Zeta Network Group reported on Wednesday, that they raised approximately $230.8 Million through a privately-held share sale. The investors paid with Bitcoin.BTC) or SolvBTC — a wrapped Bitcoin-backed token issued by Solv Protocol.
The deal will see investors receive Class A Ordinary Shares and Warrants that would allow them to later purchase more shares for $2.55. Each pair of shares and warrants was sold for a total price of $1.70.
According According to Zeta’s treasury, this arrangement strengthens its balance sheet by incorporating Bitcoin-based assets. “By integrating SolvBTC into our treasury, we’re enhancing financial resilience with an instrument that combines Bitcoin’s scarcity with sustainable yield,” Patrick Ngan was the Chief Investment Officer of Zeta Network.
Zeta Network (a digital infrastructure, fintech, and Bitcoin company) expects to close the deal on Thursday.
Solv Protocol, an onchain Bitcoin Asset Management Platform, issues SolvBTC – a wrapped Bitcoin backed 1:1 token for use by institutions in yield and liquidity strategy.
Ryan Chow is the CEO of Solv Protocol. “listed entities are redefining what it means to hold Bitcoin productively.”
Related: Solv brings RWA-backed Bitcoin yield to Avalanche blockchain
The Bitcoin Yield Strategy is emerging
While Bitcoin remains the primary asset for digital asset treasuries (DATs) — a strategy popularized by Michael Saylor in 2020 — some debate has emerged over whether proof-of-stake networks like Ethereum (ETHSolanaSOLValidators can earn a higher yield, which could lead to a longer-term investment profile.
Meanwhile, businesses are looking for ways to make Bitcoin work.
BlackRock filed a Delaware trust registration for the company on Sept. 25. Bitcoin Premium Income ETF. Eric Balchunas, Bloomberg ETF Analyst said This fund generates yields by selling covered call option contracts on Bitcoin futures, and then collecting premiums.
Coinbase is launched Bitcoin Yield Fund In May, institutional investors from outside of the US will have access to BTC yields. The fund aims to generate an annual net return of 4% to 8% for holders.
Chow, who spoke at Token2049 this year and said Bitcoin can be used as currency, also suggested that the Token 2049 could become a cryptocurrency. staked to secure networks. He expects that in the future thousands of Bitcoin will enter Proof-of-Stake eco-systems such as Solana.
Magazine: Pakistan will deploy Bitcoin reserve in DeFi for yield, says Bilal Bin Saqib
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Source: cointelegraph.com
