Strive to merge with Semler Scientific to form “the fastest growing corporate Bitcoin holder”

Meanwhile, Metaplanet made its largest acquisition to date of 5,419 bitcoin.

9/22/25 9:59AM

Vivek Ramaswamy’s Strive, which merged with Asset Entities earlier this month to launch a bitcoin treasury, announced it acquired Semler Scientific in an all-stock deal. Shares of Semler jumped on the announcement.

Tim Kotzman, founder of Bitcoin Treasuries Media, told Sherwood News that the merger ushers in the M&A era of bitcoin treasuries.

“You can mine bitcoin, buy it, or acquire it. I believe M&A will become the primary theme in the DAT [digital asset treasury] space and may become the prevailing activity, with bankruptcies taking a back seat due to the pristine nature of bitcoin as collateral,” he said.

Maja Vujinovic, CEO of FG Nexus, echoed the sentiment, saying that she expects to see more of these mergers as public companies seek both liquidity and legitimacy in the digital asset space.

In the announcement, Strive said it acquired 5,816 bitcoin and noted that the combined company will own over 10,900 bitcoin, which is still not enough to rank in the top 10 of corporate bitcoin treasuries, so it has a lot of room to “become the fastest growing corporate Bitcoin holder.”

Speaking of, bitcoin treasury company Metaplanet has shot up to fifth place on the corporate bitcoin treasury leaderboard with its latest purchase. The Japanese company announced this morning that it acquired 5,419 bitcoin for $632.53 million, its largest acquisition to date.

And not to be forgotten, the largest corporate bitcoin holder, Strategy, announced it acquired 850 bitcoin for $99.7 million.

In other bitcoin treasury news:

Newly launched UK company B HODL started trading on the Aquis Stock Exchange on Monday after raising $20 million for its bitcoin treasury via the issuance of new shares. Major shareholders include Adam Back, inventor of Hashcash and cofounder of Blockstream, with a 25.3% share, according to the announcement.
French company Capital B acquired 551 bitcoin, bringing its total holdings to 2,800 bitcoin.

$1.2B

Yaël Bizouati-Kennedy12/15/25

XRP ETFs have now crossed $1 billion in assets since the funds launched, according to SoSoValue, which shows total assets of $1.18 billion.

In September, the SEC approved generic listing standards, which paved the way for speedier listings and opened the floodgates for these products, and shortly after, Rex-Osprey launched the first spot XRP ETF available in the US.

Canary followed suit in November, launching an ETF trading on the Nasdaq under the ticker XRPC, which saw a record $58.5 million in trading volume on its first day. It’s the largest XRP ETF in the US, with $342 million in assets.

Grayscale, Bitwise, and Franklin Templeton also launched their own XRP ETFs in November. On December 11, 21Shares joined the XRP fund party.

It’s a noteworthy green shoot in the crypto space, as bitcoin and its ETFs have struggled, and XRP itself is down nearly 15% over the past month.

Jake Hanley, managing director and senior portfolio specialist at Teucrium Investment Advisors — which launched the first-ever XRP-based ETF in April, the 2x Long Daily XRP ETF — told Sherwood News that he is not surprised to see this level of interest in the XRP ETFs.

“We have long held that XRP and the Ripple ecosystem present a unique investment case among crypto assets. Crossing the $1 billion mark is yet another signal of the significant vote of confidence investors have in this increasingly important asset and ecosystem,” Hanley said.

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New bitcoin AfterDark ETF will be bitcoin at night, Treasurys by day

Tidal Trust II submitted form N-1A with the SEC to register a bitcoin ETF designed to systemically capture the cryptocurrency’s overnight return profile, a time window that delivered a significant portion of bitcoin’s upside last year.

The Nicholas Bitcoin and Treasuries AfterDark ETF provides long bitcoin exposure during US overnight hours, from the closing bell until the following morning’s market open, when the fund intends to unwind its positions, according to a document filed with the SEC on Tuesday.

To gain that exposure, the ETF may use a number of methods, including bitcoin futures contracts, US-listed ETFs, or exchange-traded options on such bitcoin underlying funds. When the market is open and daytime trading is active, the fund’s portfolio will consist of US Treasury securities and other cash equivalents.

In 2024, most of bitcoin’s gains occurred after-hours, senior Bloomberg ETF analyst Eric Balchunas reported:

We looked at this last year and found most of the gains are in fact after hours. Doesn't mean the ETFs aren't having impact. Some of this is positioning bc of the ETFs etc or derivatives based on flows etc etc. But yeah, bitcoin After Dark ETF could put up better reutrns, we'll… pic.twitter.com/BTpV51cQfl
— Eric Balchunas (@EricBalchunas) December 9, 2025

The AfterDark ETF filing comes as bitcoin crossed $94,000 on Tuesday, rising 4.5% in the last 24 hours. Even though spot bitcoin ETFs saw nearly $60.5 million in outflows on Monday, the investment vehicles have a cumulative net inflow of $57.6 billion, per SoSoValue.

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Bitcoin will “snapback or chop ahead of the Fed” decision

Traders on prediction markets are divided, giving an equal chance that bitcoin drops below $80,000 or rises above $100,000 this year.

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Legendary short seller James Chanos on the problem with Strategy’s business model

The noise has grown louder about Strategy being in trouble, but most experts think Strategy can weather the current bitcoin downturn, though one critic predicts this is “the beginning of the end.”

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Strive to merge with Semler Scientific to form “the fastest growing corporate Bitcoin holder”

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