Editor's Note: In last week's "Cryptocurrency & Stock Market Indicator" article, the research institution @citrini and subsequent analysis from its affiliated analyst accounts sparked a new wave of investment enthusiasm for copper foil industry-related stocks; the historic event of the "largest IPO in history," SpaceX's listing, concluded with many crypto platforms being forced to issue refunds due to insufficient allocations of xStocks shares, with only a few platforms like Gate, Bitmart, and MSX successfully completing allocations. After a slight rise on its IPO debut, SpaceX (SPCX) finally saw a surge overnight, surpassing the market capitalization of established U.S. stock giants like TSMC and Amazon, and under the influence of U.S. stock market sentiment and Elon Musk's personal clout, may continue to rise in the future. Regarding the macro situation, U.S.-Iran talks are progressing rapidly, with a memorandum of agreement likely to be signed soon. Despite continuous interest rate hikes by the European and Japanese central banks, U.S., Japanese, and South Korean stock markets are showing an upward trend. Currently, the focus of the stock market remains on areas related to the AI industry chain such as optics, storage, and materials.
For more cryptocurrency and stock market information, please visit MSX.COM. (Odaily Planet Daily Note: The content of this article does not constitute investment advice and is for learning and exchange purposes only.)
U.S. Stock Market Viewpoints: Institutional Accumulation OR Structural Market Changes?
"White-Haired Stock God" Serenity: The Essence of U.S. Stock Liquidity Cycles is the Shift from Retail to Institutional Investors; Negative Research Reports May Signal Institutional Accumulation
"White-Haired Stock God" Serenity posted, stating that during cycles of new technological architecture shifts, retail investors often position themselves first, while institutional capital gradually takes over in later stages and dominates market pricing. Taking stocks like SIVE, NBIS, and RKLB as examples, these initially had low institutional holdings, but with continued institutional accumulation, their prices eventually reached all-time highs.
Serenity believes that the current negative sentiment towards companies like Foci and HIMX might be related to some institutions needing liquidity and accumulating positions at low levels. In recent years, when some sell-side institutions issued negative research reports or concentrated negative news emerged, it often coincided with periods of institutional accumulation. Investors need to conduct independent research and establish their own investment logic, and should not be easily swayed by market noise. The modern liquidity cycles in the U.S. capital market essentially often manifest as a shift in holdings from retail to institutional investors, a process that may not necessarily align with the interests of retail investors.
Morgan Stanley: Funds May Spread from Tech Stocks, U.S. Stock Rally Structure Faces Change
Morgan Stanley stated that falling oil prices will ease inflationary pressures, driving funds from high-valuation tech stocks to undervalued cyclical industries. The U.S. stock market is shifting from a "single-headed rally" to a healthier broad-based advance. The upward momentum in U.S. stocks may no longer be confined to the technology sector but is gradually spreading to broader cyclical industries. The strategy team led by Michael Wilson pointed out that economically sensitive sectors that lagged during the Iran conflict period may become an important driver in the next phase.
Amid expectations of a long-term agreement between the U.S. and Iran, risk appetite has rebounded noticeably recently. The S&P 500 Index is currently only about 2% away from its all-time high. The market widely anticipates that against a backdrop of stabilizing geopolitical conditions, global stock markets may usher in a new round of gains, with European markets seen as having a relative advantage due to their higher proportion of cyclical industries.
Citrini: U.S. Stocks Have Not Peaked Yet, But 10%-15% Pullbacks May Be Seen Frequently in the Coming Months
Top research institution Citrini stated in its latest article that U.S. stocks have not peaked yet. The recent market pullback is essentially just a belated flush of some highly crowded, overly leveraged momentum stocks. Fundamentals still support the stock market's continued rise by late summer, but over the next 3-4 months, instances of the stock market retreating 10%-15% from interim highs will become more frequent.
Weekly Updates on Cryptocurrency & Stock-Listed Companies
Representative BTC Treasury Listed Companies
Strategy Spends $100 Million Two Weeks in a Row to Scoop Up BTC at Low Levels; No Other Listed Companies Increased Holdings
According to SoSoValue data, as of 8:00 AM Eastern Time on June 15, 2026, the total weekly net purchase of Bitcoin by global listed companies (excluding mining companies) last week was $100 million, a decrease of 0.99% compared to the previous week.
Strategy (formerly MicroStrategy) spent approximately $100 million last week to purchase 1,587 Bitcoins at an average price of $63,024, increasing its total holdings to 846,842 Bitcoins.
Japanese listed company Metaplanet did not purchase any Bitcoin last week, marking two consecutive months of no purchases.
Furthermore, no other listed companies purchased Bitcoin.
As of press time, the total Bitcoin holdings of the global listed companies tracked (excluding mining companies) amounted to 1,121,341 Bitcoins, an increase of 0.50% compared to the previous week. The current market value is approximately $74.24 billion, accounting for 5.6% of Bitcoin's circulating market capitalization.
Japanese Bitcoin Treasury Company Metaplanet Acquires Licensed Securities Firm Siiibo Securities
Japanese Bitcoin treasury company Metaplanet has reached an agreement to acquire 100% of the shares of Japanese licensed primary securities firm Siiibo Securities. The transaction is expected to be completed in July, after which Siiibo Securities will be renamed Metaplanet Securities.
Metaplanet stated that this acquisition is its first major M&A deal and the first concrete step in implementing its long-term strategy "Project Nova," aiming to build a Bitcoin-centric financial ecosystem in Japan. By integrating Siiibo Securities' primary securities license and online securities platform, Metaplanet plans to develop and distribute Bitcoin-related yield products for Japanese investors.
Metaplanet indicated that its balance sheet currently holds 40,177 BTC. Following this acquisition, Metaplanet Securities will utilize its securities business qualifications to provide new Bitcoin yield investment opportunities for the Japanese market. The company acknowledged the achievements of the Siiibo Securities team in building Japan's online corporate bond market, and stated that the merger will further advance the development of Bitcoin-related financial products in Japan.
Mara Holdings Increases Holdings by 1000 BTC, Total Holdings Reach 36,303 BTC
According to BitcoinTreasuries.NET monitoring, listed company Mara Holdings increased its holdings by 1000 BTC, bringing its total holdings to 36,303 BTC.
SpaceX Discloses Holding 18,712 Bitcoins Worth $1.18 Billion
SpaceX officially listed and disclosed that it holds 18,712 Bitcoins. Calculated at approximately $63,000 per Bitcoin, this Bitcoin asset is worth about $1.18 billion, making SpaceX the world's 8th largest listed entity holding Bitcoin. The relevant holding information was disclosed in SpaceX's S-1 IPO registration statement filed with the U.S. Securities and Exchange Commission.
Elon Musk's other listed company, Tesla, holds 11,509 Bitcoins. The two companies collectively control 30,221 Bitcoins. SpaceX's average Bitcoin acquisition cost is approximately $35,000 per coin.
Bitcoin Treasury Company Nakamoto Sells Approximately 600 Bitcoins to Repay Debt
Last week, Bitcoin treasury company Nakamoto officially announced that by selling approximately 600 Bitcoins and related derivative positions, it generated approximately $48 million in net proceeds, using this to repay about $45 million in outstanding debt to Kraken. This move is expected to reduce annual financing costs by approximately $4 million.
Following the transaction, the company signed a new term sheet with Kraken for the remaining $165 million USDT balance, with $105 million USDT principal extended to June 30, 2027, and the annual interest rate potentially reducible to 7.75% after meeting Bitwise's custodied wallet collateral threshold. Additionally, the company's board has authorized a stock repurchase plan of up to $25 million. Currently, the company's balance sheet still holds approximately 4,467 Bitcoins. According to a Nasdaq notice, the company has regained compliance with listing requirements.
Representative ETH Treasury Listed Companies
Bitmine Increased Holdings by 76,881 ETH Last Week; Ethereum Staking Amount Unchanged for Now
Ethereum treasury company Bitmine Immersion Technologies disclosed an increase of 76,881 ETH in holdings last week. The company's current cryptocurrency asset holdings include 5,620,754 ETH, 204 BTC, $88 million worth of Eightco Holdings equity, and $180 million worth of Beast Industries shares. Furthermore, the total amount of ETH staked by the company is 4,718,677 ETH (calculated at $1,718 per ETH, totaling $8.1 billion).
SharpLink's Cumulative Ethereum Staking Rewards Surpass 21,000 ETH
On June 10, Ethereum treasury company SharpLink announced that since initiating its ETH treasury strategy, its cumulative Ethereum staking reward earnings have reached 21,119 ETH. Additionally, the company earned 529 ETH in staking rewards last week.
Representative SOL Treasury Listed Companies
Forward Industries' Proposal to Acquire Solana Company Parent HSDT Rejected
Nasdaq-listed company Forward Industries confirmed it has submitted a non-binding all-stock business combination proposal to the board of Helius Medical Technologies (HSDT), the parent company of Solana Company. The HSDT board voted to reject the offer on June 12, stating it would not engage in further discussions regarding the transaction.
Forward Industries expressed "disappointment and surprise" at the decision, stating it believed initiating dialogue was in the interest of both companies and their shareholders. The proposal was indicative, with specific valuation, exchange ratio, and subsequent plans not yet disclosed.
SOL Treasury Forward Industries Launches Takeover Offer for Brera Holdings, 30.7% Premium Offer Rejected
Solana's largest treasury company, Forward Industries (@FWDind), issued a non-binding all-stock acquisition proposal to Brera Holdings PLC (SLMT) (@Solmate), which holds 2.1 million SOL. The offer valued SLMT at a 30.7% premium, but Brera rejected the proposal.
Representative Altcoin Treasury Listed Companies
Nasdaq-Listed Tron Inc Discloses TRX Holdings Surpass 700 Million
On June 14, Nasdaq-listed Tron Inc disclosed an additional purchase of 157,392 TRX at an average transaction price of approximately $0.3177, further expanding its TRX reserve. The company's total TRX holdings exceeded 700 million for the first time, reaching 700.4 million as of now.
Avalanche Treasury Company Avalanche Treasury Co. to Begin Trading on Nasdaq Under Ticker AVAT
Avalanche treasury company Avalanche Treasury Co. will begin trading on Nasdaq on Thursday under the ticker symbol AVAT. The company, led by former Susquehanna and AllianceBernstein executive Bart Smith, aims to accelerate the adoption and growth of the Avalanche ecosystem by allocating capital to infrastructure and applications on the Avalanche network.
The company previously merged with blank-check company Mountain Lake Acquisition Corp. in a $675 million deal. Currently, the Avalanche network hosts about 550 projects with over $1.3 billion in tokenized real-world assets. Avalanche Treasury Co. holds approximately 15 million AVAX tokens, representing about 3.5% of the circulating supply.
AIFC: 3.3 Billion WLFI to Be Used for Collateral and Lending to Alleviate Company Liquidity
WLFI treasury company AI Financial Corporation disclosed that the company currently holds WLFI tokens worth approximately $380 million, about half of which can be used for collateral, staking, or lending transactions.
According to a Form 8-K filed today, 3,321,690,994 WLFI (approximately $180 million) are available immediately. This portion of tokens is expected to become fully transferable by August 12, 2026. The remaining 3,583,585,650 WLFI are subject to a 12-month contractual lock-up and will also unlock on the same date. The above valuation is based on a WLFI price of $0.055 (as of Monday, 19:00 Eastern Time).
CEO Tony Isaac emphasized that available tokens do not mean the company intends to sell. WLFI is regarded as a strategic asset for optimizing the balance sheet and supporting company liquidity. He stated that the availability of this portion of tokens helps alleviate the going concern uncertainty disclosed in the recent Form 10-Q, and the company expects to have sufficient funds to maintain operations and fulfill obligations for at least the next 12 months.
