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According to CoinDesk, VanEck released a report stating that Bitcoin mining companies face a short-term funding gap of about $50 billion as they transition to AI infrastructure, with long-term capital needs of approximately $221 billion. Analysts indicate that the market focus is shifting from contract signing to execution risk, as the industry has only delivered about 25% of the leased AI and high-performance computing capacity, and companies that miss construction milestones face "structural downgrades" from investors.Bitcoin mining companies are turning to AI infrastructure due to declining mining profitability, with Core Scientific signing multi-billion dollar hosting agreements with CoreWeave, and companies like TeraWulf, Hut 8, Iren, and Cipher also announcing AI and high-performance computing plans. VanEck points out that the clearest valuation metric currently is the available operational power infrastructure, with companies that have signed AI leases valued at more than 10 times their operational power. The report suggests that HIV E, Bitdeer, Keel, and IREN have potential upside, while MARA, CLSK, and RIOT remain more closely tied to Bitcoin prices.

According to SoSoValue data, yesterday (Eastern Time June 5), the total net outflow of Bitcoin spot ETFs was $326 million.The Bitcoin spot ETF with the highest net inflow yesterday was the Morgan Stanley ETF MSBT, with a net inflow of $4.2773 million for the day, and the historical total net inflow of MSBT has reached $268 million.Next was the VanEck ETF HODL, with a net inflow of $4.2190 million for the day, and the historical total net inflow of HODL has reached $1.151 billion.The Bitcoin spot ETF with the highest net outflow yesterday was the Blackrock ETF IBIT, with a net outflow of $214 million for the day, and the historical total net inflow of IBIT has reached $62.47 billion.As of the time of publication, the total net asset value of Bitcoin spot ETFs is $75.115 billion, with an ETF net asset ratio (market value compared to total Bitcoin market value) of 6.08%, and the historical cumulative net inflow has reached $53.94 billion.

According to The Block, asset management company VanEck officially launched the VanEck BNB ETF (ticker: VBNB) on Thursday, becoming the first exchange-traded product in the United States to offer spot exposure to BNB. VBNB is backed by physical BNB held in a cold wallet at Anchorage Digital Bank, with a management fee of 0.39%, and currently does not support staking functionality.

The tokenized U.S. Treasury fund VBILL under VanEck has officially launched on the DeFi lending protocol Euler. The fund is issued and tokenized by Securitize, allowing investors to use tokenized U.S. Treasuries as collateral for on-chain lending and liquidity operations, while also meeting compliance requirements. This move reflects that DeFi protocols are accelerating their transformation towards institutionalization and compliance to attract traditional financial capital into the on-chain market.Data shows that the scale of tokenized U.S. Treasuries has surpassed $15 billion, growing approximately 150% over the past year. Traditional asset management giants such as BlackRock, Franklin Templeton, and Janus Henderson have all launched on-chain Treasury or money market products. Euler has previously integrated Securitize's DS Protocol to support the access of tokenized securities with investor qualification restrictions and transfer rules to the lending market. DeFi protocols like Aave are also laying out institutional-level RWA business. Institutions expect that the asset tokenization market could reach $18.9 trillion by 2033. Securitize executives stated that as traditional financial institutions enter the crypto space, DeFi protocols must find a balance between openness and compliance requirements.

According to Cointelegraph, VanEck CEO Jan Van Eck stated that he remains optimistic about Bitcoin in the long term, but warned that 2026 is historically a down year in the four-year halving cycle. He noted that institutional adoption has fundamentally remained unchanged, lacking catalysts for significant price increases.

VanEck analyst Matthew Sigel, whose managed assets total $200 billion, stated that the digital credit market could expand to $2.5 trillion in the next decade, while the price of BTC is expected to reach $1 million. Matthew Sigel noted that this goal is "absolutely within reach."

According to The Block, VanEck submitted its fifth amendment to the registration statement for its BNB ETF to the U.S. Securities and Exchange Commission on Friday (May 15), while Grayscale also submitted its second amendment to the Grayscale BNB ETF prospectus on the same day.Bloomberg ETF analyst James Seyffart stated that the simultaneous actions by both parties indicate that the issuers are responding to feedback from the U.S. SEC and may be planning to launch soon. James Seyffart speculated that BNB could be the next cryptocurrency asset to pass SEC review and is expected to be listed in the U.S.Meanwhile, Canary Capital separately submitted an amendment to its staking TRX ETF proposal, which will package Tron’s staking yields into a regulated framework.

Matthew Sigel, the head of digital asset research at VanEck, stated in an interview with CNBC that he expects Bitcoin to reach its historical high again within the next 12 months. He pointed out that the current correlation between BTC and the Nasdaq is close to a five-year high, and the resilience of the U.S. stock market has driven this round of rebound. However, the derivatives market still lacks significant optimism, with the futures and options markets reflecting more short covering and hedging demand. Therefore, from a contrarian perspective, there may still be room for the market to continue.Matthew Sigel also mentioned that this year, a central bank has announced it will include Bitcoin in its foreign exchange reserves, which means BTC is gradually turning into a global asset used for large cross-border transaction settlements. He believes this is a major trend. In terms of investment direction, he is more optimistic about the increase in Bitcoin's market share and Bitcoin mining companies benefiting from the trend of AI integration. He stated that mining companies are becoming important beneficiaries of AI infrastructure, and as AI business grows, the pressure on mining companies to sell BTC for fundraising is decreasing. Additionally, Matthew Sigel believes that if the CLARITY Act is passed, it could reignite sentiment in the altcoin market, but currently, institutional investors remain cautious about most altcoins due to regulatory and investor protection issues.

Matthew Sigel, head of digital asset research at VanEck, stated that the price of Bitcoin is expected to reach $1 million in the next 5 years.He likened the adoption path of Bitcoin to video games: gradually moving from early niche groups to widespread popularity, especially optimistic about the continued increase in allocation by young investors. However, this prediction is still considered aggressive compared to the current price of about $80,000, and similar optimistic views in the market also largely come from institutions with holdings.

VanEck analysts Matthew Sigel and Patrick Bush wrote an analysis stating that Bitcoin has shown two historically bullish signals: negative funding rates and a decline in hash rate concentration, while volatility has cooled down.As tensions between the U.S. and Iran eased, Bitcoin's realized volatility dropped from 56% to 41%, while the 7-day average funding rate turned negative to -1.8%, marking the lowest level since 2023.Historically, negative funding rates typically indicate strong future returns: since 2020, the average 30-day return for Bitcoin during periods of negative funding rates has been +11.5%, compared to an overall return of +4.5%, with a hit rate as high as 77%. Funding rates below -5% have brought a +19.4% return over a 30-day period.Additionally, hash rate has fallen to the 16th percentile in the past 30 days, marking the most concentrated decline since the mining ban in 2021. In the last 7 instances of hash rate decline, Bitcoin's price increased 6 times after 90 days, with a median increase of +37.7%.

VanEck's Preferred Securities ex Financials ETF (PFXF) disclosed the purchase of 1.27 million shares of Strategy's perpetual preferred stock Stretch STRC, valued at $127 million. This accounts for 6% of its net assets in digital credit.

VanEck's research director Matthew Sigel analyzed in a post on the X platform that the current protective demand in the Bitcoin derivatives market has risen to the historical 99th percentile, which is typically seen as a "contrarian buy signal" under extreme risk-averse market sentiment, and he judges that the market is currently suitable for establishing long positions.The VanEck Digital Transformation ETF (NODE), which Matthew Sigel also manages, has risen 27% since its inception, while Bitcoin has fallen 33% during the same period, achieving lower volatility performance through diversified allocation and focusing on profitable sectors. However, he also warns that if the massive capital expenditures in the artificial intelligence (AI) sector do not generate corresponding returns, it could pose substantial pressure on the market, especially in the context of a concentration in S&P 500 constituents.Note: Percentile is a statistical position concept, with the 99th percentile representing a relatively extreme level, and the 50th percentile representing the median level.

Matthew Sigel, Head of Digital Asset Research at VanEck, stated on social media that the average price of Bitcoin dropped by 19% on the 30th, but the spot price has stabilized. Market volatility has significantly decreased, with realized volatility falling from 80% to 50%, and the futures funding rate dropping from 4.1% to 2.7%. On-chain activity has cooled down, with transaction volume decreasing by 31%, daily average fees reducing by 27%, and the distribution speed of long-term holders slowing down.On the miner side, they have largely maintained a "mine and sell" strategy, selling almost all newly issued Bitcoins. Defensive sentiment in the options market has peaked, with the ratio of put/call open interest averaging 0.77, reaching a new high since June 2021; the premium of put options relative to spot trading volume has reached a historical high of 4 basis points.

Asset management company VanEck has partnered with fintech company Basic Capital to incorporate some digital asset ETFs into its corporate 401(k) retirement plan platform, allowing U.S. retirement savers to indirectly invest in crypto assets through exchange-traded funds. VanEck's products include the spot Bitcoin ETF VanEck Bitcoin Trust (HODL) and the Ethereum ETF VanEck Ethereum Trust (ETHV).Previously, the U.S. Department of Labor had withdrawn restrictive guidance on providing crypto investments in 401(k) plans.

Investment management company VanEck's CEO Jan Van Eck stated in an interview with CNBC, "The crypto market is rebounding today, but it is still down over 50% from the peak last October. Regarding Bitcoin, we know two things: the total supply is limited to 21 million; and the halving cycle, where the block reward for Bitcoin miners is halved every four years.Bitcoin has an investment cycle: it rises for three consecutive years, and the fourth year usually sees a significant drop. The year 2026 is precisely this fourth year, so we are in a bear market for cryptocurrencies, more specifically for Bitcoin. Therefore, I think there is no need to overcomplicate things. From what I see, I believe we are bottoming out, which is also a very good sign of recovery."

According to Cointelegraph, Nasdaq has submitted a rule change proposal to list the VanEck JitoSOL ETF. This ETF will directly hold the liquid staking token JitoSOL based on Solana.Brian Smith, chairman of the Jito Foundation, stated that if approved, staking rewards will not be distributed separately but will be reflected in the fund's net asset value. Due to JitoSOL's automatic compounding rewards, each token held by the trust will represent the underlying deposited SOL and the staking earnings accumulated on the Solana network.

VanEck released its on-chain Bitcoin report in mid-February 2026. The report noted, "BTC continues to decline, and market sentiment is weakening: Bitcoin has dropped 29% in the past 30 days, pushing the NUPL (Net Unrealized Profit/Loss) indicator close to the 'anxiety zone' and briefly entering the 'fear zone'.Meanwhile, leverage has completed its reset, and the size of open contracts has fallen back to levels not seen since September 2024. Mid-term holders dominate the distribution, but selling is slowing down: realized selling is still mainly concentrated among those holding for 1 to 5 years, although in the past month, the distribution speed of coins held for over 1 year has noticeably slowed.Miner profit margins are under pressure, and hash rate is contracting: over the past 90 days, the total network hash rate has decreased by about 14%, reflecting tightening mining economics. Historically, similar situations often herald stronger subsequent returns for Bitcoin."

According to SoSoValue data, yesterday (Eastern Time, February 13) the total net inflow for Ethereum spot ETFs was $10.2647 million.The Ethereum spot ETF with the highest single-day net inflow yesterday was Grayscale Ethereum Trust ETF ETH, with a single-day net inflow of $14.5088 million, bringing the total historical net inflow for ETH to $1.709 billion.Next was VanEck ETF ETHV, with a single-day net inflow of $2.9954 million, and the total historical net inflow for ETHV currently stands at $175 million.The Ethereum spot ETF with the highest single-day net outflow yesterday was Blackrock ETF ETHA, with a single-day net outflow of $9.2802 million, and the total historical net inflow for ETHA currently stands at $11.977 billion.As of the time of publication, the total net asset value of Ethereum spot ETFs is $11.719 billion, with an ETF net asset ratio (market value as a percentage of total Ethereum market value) of 4.75%, and the historical cumulative net inflow has reached $11.648 billion.

According to SoSoValue data, yesterday (Eastern Time, February 13) the total net inflow of the SOL spot ETF was $1.5716 million.Among them, the Bitwise Solana Staking ETF (BSOL) had a net inflow of $1.6873 million for the day, with a historical total net inflow of $683 million.The VanEck Solana ETF (VSOL) experienced a net outflow of $554,100 for the day, with a historical total net inflow of $20.2125 million.As of the time of writing, the total net asset value of the SOL spot ETF is $721 million, with a SOL net asset ratio of 1.50%, and the historical cumulative net inflow has reached $875 million.