[Weekly Web3 News Highlights] BlackRock's Spot Bitcoin ETF assets surpass $70 billion, setting the record for the fastest rise; GameStop plans to issue $1.75 billion in stock to fund Bitcoin purchases; SEC requests Solana ETF issuers to amend their S-1 forms, potential approval within 3-5 weeks.

Weekly Web3 News Highlights by Bitpush:

BlackRock's spot Bitcoin ETF assets exceed $70 billion, setting the record for the fastest growth】

According to news from Bitpush and reported by The Block, BlackRock's Bitcoin spot ETF fund "IBIT" has set a new record. The fund's assets under management (AUM) surpassed $70 billion in just 341 trading days, making it the fastest ETF in history to reach this milestone.

According to Eric Balchunas, a senior ETF analyst at Bloomberg, IBIT's speed is 5 times faster than the previous record holder, the SPDR Gold Trust (GLD), which took 1691 days to reach this scale.

Currently, IBIT leads the peer Bitcoin funds with over $70 billion in AUM, while Fidelity's Bitcoin ETF ranks second with about $31 billion in assets. IBIT has also achieved continuous fund inflows for 34 trading days.

The IBIT fund was launched in January 2024, and by April of the same year, IBIT had held 2.8% of the total Bitcoin supply. BlackRock holds these Bitcoins solely on behalf of its clients.

[GameStop plans to issue $1.75 billion in stock to fund the purchase of Bitcoin]

According to BitPush news, GameStop announced on Wednesday that it will issue $1.75 billion of 0.0% convertible senior notes aimed at raising funds for potential Bitcoin purchases. The company also plans to grant initial purchasers of the notes an option to purchase up to an additional $250 million in principal amount of the notes.

The company stated that it plans to use the net proceeds from this issuance for general corporate purposes, including investments that comply with its latest investment policy and potential acquisitions. As early as March, the company updated its "investment policy" to include Bitcoin as a treasury reserve asset.

GameStop's latest financial report released earlier shows that sales have declined year-on-year, with first-quarter revenue down 17% to $732.4 million, compared to $881.8 million in the same period last year.

[SEC requires Solana ETF issuers to amend S-1 forms, approval may be obtained in 3-5 weeks]

According to reports from Bitu, citing sources familiar with the matter, the SEC has requested that Solana ETF issuers amend their S-1 forms, and approval may be obtained within 3-5 weeks.

[Game Station: Buy 4,710 Bitcoins with cash between May 3 and June 10, 2025]

According to BitPush news, GameStop, a US-listed company with the stock symbol GME.N, announced that it purchased 4,710 bitcoins in cash between May 3 and June 10, 2025.

[U.S. Senate Votes to Pass the GENIUS Act]

According to Bitu news, the U.S. Senate passed legislation regulating stablecoins with a vote of 68 to 30, and a final vote is imminent.

The Senate voted on Wednesday to end debate on the "Guidance and Establishment of a National Stablecoin Innovation Act" (referred to as GENIUS). Ending debate is a procedural move aimed at clearing the way for further discussion. Senator Tim Scott, Chairman of the Senate Banking Committee and one of the co-sponsors of the bill, stated that the legislation represents a significant victory for innovation and national security, highlighting the bipartisan effort involved.

The House has yet to vote on the bill. Both the Senate and the House must reach a consensus on their respective bills. There are differences between the two chambers in how issuers are regulated at the state and federal levels, and there are also disagreements between the two chambers on how to regulate foreign issuers like Tether.

[SEC delays decision on listing applications for Dogecoin, Hedera, and Avalanche ETFs]

According to a report, the U.S. Securities and Exchange Commission has postponed decisions on a series of spot altcoin exchange-traded funds, including the Bitwise Dogecoin ETF, Grayscale Hedera Trust, and VanEck Avalanche ETF. The agency wrote in each filing: "This does not indicate that the Commission has reached any conclusions on the matters involved. Rather, the Commission seeks and encourages interested persons to provide comments on the proposed rule changes."

[Shopify partners with Coinbase and Stripe to promote USDC stablecoin payments]

According to the news from Bitpush, Shopify has partnered with Coinbase and Stripe, as announced in two announcements released on Thursday, to make it easier for merchants to accept payments in Circle's USDC stablecoin.

Stripe stated in a press release: "Shoppers will be able to use their preferred crypto wallets to make payments in USDC on Base. By default, Stripe will allow merchants to receive stablecoin payments in their preferred local currency and deposit them into their bank accounts just like any other payments they receive."

Stripe stated that this service will be available to Shopify merchants in 34 countries/regions. Stripe mentioned that over the past two years, stablecoin payments have settled more than $94 billion. "During this period, monthly payment volume grew from less than $2 billion to over $6.3 billion."

[Trump Media Group Approved by SEC, $2.3 Billion Bitcoin Reserve Plan Officially Effective]

According to Bitpush news, Trump Media & Technology Group (DJT), the operator of the social media platform Truth Social, the streaming platform Truth+, and the fintech brand Truth.Fi, announced on Friday that the Form S-3 registration statement submitted by the company has been approved by the U.S. Securities and Exchange Commission (SEC) and will take effect on June 13, 2025. Subsequently, Trump Media has submitted the corresponding final prospectus to the SEC.

According to the company's previous disclosure of debt and equity agreements reached with approximately 50 investors, the transaction raised about $2.3 billion in funding. Trump Media stated that this is one of the largest Bitcoin reserve programs among publicly listed companies.

The company also stated that the registration statement includes a universal shelf registration aimed at providing greater financing flexibility for the company's future growth strategy. Trump Media currently has no immediate plans to issue any securities through this shelf registration.

[10x Research Founder: If Bitcoin Falls Below the Key Support of $100,000, It May Fall Back into the Broad Consolidation Phase of Last Summer]

According to Bitpush News, Markus Thielen, the founder of 10x Research, pointed out that BTC falling below $106,000 indicates a failed breakout, and traders should wait for more favorable setups before rushing to buy. He emphasized that the $100,000-$101,000 area is a key support level and warned that falling below this area could signal a return to a broader consolidation phase similar to last summer.

[Iran Launches Fourth Wave of Missile Attacks on Israel]

According to Bitu news, Iran has launched a new round of missile attacks against Israel, as reported by the Iranian Fars News Agency. According to Reuters witnesses, a huge explosion was heard in Jerusalem. Ahmad Vahidi, a senior commander of the Islamic Revolutionary Guard Corps of Iran, stated that the operation against Israel is code-named "True Promise 3 operation," and will continue as long as necessary.