SEC’s Q2 13F deadline on August 14 brought Wall Street’s crypto positions back into view, and the data showed a clear mismatch with price action. Bitcoin fell about 14.2% in the quarter, yet reported institutional BTC holdings rose 7.5% to about 536,000 coins, even as total ETF holdings declined. Bank-level filings were even more striking: Morgan Stanley and JPMorgan both expanded ETH exposure faster than BTC, while several firms shifted from spot holdings into options. The quarter also showed growing divergence in crypto-linked equities, with Strategy, Circle, Coinbase, and Robinhood drawing very different allocation decisions. Some institutions kept adding, others paused, and a few were already rotating into new products such as Solana and XRP funds.

Strategy, formerly MicroStrategy and traded as $MSTR, said on its official X account that 12 of its top 15 institutional shareholders increased their holdings in the second quarter of 2026. The company said those positions rose by a combined $1.2 billion. Strategy is widely known for holding large amounts of bitcoin and for adding to BTC holdings through equity and debt financing. Its share price tends to move closely with bitcoin and institutional flows, and the latest disclosure suggests that most of its core institutional investors kept adding to the stock during the quarter.

Bitget market data showed mixed performance across U.S.-listed crypto-related stocks over the past 24 hours. ASST (Strive) and MSTR (Strategy) were among the gainers, rising 2.66% and 0.89%, respectively. On the losing side, BTGO (BitGo) posted the sharpest decline in the group at 3.37%, followed by CRCL (Circle) at 2.28% and BLSH (Bullish) at 1.85%. Other names in negative territory included GLXY (Galaxy Digital), GEMI (Gemini), BMNR (BitMine), SBET (Sharplink), and COIN (Coinbase). The data points to a split session for the U.S. crypto equity segment rather than a uniform move across the sector.

Decrypt’s Morning Minute said Pump.fun’s PUMP token is showing its first golden cross since launch, with the 50-day EMA moving above the 200-day EMA after a prolonged downturn. The token fell to $0.001491 in July, traded as high as $0.003 intraday on Monday, and later changed hands near $0.002733. The report tied the move to improving business performance rather than price action alone. According to DefiLlama data cited in the piece, Pump.fun generated $11.52 million in revenue over the past seven days, ranking fourth among all crypto protocols behind Tether, Circle, and Canton. The newsletter also said annualized revenue stands at $458 million against a $1.09 billion market cap, while August 10 to 16 fees reached $10.74 million, up 7% week over week. Pump said Tuesday’s $1.73 million marked its strongest single revenue day since January 30. The article also highlighted Pump.fun’s buyback-and-burn structure, recent product changes including Callout Rewards and lower trading fees, plus broader market, macro, ETF, memecoin, token, and NFT developments covered in the daily roundup.

PANews’ Aug. 18 roundup put a wide range of crypto, regulatory, and AI-linked developments on the tape, led by a proposed U.S. Treasury rulemaking tied to the GENIUS Act. The Treasury said it is seeking public comment on the implementation framework for Section 3 of the law. Under the timeline described in the notice, payment stablecoin issuance in the U.S. would generally require a federal or state license starting Jan. 18, 2027, while digital asset service providers would generally be barred from offering U.S. users payment stablecoins issued by unlicensed issuers starting July 18, 2028. Public comments can be filed within 60 days after the proposal is published in the Federal Register. Elsewhere, Bitmine added 9,926 ETH last week, lifting its total holdings to more than 5.81 million ETH. Strategy said it repurchased $132.2 million of STRC and raised its U.S. dollar reserves by $149.1 million to $4.8 billion, while keeping its Bitcoin holdings unchanged at 840,447 BTC. Unitree Robotics said its shares will begin trading on Shanghai’s STAR Market on Aug. 19, with initially unrestricted float accounting for 7.44% of total post-offering shares. The daily digest also covered the U.S. Department of Justice’s antitrust probe into Andreessen Horowitz, Ethereum Foundation warnings tied to the coming Glamsterdam upgrade, and a slate of funding, exchange, and tokenization updates.

This earnings season, crypto treasury companies posted bruising results: Strategy lost $8.22 billion in Q2, Strive lost $258 million, Sharplink lost $394 million, Metaplanet lost 182.8 billion yen in the first half, and Bitmine's nine-month net loss topped $9 billion. Combined Q2 losses came to about $10 billion, yet several names rallied anyway. The article argues that the market has already priced in the losses and is now focusing on one metric: how much crypto each share represents. Strategy raised $8.4 billion in Q2, repurchased $1.5 billion of convertible debt at a discount, and increased cash reserves to $3.75 billion. Sharplink sold shares above NAV and bought back stock. Metaplanet tightened capital rules around mNAV. The common thread is discipline: these firms are now managing toward higher per-share crypto exposure rather than headline growth. The new funding tools built around perpetual preferred stock, such as STRC, SATA, BMNP and Metaplanet's BitBonds plan, are spreading the model across the sector. Premiums are falling, but the structure may stay. Once the narrative is stripped away, DATs look more like actively managed thematic funds with embedded financing tools, and the market is treating them that way.

WuBlockchain’s weekly roundup highlighted 10 crypto stories spanning regulation, market structure, mining economics, corporate treasury moves, ETF product design, and new exchange infrastructure. The headline item was another delay to the U.S. Securities and Exchange Commission’s proposed tokenization “innovation exemption,” which reporter Eleanor Terrett said may remain on hold while stakeholders continue negotiating tokenization language in Section 10505 of the Clarity Act. The SEC still plans a later public meeting on Regulation Crypto Assets, covering new rules and exemptions for crypto asset financing transactions. Elsewhere, Russia’s central bank proposed allowing non-qualified investors to buy BTC, ETH, and USDT with an annual cap of 300,000 rubles per intermediary, while qualified investors would face no purchase cap. Strategy disclosed that it sold 1,690 BTC between Aug. 3 and Aug. 9 to fund STRC buybacks and also raised capital through MSTR share sales, while Fidelity moved to add ETH staking and quarterly cash distributions to its Fidelity Ethereum Fund. The roundup also covered Anthropic’s $9.1 billion cloud deal with Riot, UMX’s launch as a crypto-friendly securities platform incubated by Avenir Group, Wintermute’s $1 billion infrastructure plan, Andre Cronje’s critique of modern DeFi, and GSR’s view that a stronger crypto bull market likely needs both cooling AI capital flows and Federal Reserve rate cuts.

Susquehanna International Group has doubled its position in Strategy Inc., formerly known as MicroStrategy, to roughly $232 million, according to a filing disclosed on May 15. The 13F filing showed the quantitative trading firm held 1.283 million shares of Strategy as of March 31. The report said the increase in the current value of that position may reflect additional buying after the reporting date or gains in the stock price. The move was described as part of a broader wave of institutional buying in Strategy during the first quarter of 2026. In that period, institutional investors collectively added about $4.6 billion in MSTR positions, a 27% increase. The company, led by Michael Saylor, has continued to accumulate Bitcoin through stock offerings and convertible bond issuance. The report also noted that in December 2025, Strategy sold $748 million of common stock in a single week to bolster its cash reserves.