Zeta Network Group raised $230.8 million through a private share sale, with investors paying in Bitcoin or SolvBTC. Investors will receive Class A ordinary shares and warrants allowing them to buy additional shares later at $2.55 each. Zeta aims to strengthen its balance sheet with Bitcoin-based assets as part of a broader treasury strategy.

Solv Protocol issues SolvBTC, a wrapped Bitcoin-backed token for institutional use in yield and liquidity strategies. Ryan Chow, CEO of Solv Protocol, noted that listed entities are redefining how to hold Bitcoin productively. Zeta Network, a digital infrastructure and fintech company, expects the deal to finalize on Thursday.

BlackRock filed to register a Delaware trust company for a Bitcoin Premium Income ETF. The proposed fund would generate yield by writing covered call options on Bitcoin futures. Coinbase launched a Bitcoin Yield Fund in May, offering institutional investors outside the US exposure to yield on BTC holdings with an annual net return of 4% to 8%.

Bitcoin yield strategies are gaining popularity, with companies finding ways to put Bitcoin to work. Michael Saylor’s strategy of using Bitcoin as a treasury asset is being debated, with some considering proof-of-stake networks like Ethereum or Solana for potentially better long-term returns. Coinbase’s Bitcoin Yield Fund and BlackRock’s proposed Bitcoin Premium Income ETF are examples of the trend.

Read more at Cointelegraph: Zeta Network Raises $230M in Bitcoin-Backed Private Sale