Cantor’s $4B Bitcoin SPAC; SharpLink Tops ETH Holdings
Cantor Equity Partners 1, a SPAC affiliate of Cantor Fitzgerald led by Brandon Lutnick, is set to complete a $4 billion acquisition of up to 30,000 BTC from Blockstream founder Adam Back. The Bitcoin SPAC deal includes an $800 million capital raise and a planned rebrand to BSTR Holdings, marking nearly $10 billion in crypto buys by Lutnick this year.
Meanwhile, Nasdaq-listed SharpLink Gaming has become the largest corporate ETH holder with 280,706 ETH (≈$840 million) after a $413 million fundraising and purchase of 74,656 ETH. The company retains $257 million for further ETH acquisitions.
Separately, former President Trump reached a deal with GOP lawmakers to advance the GENIUS Act, Anti-CBDC Surveillance Act and CLARITY Act, potentially clearing the path for key crypto legislation. These developments underscore growing institutional demand for digital assets and could bolster market stability.
Bullish
This news is bullish for Bitcoin and Ethereum. A $4 billion Bitcoin SPAC signals strong institutional demand that can drive BTC price higher in the short term, while SharpLink’s ETH accumulation underscores robust corporate interest in Ethereum. Progress on key crypto legislation reduces regulatory uncertainty, supporting sustained growth and investor confidence over the long term.