Zeta Network Raises $231M via Bitcoin & SolvBTC Placement
Nasdaq-listed Zeta Network Group has launched a $231 million private placement of Class A common shares and warrants, priced at $1.70 per share-warrant unit with a $2.55 exercise price. Qualified investors may subscribe using Bitcoin (BTC) or SolvBTC, a regulated wrapped Bitcoin token fully backed 1:1 by custodial BTC. The deal, expected to close on October 16, aims to bolster Zeta Network’s balance sheet, accelerate cross-chain infrastructure development, and enhance liquidity by integrating a yield-bearing Bitcoin instrument into its corporate treasury. Management notes that accepting BTC and SolvBTC underscores a growing trend of tokenized Bitcoin financing and institutional adoption. The transaction may dilute existing shareholders and traders should review upcoming SEC filings for details on Bitcoin accounting treatment.
Bullish
By integrating Bitcoin and SolvBTC into its corporate treasury, Zeta Network demonstrates strong institutional demand for tokenized BTC financing, which reinforces market confidence. The private placement’s size and acceptance of crypto payments signal potential increase in Bitcoin demand, offering bullish momentum. In the short term, the news may spur speculative buying in BTC and related assets, while long-term effects include strengthened on-chain liquidity and broader adoption of yield-bearing Bitcoin instruments, underpinning sustained price support for BTC.