Week 34 (2026) · BTC Weekly

A Nasdaq-Listed Insurer Closed a Capital Raise Settled Entirely in Bitcoin — No Fiat Involved

On August 17, Zhibao Technology (Nasdaq: ZBAO) — a Shanghai-based digital insurance broker — closed a $154.7 million private placement in which investors delivered 2,380 BTC directly to a company-designated wallet at a $65,000 reference price; the total consideration was paid entirely in Bitcoin under Regulation S, with no fiat conversion at any step. The offering issued 442 million units at $0.35 each, with each unit comprising one Class A ordinary share and a two-year warrant exercisable at $0.35. At closing, the CEO, CFO, and four of the five sitting directors resigned and were replaced by investor appointees — a complete governance reset executed simultaneously with the capital raise. Zhibao enters the corporate Bitcoin holder ranking at 33rd globally, surpassing Core Scientific and Cipher Digital with 2,380 BTC on its balance sheet.

The settlement mechanism — investors transferring Bitcoin on-chain to satisfy the equity purchase price under a U.S. securities exemption — removes the fiat conversion step that all prior public-company Bitcoin treasury acquisitions have retained, establishing a documented structure for BTC-denominated corporate capital raises on U.S. exchanges.

(Decrypt, TFTC)

Bitcoin ETFs Drew $517 Million in a Single Day — Their Strongest Session in Three and a Half Months

U.S. spot Bitcoin ETFs recorded $517.19 million in net inflows on August 19, their largest single-day total since May 4. BlackRock's iShares Bitcoin Trust (IBIT) led with $284.7 million — roughly 55% of the daily total — followed by ARK 21Shares' ARKB at $77.7 million and Fidelity's FBTC at $62.4 million. Eight of the twelve listed funds posted positive flows, signaling broad participation across fund families rather than a single-vehicle event. The session capped three consecutive days of inflows; the three-day running total approached $1 billion, the strongest sustained sequence since April.

Eight funds recording simultaneous positive flows over three consecutive sessions is a distribution pattern — not a single large allocation moving the total — and places the week's inflows among the broadest re-engagements by fund participation count since the ETFs' launch-era cohort ran uniformly positive.

(The Block, CoinDesk)