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By James Van Straten, AI Boost|Edited by Parikshit Mishra
Jun 2, 2025, 9:32 a.m.
- Major U.S. and international firms embraced crypto balance sheets like never before.
- Regulatory green lights, acquisitions, and new crypto-fintech hybrids are paving the way for deeper market integration.
Travis Kling of Ikigai Asset Management shared his May highlights for bitcoin
and broader crypto ecosystem, underscoring the remarkable scale of institutional adoption throughout the month.
May was a blockbuster month for the crypto sector, headlined by unprecedented institutional investment, key legal developments, and heightened adoption by both private and public entities.
STORY CONTINUES BELOW
Bitcoin
reached new all-time highs of $112,000 as corporate giants like Strategy (MSTR)purchased $2.7 billionworth of BTC in four tranches, while BTC spot ETFs absorbed $5.2 billion in inflows reflecting rising mainstream demand.
Companies such as Trump Media & Technology Group and Twenty One Capital joined the wave, committing billions collectively to bitcoin treasury strategies. Notably, David Bailey’s Nakamoto Holdings raised $710 million to pursue a similar strategy following a reverse merger.
Public firms like SharpLink Gaming and VivoPower announced significant private placements to launch Ethereum and XRP treasury strategies, signaling diversification beyond Bitcoin.
At the state level, New Hampshire and Arizona became the first to pass strategic bitcoin reserve bills, underlining growing political endorsement. Regulatory clarity advanced, with the GENIUS Stablecoin Bill moving forward in the Senate, the SEC confirming that staking isn’t a security, and the OCC affirming that U.S. banks can legally buy, sell, and custody Bitcoin.
Coinbase’s $2.9 billion acquisition of Deribit strengthened its derivatives position, even amid a major user data breach. Kraken’s move to launch tokenized stocks on Solana and the SUI network’s $200 million Cetus protocol funding further showcased Web3 innovation.
Meanwhile, international players like Japan’s Metaplanet and France’s “The Blockchain Group” raised hundreds of millions to build bitcoin positions. The Nasdaq rose 9%, just 4% off its own ATH, indicating strong risk appetite across markets.
Stripe’s move to integrate stablecoin accounts capped off a month of acceleration, institutionalization, and structural maturation for crypto markets.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
James Van Straten is a Senior Analyst at CoinDesk, specializing in Bitcoin and its interplay with the macroeconomic environment. Previously, James worked as a Research Analyst at Saidler & Co., a Swiss hedge fund, where he developed expertise in on-chain analytics. His work focuses on monitoring flows to analyze Bitcoin’s role within the broader financial system.
In addition to his professional endeavors, James serves as an advisor to Coinsilium, a UK publicly traded company, where he provides guidance on their Bitcoin treasury strategy. He also holds investments in Bitcoin and Strategy (MSTR).
“AI Boost” indicates a generative text tool, typically an AI chatbot, contributed to the article. In each and every case, the article was edited, fact-checked and published by a human. Read more about CoinDesk’s AI Policy.
