share

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Peter Thiel's Founders Fund dumps every ETHZilla share

Digital asset treasury firms with a sole business of investing in tokens have fallen out of investor favor and how.

Billionaire entrepreneur and co-founder of PayPal and Palantir Technologies Peter Thiel’s venture arm has wiped its slate clean of ETHZilla, selling every last share of the ether-hoarding digital asset treasury firm by the end of the last year, fresh paperwork filed with the Securities and Exchange Commission shows.

Thiel’s Founders Fund now shows a big fat zero in ownership, down from a 7.5% stake in August last year.

ETHZilla, a crypto investment firm based in Palm Beach, mimics Michael Saylor’s bitcoin hoarding firm Strategy (MSTR). ETHZilla started as a failed biotech stock called 180 Life Sciences, before pivoting hard to Ethereum (ETH) treasury, amassing over 100,000 ETH tokens at its peak.

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The fund, however, panicked as markets peaked in early October and $40 million in ether for buybacks, then $74.5 million more in December to reduce debt from convertible notes. According to Bloomberg, the firm is pivoting hard again, spinning out ETHZilla Aerospace to offer investors tokenized slices of leased jet engines.

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Crypto World

Bitcoin ETFs Post $105M Outflows As Hong Kong Buyer Emerges

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Bitcoin ETFs Post $105M Outflows As Hong Kong Buyer Emerges

US spot Bitcoin exchange-traded funds (ETFs) posted $104.9 million in net outflows on Tuesday in the first trading session this week.

Total trading volume in spot Bitcoin (BTC) ETFs fell to just over $3 billion, down nearly 80% from a record $14.7 billion on Feb. 5, reflecting a continued slowdown in trading activity, according to SoSoValue data.

Daily flows in US spot Bitcoin ETFs since Feb. 9, 2026. Source: SoSoValue

The outflows came as another round of institutions reported their Bitcoin ETF holdings for the fourth quarter of 2025, with Jane Street ranking as the second-largest buyer of BlackRock’s iShares Bitcoin ETF (IBIT) in Q4, buying $276 million.

Q4 also saw a new IBIT entrant, an obscure Hong Kong-based company called Laurore, which acquired $436.2 million of the ETF in a single purchase reported to the US Securities and Exchange Commission.

A potential sign of Chinese institutions moving into Bitcoin?

According to Bitwise Investments adviser Jeff Park, Laurore’s newly disclosed position in IBIT could be an early indication of institutional Chinese capital entering Bitcoin.

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Park said Laurore has no public footprint — no website or press — and the only available information is that the filer’s name is Zhang Hui, the Chinese equivalent of “John Smith.”

Source: Jeff Park

While Park speculated that the investment may be linked to capital flight, some commentators questioned why the company would choose to buy Bitcoin through an ETF rather than directly.

Brevan Howard slashes IBIT holdings by 85%

Beyond Laurore and Jane Street, several institutions made significant moves with IBIT in Q4 2025. Weiss Asset Management reportedly added about 2.8 million shares ($107.5 million), while 59 North Capital increased its position by 2.6 million shares ($99.8 million).

Abu Dhabi’s state-owned investment firm Mubadala Investment also boosted its IBIT holdings by 45%, rising from 8.7 million shares in Q3 to 12.7 million in Q4, valued at $630.7 million.

Source: Zerohedge

In contrast, some companies cut their Bitcoin ETF exposure in Q4 2025. Brevan Howard reduced its IBIT holdings, dropping about 85% from 37 million shares ($2.4 billion) in Q3 2025 to about 5.5 million shares ($273.5 million) in Q4.

Goldman Sachs also trimmed its IBIT holdings by about 40%, leaving around $1 billion in assets.

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