As a blockchain quant analyst from Austin, I’ve traced the subtle shift in BTC accumulation: Sixty Six Capital’s latest ETF purchase of 13.5 BTC brings their total holdings to 145 BTC. This isn’t speculation—it’s structured capital reallocation. The move reflects a deliberate pivot from paper exposure to on-chain sovereignty. I analyze this not as market hype, but as a quiet recalibration of institutional risk models. Here, the data doesn’t lie—its patterns do.

As a blockchain quant analyst, I dissect Figma's S-1 filing revealing their $70M Bitcoin ETF position – a rare corporate crypto play rivaling MicroStrategy. Beyond the 26% unrealized gains, we'll examine how this design unicorn's financial strategy mirrors Web3 treasury trends, why BITB beats holding raw BTC, and what their planned $30M USDC deployment signals about institutional adoption. Spoiler: This isn't your typical SaaS balance sheet.