Amazon (AMZN) shareholders are pressing the e-commerce giant to follow in the footsteps of the largest corporate holder of Bitcoin, MicroStrategy (MSTR), and add BTC to its corporate treasury in a bid to boost shareholder value.

The president of El Salvador, Nayib Bukele, has revealed the country’s Bitcoin investments have made a profit of over $300 million, pointing out on social media that the country has over $600 million worth of the cryptocurrency.

Spot Ethereum exchange-traded funds (ETFs) in the U.S. have seen ten straight days of net positive inflows, their longest streak since they were launched back in July of this year.

Top stories in the Crypto Roundup today:

• Amazon's Shareholders Push for Bitcoin Allocation
• El Salvador’s Bitcoin Investments See Unrealized Gains Top $300 Million
• Spot Ethereum ETFs See Longest Inflow Streak Since Launch
• Institutional Trading Activity on CME Surges to New Highs

Amazon's Shareholders Push for Bitcoin Allocation

Amazon (AMZN) shareholders are pressing the e-commerce giant to follow in the footsteps of the largest corporate holder of Bitcoin, MicroStrategy (MSTR), and add BTC to its corporate treasury in a bid to boost shareholder value.

A shareholder proposal shared by conservative think tank the National Center for Public Policy Research (NCPPR) acknowledges that Bitcoin is a volatile asset but adds that corporations “have a responsibility to maximize shareholder value over the long-term as well as the short-term.”

Per the proposal, diversifying the e-commerce giant’s balance sheet with Bitcoin “solves the problem without taking on too much volatility.” It adds that “at a minimum,” Amazon should “evaluate the benefits of holding some, even just 5%, of its assets in Bitcoin.”

It also points out that MicroStrategy’s shares have surged more than 500% this year, significantly outperforming Amazon’s 49% rise and the S&P 500’s 28.6% advance. Bitcoin moved up over 130% this year to briefly top the $100,000 mark.

At the end of the third quarter, Amazon had $585 billion in total assets, of which $88 billion were in cash and cash equivalents. The proposal argues the mix isn’t properly protecting shareholder value, and that the e-commerce giant has a fiduciary duty to look past the short-term volatility of assets like Bitcoin.

The NCPPR submitted a similar proposal last month for Microsoft shareholders to diversify the company’s balance sheet with BTC. A vote on the proposal is scheduled for December 10.

El Salvador’s Bitcoin Investments See Unrealized Gains Top $300 Million

The president of El Salvador, Nayib Bukele, has revealed the country’s Bitcoin investments have made a profit of over $300 million, pointing out on social media that the country has over $600 million worth of the cryptocurrency.

As the price of the flagship cryptocurrency briefly topped the $100,000 mark earlier this month, Bukele posted the value of the country’s portfolio on social media, revealing that it had invested $269 million in a BTC portfolio now worth $603 million, showing an unrealized gain of $333.5 million.

El Salvador was the first country to adopt Bitcoin as legal tender, doing so back in September 2021 when the government also made its first investment in the cryptocurrency by acquiring 200 BTC.

Since then, the country has been buying 1 BTC per day. With data suggesting the country now holds nearly 6,200 BTC purchased at an average price of $44,739.88 per coin.

Spot Ethereum ETFs See Longest Inflow Streak Since Launch

Spot Ethereum exchange-traded funds (ETFs) in the U.S. have seen ten straight days of net positive inflows, their longest streak since they were launched back in July of this year.

According to data from SoSoValue, these funds have added $83.8 million in value on Friday with Fidelity’s FETH seeing $47.9 million in inflows that day. In total, over $992 million were traded, the fourth-highest daily trading volume these funds have seen since their debut.

Excluding the week of the funds' debut, Friday marked the second-highest volume trading day, behind last Wednesday, when nearly $1.1 billion worth of ether was traded. The funds also saw record weekly inflows, with $836.7 million coming in, a figure that marks a 62% rise over the second-highest week’s $515.2 million inflow.

The inflow streak coincides with a recent rally in the price of Ethereum's native currency that has seen ether top $4,000, having risen about 3% over the past twenty-four hours, according to The Block's Ethereum Price Page.

These inflows come as the price of Ether briefly topped the $4,000 mark and after Ethereum marked its highest monthly on-chain volume since December 2021, nearly double the year's lowest volume month, January. 

Institutional Trading Activity on CME Surges to New Highs

Last month, the total derivatives trading volume on the CME hit $245 billion, an 83.7% rise over the previous month and a new all-time high in monthly trading volume. Bitcoin futures on the exchange saw volumes rise 72.2% to $186 billion, while ETH futures rose 122% to $33.5 billion, both recording new highs.

Options volume on the exchange also surged to a record high, recording $6.16 billion, a 154% rise. Bitcoins options volume rose 152% to $5.54 billion, while ETH options rose 176% to $617 billion.

Dig deeper via CCData’s latest Exchange Review report.

State of the Crypto by Top Tier Exchange Volume

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