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BlackRock’s spot Bitcoin ETF surges into the nation’s AUM elite as October inflows accelerate and BTC pushes toward $120,000.  

---

## Why This Matters Now
On **October 2, 2025**, BlackRock’s iShares Bitcoin Trust ([IBIT](https://www.blackrock.com/us/individual/products/333011/ishares-bitcoin-trust)) joined the ranks of the **20 largest U.S. exchange-traded funds by assets under management (AUM)**—an echelon historically dominated by equity and bond exposures.  

That day, **U.S. spot Bitcoin ETFs recorded ~$675.8M in net inflows**, their strongest daily haul since early September. IBIT alone drew **$405.5M**, its biggest single-day intake since mid-August, while **Bitcoin traded around $119K–$120K**.  

For institutional allocators, this signals more than a leaderboard milestone: it confirms that **Bitcoin, wrapped in a regulated ETF, is now a serious portfolio building block**.  
(Source: [CoinDesk](https://www.coindesk.com/markets/2025/10/02/blackrock-s-ibit-enters-top-20-etfs-by-assets-sees-biggest-inflow-since-mid-august))

---

## The Milestone
- **IBIT AUM:** ~$90.7 billion  
- **Status:** Top-20 U.S. ETF by assets  
- **Peers:** SPY, VOO, IVV (S&P 500 trackers), AGG/BND (core bonds), GLD (gold)  

This means a **single-asset, physically backed Bitcoin fund** now sits alongside traditional equity and bond giants in the portfolios of **pensions, banks, and wealth managers**.  

For comparison, **SPDR Gold Shares (GLD)**, the benchmark gold ETF, took over five years to cross $50B in assets after launch. IBIT reached top-20 status in less than two years since its **January 2024 listing**.  

---

## The Flows Driving Adoption
- **October 2, 2025 ETF inflows:**  
  - IBIT: $405.5M  
  - Fidelity Wise Origin (FBTC): $179M  
  - Bitwise: $59M  
  - ARK: $6M  

This institutional cadence follows a pattern: **capital waits through volatility, then moves aggressively when Bitcoin momentum and macro conditions align.**  

Historically, Q4 is Bitcoin’s strongest season, and allocators increasingly prefer ETFs over private custody to gain exposure.  

---

## Bitcoin’s Price Impact
ETF flows are creating a **reinforcing loop**:  
- Creations drive **spot buying**.  
- **Futures open interest** (>$32B) supports hedging.  
- **In-kind creations** (newly approved by the [SEC](https://www.sec.gov/newsroom/press-releases/2025-101-sec-permits-kind-creations-redemptions-crypto-etps) cut costs and slippage.  
- IBIT options volume now **rivals Deribit**, making hedging more accessible for institutions.  

The result: **tighter spreads, reduced slippage, and more predictable liquidity for allocators**.  

---

## Institutional Implications
- **Ranking power:** Top-20 ETFs attract automatic **shelf space, model portfolio inclusion, and analyst coverage**.  
- **Operational readiness:** Many pensions and endowments unlock Bitcoin allocations once funds hit size thresholds.  
- **Diversification case:** Bitcoin’s **low correlation with equities** makes it a potential diversifier, especially when **real yields fall**.  
- **Collateral use:** IBIT shares, cleared and settled on exchanges, are evolving into **programmable collateral**, similar to Treasuries or equities.  

---

## Legacy Comparisons: Gold vs Bitcoin
- **GLD (2004):** Transformed access to gold, hitting $1B AUM in 3 days but taking years to scale.  
- **IBIT (2024–2025):** Surpassed **$90B in less than 24 months**.  

Where GLD legitimized gold as a portfolio asset, **IBIT legitimizes Bitcoin in record time**.  

---

## Policy and Market Structure
- **SEC approval** for in-kind creations reduces tax and trading frictions.  
- **Listed options approval** provides institutional hedging tools.  
- **Fed policy shifts** (potential October 2025 rate cuts) create macro tailwinds for **scarcity-driven assets** like Bitcoin.  
(Source: [Federal Reserve FOMC](https://www.federalreserve.gov/newsevents/pressreleases/monetary20250917a.htm))

---

## Forward Outlook
Three key signposts:  
1. **Top-10 ETFs**: IBIT is ~$50B away—possible within 2 years if momentum continues.  
2. **Collective footprint**: U.S. Bitcoin ETFs now exceed **$150B AUM** combined.  
3. **Competitive landscape**: Fidelity (FBTC) and Bitwise remain strong challengers, but **BlackRock’s distribution dominance** is unmatched.  

---

## The Bottom Line
IBIT’s arrival in the **U.S. ETF top-20** is **not a one-off anomaly**.  
It’s a **structural signal**:  
- **Bitcoin has crossed into the institutional mainstream.**  
- **ETF mechanics are now efficient, liquid, and scalable.**  
- **Allocators no longer need private keys or custody solutions—just a ticker.**  

BlackRock’s IBIT isn’t just a gateway—it’s proof that **Bitcoin is now institutional finance’s newest building block**.  

ETF Floodgates: IBIT Cracks the U.S. Top-20

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ETF Floodgates: IBIT Cracks the U.S. Top-20  

**Longer terms, stronger security: Debifi expands institutional-grade lending with stablecoin and fiat options at rates starting from 9% APR.**

---

**[September 15, 2025]** – Debifi, the leading non-custodial platform for [Bitcoin-backed lending](https://debifi.com), today announced the rollout of new 24-month loan contracts. The extended term gives borrowers - retail and institutional - predictable, long-horizon access to liquidity while retaining self-custody of their Bitcoin through multisig-secured escrow. Loans are available in fiat currencies and leading stablecoins, with APRs starting at 9%.

## 24-Month Bitcoin Loans for Long-Term Liquidity

The new 24-month option is designed to reduce rollover risk, align with multi-year investment or treasury plans, and provide clearer cost visibility over time. Debifi’s architecture ensures collateral never leaves non-custodial, multi-signature control, enabling borrowers to unlock capital without selling their BTC or compromising security.

## Institutional-Grade Security with Multisig Escrow

> “Bitcoin is super collateral - programmable, transparent, and verifiable 24/7” - said [Max Kei](https://x.com/keidunm), CEO of Debifi.  
> Extending our terms to 24 months lets clients put that collateral to work with less rollover risk and more predictable costs, all while maintaining the strongest standards of self-custody and risk management. This is what institutional-ready Bitcoin finance looks like.
## Debifi Ranked Among Safest Bitcoin Lending Platforms
Debifi’s security and credibility have been independently recognized. **Zone21.com** - a research publication by the **Nunchuk.io** team - ranked Debifi the **#2 safest Bitcoin-backed lending platform globally**, citing its non-custodial design and robust operational controls.  
Combined with market-leading pricing and a transparent risk framework, Debifi continues to set the benchmark for responsible Bitcoin-backed credit.

---

**For media inquiries:**  
*Sergejs Ponomarjovs*  
PR & Media Relations — [sergejs.ponomarjovs@debifi.com](mailto:sergejs.ponomarjovs@debifi.com)


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Debifi Introduces 24-Month Bitcoin-Backed Loans

**Period Covered:** July 21 – 27, 2025  
Brought to you by **Debifi** — the non-custodial[ Bitcoin-backed lending platform](https://debifi.com/) delivering institutional-grade liquidity.

## Market Overview
![market-overview.png](https://zr5pqljgeynt.compat.objectstorage.eu-zurich-1.oraclecloud.com/blog-production-mainnet/market_overview_06d92d1074.png)

- Bitcoin Price (July 27, 2025): ~$117,960 (closing)  
- Weekly Price Range: ~$117,256 – $119,833  
- Year-to-Date Gain: ~25%  
Key Volatility Events:
  - Price consolidation after a mid-week peak near $119,800  
  - Broader risk-off sentiment following U.S. tariff and political uncertainty  

## BTC in Treasuries (as of July 27)
![Image 28-07-2025 at 12.16.jpeg](https://zr5pqljgeynt.compat.objectstorage.eu-zurich-1.oraclecloud.com/blog-production-mainnet/Image_28_07_2025_at_12_16_3ef4a9943a.jpeg)

## Top 21 Institutional Bitcoin Holders
![top-21.png](https://zr5pqljgeynt.compat.objectstorage.eu-zurich-1.oraclecloud.com/blog-production-mainnet/top_21_287390d2b6.png)
![Bitcoin Holders 28July](https://zr5pqljgeynt.compat.objectstorage.eu-zurich-1.oraclecloud.com/blog-production-mainnet/BT_Cdolders28july_5408dfb009.png)

- **MicroStrategy, Inc.** added +6,220 BTC (Total: 607,770 BTC)  
- **Bitcoin Standard Treasury Company** entered Top 4 with +30,021 BTC (Ticker: BSTR)  
- **Trump Media & Technology Group Corp.** entered Top 6 with +18,430 BTC (Ticker: DJT)  
- **Metaplanet Inc.** added +780 BTC (Ticker: MTPLF; Total: 17,132 BTC)  
- **Semler Scientific** added +175 BTC (Ticker: SMLR; Total: 5,021 BTC)  
- **Cango Inc.** added +240 BTC (Ticker: CANG; Total: 4,240 BTC)  
- **Volcon, Inc.** entered Top 21 at #21 with +3,183 BTC (Ticker: VLCN)  

## Governmental Developments
 
- **🇸🇻 El Salvador — July 24:** The government claimed an acquisition of **8 BTC** (~$948K), but the **IMF reported no net increase**, attributing the movement to internal wallet transfers rather than new purchases.  

- **🇺🇸 United States:** No new federal or state-level Bitcoin reserve policy or acquisition developments during this week.  

## Key Observations

- **Corporate Surge:**  
  Bitcoin Standard Treasury (BSTR) leads with +30,021 BTC and joined the rankings in 4th place; Trump Media (DJT) enters the top 10 in 6th place with +18,430 BTC; Volcon, Inc. makes its debut at 21st place with +3,183 BTC.  

- **MicroStrategy & Metaplanet Accumulation:**  
  MicroStrategy continues aggressive accumulation; Metaplanet increased holdings by +780 BTC, reinforcing steady institutional demand.  

- **Broader Activity:**  
  Semler, Cango, and Volcon show continued corporate interest in diversifying into BTC.  

- **Market Conditions:**  
  BTC consolidated just under $120k, reflecting cautious sentiment as markets respond to macroeconomic developments and geopolitical uncertainty.  

📈 For charts, full entry data, and real-time updates, visit [bitcointreasuries.net](https://bitcointreasuries.net)

This report is brought to you by **Debifi**, Bitcoin-backed lending. Non-custodial. Institutional-grade.

*This report reflects verified data from July 21 – 27, 2025. We strive to provide the most accurate and up-to-date data possible. If you spot any errors or discrepancies, please let us know at sergejs.ponomarjovs@debifi.com so we can ensure the highest accuracy standards..*

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Bitcoin Treasury Weekly Report - July 21 – 27, 2025  

**Period Covered:** July 12 – 18, 2025  
Brought to you by [**Debifi** — the non-custodial Bitcoin-backed lending platform ](https://debifi.com)delivering institutional-grade liquidity.

## Market Overview
![market-overview.png](https://zr5pqljgeynt.compat.objectstorage.eu-zurich-1.oraclecloud.com/blog-production-mainnet/market_overview_dca5aec1da.png)

- Bitcoin Price (July 18, 2025): ~$117,300  
- Weekly Price Range: ~$117,300 – $118,900  
- Year-to-Date Gain: ~25%  
- Key Volatility Events:
  - Minor correction following prior week's all-time high  
  - Reduced Bitcoin ETF inflows slowed momentum  
  - Geopolitical uncertainty impacting market sentiment  

## BTC in Treasuries (as of July 18)
![BTC in Treasuries ](https://zr5pqljgeynt.compat.objectstorage.eu-zurich-1.oraclecloud.com/blog-production-mainnet/Image_18_07_2025_at_20_39_e6288eaec1.jpeg)

## Top 21 Institutional Bitcoin Holders
![top-21.png](https://zr5pqljgeynt.compat.objectstorage.eu-zurich-1.oraclecloud.com/blog-production-mainnet/top_21_287390d2b6.png)
![BTC Holdings ](https://zr5pqljgeynt.compat.objectstorage.eu-zurich-1.oraclecloud.com/blog-production-mainnet/BTC_18j_09f4bc30e6.png)

- MicroStrategy, Inc. added +4,225 BTC  
- CleanSpark, Inc. reduced holdings by -2,947 BTC  
- Metaplanet Inc. added +3,744 BTC  
- Semler Scientific added +210 BTC  

## Governmental Developments

- No new federal, state, or international government-level Bitcoin reserve developments reported during this period.

## Key Observations

- **Institutional Accumulation:**  
  MicroStrategy and Metaplanet significantly increased holdings, highlighting strong institutional confidence.

- **Portfolio Adjustment:**  
  CleanSpark notably reduced its Bitcoin holdings, suggesting strategic rebalancing.

- **Market Stability:**  
  Slight market correction indicates stabilization following previous week’s record highs.

- **ETF Activity:**  
  Reduced inflows into Bitcoin ETFs contributed to subdued market activity.

📈 For charts, full entry data, and real-time updates, visit [bitcointreasuries.net](https://bitcointreasuries.net)

This report is brought to you by **Debifi**, Bitcoin-backed lending. Non-custodial. Institutional-grade.

*This report reflects verified data from July 12 – 18, 2025. If you enjoy our reconstructions, we welcome your feedback to maintain the highest accuracy standards.*


Bitcoin Treasury Weekly Report - July 12 – 18, 2025

**Period Covered:** July 6 – 11, 2025  
Brought to you by **Debifi** — the non-custodial Bitcoin-backed lending platform delivering institutional-grade liquidity.

## Market Overview
![market-overview.png](https://zr5pqljgeynt.compat.objectstorage.eu-zurich-1.oraclecloud.com/blog-production-mainnet/market_overview_dca5aec1da.png)

- **Bitcoin Price (July 11, 2025):** ~$118,800 – $118,900 (new all-time high)  
- **Weekly Price Range:** Broke through $112k mid-week, culminating near $118.9k by July 11  
- **YTD Gain (~26%):** BTC has appreciated ~26% in 2025, matching its performance against gold  
- **Catalysts This Week:**
  - Short squeeze wiped out over $1B in short positions mid-week  
  - Approximately $1.18B inflows into Bitcoin ETFs triggered bullish sentiment  
  - Weak U.S. dollar and renewed macro risk-on narrative supported upward momentum

## BTC in Treasuries (as of July 11)
![Image 12-07-2025 at 01.46.jpeg](https://zr5pqljgeynt.compat.objectstorage.eu-zurich-1.oraclecloud.com/blog-production-mainnet/Image_12_07_2025_at_01_46_8d37d55487.jpeg)

## Top 21 Institutional Bitcoin Holders
![top-21.png](https://zr5pqljgeynt.compat.objectstorage.eu-zurich-1.oraclecloud.com/blog-production-mainnet/top_21_287390d2b6.png)
![BTC Holdings 11 July 2025](https://zr5pqljgeynt.compat.objectstorage.eu-zurich-1.oraclecloud.com/blog-production-mainnet/BT_Choldings11julyv2_3292c2fae9.png)

- **CleanSpark, Inc.** added +3,053 BTC  
- **Metaplanet Inc.** reduced holdings by –742 BTC  
- **Semler Scientific** added +187 BTC  
- **Cango Inc.** added +191 BTC  

## Governmental Developments

**🇵🇰 Pakistan** — July 9: The State Bank of Pakistan announced nearing completion of its virtual asset regulation framework and pilot launch of a CBDC, while continuing to explore yield strategies (like DeFi) for its national Bitcoin holdings.

- No new U.S. federal or state-level BTC reserve developments in this week.

## Key Observations

- **Price Breakout:**  
  BTC surged past $118k on July 11, driven by ETF inflows, short covering, and macro momentum.

- **Institutional Moves:**  
  CleanSpark’s +3,053 BTC boost shows sustained corporate confidence; Metaplanet’s –742 BTC sale is the only drawdown among tracked holders.

- **Emerging CBDC + DeFi Strategy:**  
  Pakistan's advancing CBDC pilot and exploration of Bitcoin yield strategies suggest a novel blend of digital asset policy.

- **Risk Environment:**  
  Rising BTC complements equity and gold markets amid dollar weakness; however, tariff risks (e.g., U.S. levies announced July 11) may introduce fresh volatility.

📈 For charts, full entry data, and real-time updates, visit [bitcointreasuries.net](https://bitcointreasuries.net)

This report is brought to you by **Debifi**, Bitcoin-backed lending. Non-custodial. Institutional-grade.

*This report reflects verified data from July 6 – 11, 2025. If you enjoy our reconstructions, we welcome your feedback to ensure the highest accuracy standards are maintained.*


Bitcoin Treasury Weekly Report - July 6 – 11, 2025  

**Period Covered:** June 30 – July 4, 2025  
Brought to you by **Debifi** — the non-custodial Bitcoin-backed lending platform delivering institutional-grade liquidity.

## Market Overview
![market-overview.png](https://zr5pqljgeynt.compat.objectstorage.eu-zurich-1.oraclecloud.com/blog-production-mainnet/market_overview_dca5aec1da.png)

- Bitcoin Price (July 4, 2025): ~$110,000  
- Weekly Price Range: $108,000 – $111,900  
- Q2 Performance: ~30% BTC gains  
- Key Drivers:
  - Q2 close drove strategic buying
  - Volatility dropped as options expired

## BTC in Treasuries (as of July 4)
![BTC In Treasuries](https://zr5pqljgeynt.compat.objectstorage.eu-zurich-1.oraclecloud.com/blog-production-mainnet/Image_04_07_2025_at_19_50_6f1add86d1.jpeg)

## Top 21 Institutional Bitcoin Holders
![top-21.png](https://zr5pqljgeynt.compat.objectstorage.eu-zurich-1.oraclecloud.com/blog-production-mainnet/top_21_287390d2b6.png)
![BTC Holders ](https://zr5pqljgeynt.compat.objectstorage.eu-zurich-1.oraclecloud.com/blog-production-mainnet/bitcoin_treasury_04july_276a50e44d.png)

- MicroStrategy, Inc. added +4,980 BTC  
- MARA Holdings, Inc. added +322 BTC  
- Metaplanet Inc. added +1,005 BTC  
- Cango Inc. added +96 BTC  
- ProCap BTC joined top 21 with 4,932 BTC (no weekly change)

## Governmental Developments

**🇵🇰 Pakistan** July 1: Pakistan’s crypto minister Bilal Bin Saqib announced the government will deploy its Bitcoin reserve into **DeFi protocols** to generate yield — marking the first sovereign strategy to actively earn on BTC holdings.

- No new federal or state government BTC reserve updates in the U.S. during this week.

## Key Observations

- **Institutional Momentum:**  
  MicroStrategy showed significant accumulation.

- **Market Stability:**  
  Despite quarter-end swings, implied volatility dropped, indicating a calmer investor outlook entering July.

- **State and National Action:**  
  Pakistan becomes the first known government to allocate its BTC reserve toward on-chain yield strategies via DeFi.

📈 For charts, full entry data, and real-time updates, visit [bitcointreasuries.net](https://bitcointreasuries.net)

This report is brought to you by **Debifi**, Bitcoin-backed lending. Non-custodial. Institutional-grade.

*This report reflects verified data from June 30 – July 4, 2025. If you enjoy our reconstructions, we welcome your feedback to ensure the highest accuracy standards are maintained.*


Bitcoin Treasury Weekly Report - June 30 – July 4, 2025

**Period Covered:** June 22 – 27, 2025  
Brought to you by **Debifi** — the non-custodial Bitcoin-backed lending platform delivering institutional-grade liquidity.

## Market Overview
![market-overview.png](https://zr5pqljgeynt.compat.objectstorage.eu-zurich-1.oraclecloud.com/blog-production-mainnet/market_overview_dca5aec1da.png)

- Bitcoin Price (June 27, 2025): $106,984  
- Weekly Price Range: $100,852 – $106,984  
- Market Cap Growth: $2.036T → $2.131T  
- Key Volatility Events:
  - June 22 dip tied to U.S. strikes in Iran
  - Options expiry ahead of June 27 added risk

## BTC in Treasuries (as of June 27)
![BTC in Treasuries ](https://zr5pqljgeynt.compat.objectstorage.eu-zurich-1.oraclecloud.com/blog-production-mainnet/Image_27_06_2025_at_16_47_4865a32aa3.jpeg)

## Top 21 Institutional Bitcoin Holders
![top-21.png](https://zr5pqljgeynt.compat.objectstorage.eu-zurich-1.oraclecloud.com/blog-production-mainnet/top_21_287390d2b6.png)
![Bitcoin Holders 27 June ](https://zr5pqljgeynt.compat.objectstorage.eu-zurich-1.oraclecloud.com/blog-production-mainnet/bitcoinholder27june2_b36252d463.png)

- MicroStrategy, Inc. added +10,345 BTC  
- MARA Holdings, Inc. added +303 BTC  
- Metaplanet Inc. added +3,761 BTC  
- Block, Inc. reduced holdings by -304 BTC  
- Cango Inc. added +363 BTC  
- Bitcoin Group SE reduced holdings by -5 BTC  
- Boyaa Interactive Intl Ltd reduced holdings by -255 BTC

## Governmental Developments

**🇺🇸 Texas** June 22: Governor Abbott signed SB 21 into law, officially establishing the **Texas Strategic Bitcoin Reserve** — making Texas the third U.S. state to adopt Bitcoin at the treasury level.

- No new federal or international government-level BTC holdings were reported during this period.

## Key Observations

- **Institutional Accumulation:**  
 Strategy and Metaplanet led the week with large BTC acquisitions, signaling continued corporate confidence in long-term Bitcoin strategy.

- **Macro-Driven Volatility:**  
  Market was shaken by geopolitical risk from U.S.–Iran tensions and driven further by derivatives expiry.

- **State-Level Bitcoin Adoption:**  
  Texas joins Arizona and New Hampshire in pioneering BTC reserves at the state level.

📈 For charts, full entry data, and real-time updates, visit [bitcointreasuries.net](https://bitcointreasuries.net)

This report is brought to you by **Debifi**, Bitcoin-backed lending. Non-custodial. Institutional-grade.

*This report reflects verified data from June 22 – 27, 2025. If you enjoy our reconstructions, we welcome your feedback to ensure the highest accuracy standards are maintained.*


Bitcoin Treasury Weekly Report - June 22 – 27, 2025


**Period Covered:** June 7 – 13, 2025  
Brought to you by **Debifi** — the non-custodial Bitcoin-backed lending platform delivering institutional-grade liquidity.

## Market Overview
![market-overview.png](https://zr5pqljgeynt.compat.objectstorage.eu-zurich-1.oraclecloud.com/blog-production-mainnet/market_overview_dca5aec1da.png)


- Bitcoin Price (June 13, 2025): $105,601
- Total BTC Held by Tracked Entities: 3.42 million BTC
- Monthly BTC holdings growth: +3.48%


## BTC in Treasuries (as of June 13)
![Image 13-06-2025 at 18.33.jpeg](https://zr5pqljgeynt.compat.objectstorage.eu-zurich-1.oraclecloud.com/blog-production-mainnet/Image_13_06_2025_at_18_33_77f1137555.jpeg)

## Top 21 Institutional Bitcoin Holders
![top-21.png](https://zr5pqljgeynt.compat.objectstorage.eu-zurich-1.oraclecloud.com/blog-production-mainnet/top_21_287390d2b6.png)
![13thjunebtctreasuries.png](https://zr5pqljgeynt.compat.objectstorage.eu-zurich-1.oraclecloud.com/blog-production-mainnet/13thjunebtctreasuries_3c22358a35.png)
- MicroStrategy, Inc. added +1,750 BTC.
- MARA Holdings, Inc. added +147 BTC.
- XXI added +5,730 BTC.
- CleanSpark, Inc. added +401 BTC.
- Block, Inc. added +304 BTC.
- Metaplanet Inc. added +784 BTC.
- Semler Scientific added +185 BTC.
- Bitcoin Group SE added +5 BTC.
- Boyaa Interactive Intl Ltd added +255 BTC.
- Cango Inc. added +169 BTC.
- Exodus Movement, Inc. added +27 BTC.
- BITFUFU reduced holdings by -191 BTC.


##  Governmental Developments

**🇺🇦 Ukraine** June 10: Verkhovna Rada introduced Bill No. 13356 allowing (not mandating) the National Bank to hold Bitcoin as part of state reserves.
June 13: Bill advanced significantly, positioning Ukraine among the leading European countries formally adopting Bitcoin in national reserve policy.

- No other significant governmental treasury movements were reported in this period.

## Key Observations

- **Strategic Shifts:** Significant institutional BTC accumulation, particularly by XXI (+5,730 BTC), signals growing confidence despite market volatility.

- **Market Reaction:** Bitcoin's sensitivity to geopolitical events remains evident, highlighted by nearly a 7% intraday decline on June 13.
- **Ukraine's Legislative Progress:** Potential milestone for broader European institutional adoption of Bitcoin.



📈 For charts, full entry data, and real-time updates, visit [bitcointreasuries.net](https://bitcointreasuries.net)


This report is brought to you by **Debifi**, Bitcoin-backed lending. Non-custodial. Institutional-grade.

*This report reflects verified data from June 7 – 13, 2025. If you enjoy our reconstructions, we welcome your feedback to ensure the highest accuracy standards are maintained.*


 Bitcoin Treasury Weekly Report - June 17 – 13, 2025

This paper investigates user preferences and behaviors related&nbsp;to [Bitcoin](https://debifi.com) financial services,
focusing on&nbsp;custodial and non-custodial options, private key ownership, and the use of&nbsp;Bitcoin
as&nbsp;collateral. Data was gathered through an&nbsp;online survey and in-person responses at&nbsp;the
[Plan B&nbsp;Forum in&nbsp;Lugano](https://planb.lugano.ch/forum-agenda-2024/), targeting Bitcoin enthusiasts
to&nbsp;understand community-specific trends.

## Methodology

The survey collected 200 responses from participants selected randomly within the Bitcoin community, ensuring
representation while acknowledging potential biases. Questions covered demographic data, familiarity with custodial and
non-custodial services, and attitudes toward collateral, interest rates, and rehypothecation.

## Key Findings

### Demographics

Respondents were primarily aged 18-45 (75.6%) and predominantly from Europe (67.8%).

### Bitcoin Ownership and Familiarity

96.1% of&nbsp;participants had owned Bitcoin.

99.4% were familiar with custodial and non-custodial ownership concepts.

### Preference for Financial Services

78.1% preferred non-custodial services.

11.7% preferred custodial services.

10.2% had no&nbsp;preference.

66.3% considered exclusive access to&nbsp;private keys essential.

60.5% favored Bitcoin lending platforms over traditional banks.

![preference-for-financial-services.webp](https://zr5pqljgeynt.compat.objectstorage.eu-zurich-1.oraclecloud.com/blog-production-mainnet/preference_for_financial_services_adc851cd0d.webp)

### Willingness to&nbsp;Use Bitcoin as&nbsp;Collateral

83.9% indicated they would use Bitcoin as&nbsp;collateral for loans, reflecting trust in&nbsp;its role
as&nbsp;a&nbsp;financial asset.

### Interest Rate Trade-Offs and Rehypothecation

81% preferred avoiding rehypothecation, even at&nbsp;a&nbsp;higher interest rate (11%).

19% opted for an&nbsp;8% interest rate with rehypothecation.

78% opted for higher interest rates (+3%) to&nbsp;retain non-custodial control of&nbsp;their collateral.

![rehypothecation.webp](https://zr5pqljgeynt.compat.objectstorage.eu-zurich-1.oraclecloud.com/blog-production-mainnet/rehypothecation_8d05b58d1e.webp)

## Implications for Financial Services

These findings highlight a&nbsp;strong preference for non-custodial, user-controlled solutions that align with
Bitcoin&rsquo;s core principles of&nbsp;decentralization and transparency. Trust in&nbsp;platforms is&nbsp;critical,
with users valuing asset security over cost savings.

Service providers can meet these expectations by&nbsp;integrating features like multisig setups, transparent practices,
and protections against rehypothecation. Platforms such&nbsp;as [Debifi](https://debifi.com), with its non-custodial
model and innovative 3-of-4 multisig framework, address these user demands while emphasizing security and user autonomy.

## Conclusion

The study underscores a&nbsp;significant shift in&nbsp;user expectations, away from centralized models toward
decentralized, trustless financial systems. Bitcoin users demonstrate a&nbsp;willingness to&nbsp;trade higher costs for
control and transparency, reflecting a&nbsp;mature understanding of&nbsp;financial risks and rewards. By&nbsp;aligning
services with these preferences, providers can foster trust, loyalty, and adoption within the Bitcoin community.

This research serves as&nbsp;a&nbsp;roadmap for designing user-focused Bitcoin financial services that respect
decentralization and promote financial sovereignty.

[Download the original research paper](/docs/publications/Navigating_Bitcoin_Financial_Services_A_Survey_on_User_Behavior.pdf)

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Navigating Bitcoin Financial Services: Insights into User Behavior and Preferences

Riga’s **[Baltic Honeybadger](https://baltichoneybadger.com)** has, since its inception, offered a rare exception in a sea of increasingly diluted “crypto” conferences. Organized by **[Hodl Hodl](https://hodlhodl.com/)**, the event remains singularly focused on **Bitcoin**—uncompromised, unsponsored by altcoins, and uninterested in chasing whatever fleeting narratives occupy the broader blockchain industry in a given year.
## Debifi Steps In - And Stands Firm

Now, with **Debifi** stepping in as the main sponsor for its 2025 edition, the alignment appears both deliberate and overdue.

Founded on the principles of **non-custodial, Bitcoin-backed lending**, Debifi is not just underwriting the event’s budget. It is underwriting the ethos. Built on **multisig escrows** and adamantly rejecting **rehypothecation**, Debifi does not offer financial products that merely wear the Bitcoin badge. It builds on Bitcoin in the way that matters—preserving sovereignty, not eroding it.
## More Than Marketing—It’s Conviction
To some, this is a marketing decision. To others, a statement. According to **Debifi CEO Max Kei**, it’s decidedly the latter:

> “Baltic Honeybadger is one of the few events that hasn’t sold out. That matters to us. Supporting it is not a branding exercise - it’s a way to stand with the part of this community that still believes in Bitcoin as it was meant to be: sovereign, secure, and non-negotiable.”
## The Last Stand for Uncompromised Bitcoin

For **Hodl Hodl**, the sentiment is mutual. CEO **Anna** remarked:

> “We share a strong relationship with Debifi. Much like Baltic Honeybadger, this product is built by Bitcoiners, for Bitcoiners. Their decision to take the lead this year goes far beyond financial support - it’s a statement of conviction.”

In a time when digital asset events routinely bend to VC dollars and shapeshift to remain palatable to the broadest possible crowd, **Baltic Honeybadger** remains an outlier. And perhaps that’s the point.

Scheduled for **August 9–10, 2025**, in Riga, Latvia, Baltic Honeybadger continues to offer one of the few remaining spaces where Bitcoin isn’t the warm-up act or the afterthought. It is the main stage.
Learn more at [baltichoneybadger.com](https://baltichoneybadger.com)



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