Crypto entrepreneur and influencer Anthony Pompliano is reportedly making ready to spearhead a serious Bitcoin funding initiative via a brand new entity known as ProCapBTC, which may quickly go public by way of a merger with a SPAC.
$750 million fundraising plan to amass Bitcoin
In accordance with a report by the Monetary Occasions, Pompliano is in discussions to grow to be CEO of ProCapBTC, an funding car centered on buying giant portions of Bitcoin. The corporate is predicted to lift as much as $750 million ($500 million in fairness and $250 million in convertible debt) via a merger with Columbus Circle Capital 1, a particular goal acquisition firm (SPAC) backed by funding financial institution Cohen & Firm.
The merger, which continues to be below negotiation, might be introduced as quickly as subsequent week. If finalized, the deal would place ProCapBTC as a publicly traded Bitcoin acquisition firm, echoing comparable treasury methods employed by corporations like MicroStrategy. A full deployment of $750 million into Bitcoin would place the agency among the many high institutional BTC holders, simply exterior the highest 10.
The highest 10 publicly-traded firms by BTC holdings. Picture supply: BitcoinTreasuries.
Pompliano already leads one other SPAC, ProCap Acquisition Corp, which raised $250 million in a Nasdaq debut in Might. Shares of ProCap Acquisition (PCAPU) have seen a notable uptick in June, rising from $10.60 to $11.40 earlier than closing at $11.30 on Thursday. Nonetheless, the connection between ProCap Acquisition and the brand new entity, ProCapBTC, stays unclear.
Regardless of widespread hypothesis, Pompliano has but to substantiate his involvement within the reported SPAC merger. He and representatives from Cohen & Firm declined to touch upon the continuing discussions, in keeping with a number of media shops.
This growth underscores a broader wave of crypto-linked public choices. Final week, stablecoin issuer Circle noticed its inventory soar 168% on its debut, whereas Bullish Group, the mother or father of CoinDesk and Bullish Change, is reportedly eyeing an IPO.
Corporates, ETFs and governments management over 30% of Bitcoin’s circulating provide
A joint report from Gemini and Glassnode reveals that centralized entities now maintain over 30% of Bitcoin’s circulating provide, greater than 6.1 million BTC. This marks a 924% enhance since 2015, underscoring the rising institutionalization of the Bitcoin market.
Distribution of BTC treasury holdings by completely different entity sorts. Picture supply: Bitcoin Adoption, Volatility and Market Cap report by Gemini and Glassnode.
The report examines 216 main holders throughout exchanges, ETFs, private and non-private firms, DeFi protocols, and governments. Exchanges maintain essentially the most BTC, whereas public firms are essentially the most quite a few. In most classes, simply three entities management as much as 90% of whole holdings, highlighting the affect of early institutional adopters.
Though exchange-held BTC has declined, most of this has moved into ETFs and funds, particularly U.S. spot ETFs launched in 2024. Custody throughout the broader spot buying and selling sector has remained steady at 3.9M – 4.2M BTC since mid-2021.
Sovereign treasuries, notably the U.S., U.Okay., China, and Germany, maintain substantial quantities of BTC, typically from authorized seizures. The U.S. formalized this with the Strategic Bitcoin Reserve (SBR), repurposing seized belongings as sovereign reserves below an govt order issued in March 2025.
eToro is a multi-asset funding platform. The worth of your investments could go up or down. Your capital is in danger. Don’t make investments until you’re ready to lose all the cash you make investments. This can be a high-risk funding and you shouldn’t count on to be protected if one thing goes improper.
