K33, a Norway-based digital asset research and brokerage firm, is doubling down on Bitcoin while positioning itself for strategic gains from potential spot altcoin ETF approvals in the U.S.
On June 18, the firm announced a new SEK 85 million ($8.9 million) share issuance to support its goal of acquiring 1,000 BTC—valued at over $105 million at current prices. This move is designed to enhance margins, boost product offerings, and strengthen its position with institutional clients.
Spot Altcoin ETFs: A New Frontier
K33’s Head of Research, Vetle Lunde, said that a wave of new altcoin ETFs—particularly Solana, Litecoin, XRP, and DOGE—could reshape the crypto investment landscape.
“If approved, these ETFs could open up long/short trading strategies, especially as differences emerge in market dynamics between assets like Solana and Litecoin,” Lunde explained.
The SEC has proactively engaged with ETF issuers, encouraging the inclusion of staking features in updated filings—especially for Ethereum and Solana—signaling a more crypto-friendly regulatory stance.
Why Solana May Outperform Litecoin
Lunde pointed to Grayscale’s trust structure as a key ETF launch risk factor. In previous Bitcoin and Ethereum ETF launches, Grayscale’s large holdings created heavy post-launch selling pressure.
- Solana Trust: Holds just 0.1% of SOL supply, never traded at a discount
- Litecoin Trust: Holds 2.65% of LTC supply, often trades at steep discounts
- SOL ETF filings: More diverse, active engagement
- LTC ETF filings: Only two issuers—less market support
“A cleaner ETF setup and lower dilution risk make SOL a better long candidate than LTC,” Lunde noted, suggesting a “Long SOL / Short LTC” trade as a compelling strategy if both ETFs launch together.
Building a Bitcoin-Backed Balance Sheet
As of June 18, K33 has acquired 25 BTC worth $2.6 million, including an additional 5 BTC purchased this week for around $522,000. CEO Torbjørn Bull Jenssen, who personally committed €100,000 to the latest round, said:
“We expect Bitcoin to be the best-performing asset in the coming years. This strategy gives us direct exposure and aligns with our brokerage mission.”
Conclusion: Institutional Playbook in Action
With a clear plan to build a sizable BTC treasury and strategic insights into the upcoming altcoin ETF landscape, K33 is positioning itself at the center of crypto’s next institutional wave. If market conditions align, the firm’s early accumulation and ETF-readiness could prove to be a strong competitive edge.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss