Editor's note: After a short period of strong rebound, the crypto market once again fell to the range of US$76,000-79,000. Affected by this, crypto concept stocks generally fell, and leading DAT stocks such as Strategy and Bitmine almost wiped out their gains in the past month. In addition, with the impact of various events and news such as the possibility of the Federal Reserve raising interest rates, South Korea's financial and U.S. stock markets have also experienced a slight correction recently. Compared with the optimistic information mentioned in last week's "Coin Stock Weather Vane", the recent bad news such as the US-Iran situation and Warsh's coming to power have followed one after another. In the short term, the currency stock sector may still need to be stimulated by SpaceX IPO or Anthropic financing news. News worthy of attention at the policy level is that the U.S. SEC may launch a regulatory framework for tokenized stocks as soon as this week, and on-chain securities may once again usher in an explosive period.

More currency and stock market information can be found at MSX.com.

The risk of a U.S. stock correction has increased sharply, and financial giants are betting on the chip sector

Morgan Stanley: The risk of a significant correction in U.S. stocks has increased sharply, with the 10-year U.S. bond yield rising above 4.5%

The "warning line" drawn by Morgan Stanley for U.S. stocks has fallen. Michael Wilson, the bank's chief investment officer and a well-known Wall Street bully, warned that if U.S. bond yields continue to rise and volatility rises, the U.S. stock market will usher in "the first significant correction since the end of March." Michael Wilson said: "If rising long-term yields are accompanied by rising bond volatility, we would expect the first significant correction in stocks since the bottom in late March." Previously, Morgan Stanley marked the 10-year U.S. Treasury yield reaching 4.5% as "the tipping point where yields may pose more significant headwinds to equity valuations."

Buffett and Ray Dalio’s first-quarter position updates: Bet on chip infrastructure, reduce software stocks, and increase concentration

Berkshire increased its position in Alphabet in Q1, established a new position in Delta Air Lines, and liquidated its position in Amazon

According to the first-quarter position report (13F) released by Berkshire Hathaway, Berkshire increased its holdings in Alphabet (GOOGL.O), The New York Times and other stocks in the first quarter. Among them, Alphabet received more than 36 million shares, and its holding ratio increased from 2.04% previously. 5.93%; cleared stocks of Amazon (AMZN.O), Visa (V.N), Mastercard (MA.N), UnitedHealth (UNH.N) and other stocks; reduced holdings of Chevron (CVX.N), Bank of America (BAC.N) and other stocks; built a position in Delta Air Lines (DAL.N), buying 39.8 million shares, with a market value of approximately US$2.65 billion. Overall, the market value of Berkshire’s U.S. stock holdings as of the first quarter was $26.3 billion, compared with $27.4 billion in the previous quarter. During the quarter, approximately US$16 billion of stocks were purchased, approximately US$24 billion of stocks were sold, and the net sales were approximately US$8.15 billion. The number of positions held plummeted from 42 to 29, indicating a significant increase in concentration.

Bridgewater Fund’s U.S. stock holdings in the first quarter were valued at US$22.4 billion, adding to chip stocks and reducing software stocks

Bridgewater Associates, the world's largest hedge fund, released its first-quarter position report on U.S. stocks as of the end of March this year, 13F. The report shows that in the first quarter, Bridgewater Fund established new positions in 214 stocks, increased its positions in 292 stocks, cleared 261 stocks, and reduced its holdings in 487 stocks; it significantly increased its positions in chip stocks such as Nvidia, Broadcom, and Micron Technology, cleared its positions in enterprise software stocks such as Salesforce and ServiceNow, and reduced its position in Adobe. As of the end of the first quarter, the market value of Bridgewater’s U.S. stock holdings was $22.4 billion, compared with $27.4 billion in the previous quarter. Specifically, Bridgewater Fund increased its holdings of 827,800 shares of Nvidia, with its holdings rising to 3.65% from 2.63% at the end of last year; it increased its holdings of 670,000 shares of Broadcom, with its holdings rising to 2.54% from 1.47% at the end of last year; and increased its holdings of 586,000 shares of Micron Technology, with its holdings rising to 2.23% from 0.93% at the end of last year. In addition, Bridgewater Fund opened a position in TSMC for the first time with 1.077 million shares. As of the end of the first quarter, the stock accounted for 1.62% of the portfolio.

Weekly update on cryptocurrency and stock listed companies

Representative companies of BTC Treasury listed companies

The single-week net buying of BTC by listed companies rebounded strongly to US$2.03 billion, a surge of more than 44 times from last week

According to SoSoValue data, as of 8 a.m. ET on May 18, 2026, the total weekly net buying of Bitcoin by global listed companies (excluding mining companies) last week was US$2.03 billion, an increase of 4,403.11% compared to last week.

Strategy (formerly MicroStrategy) announced an investment of US$2.01 billion (an increase of 4,574.4% compared to last week) to purchase 24,869 Bitcoins at a price of US$80,985, bringing the total holdings to 843,738 Bitcoins.

Japanese listed company Metaplanet did not buy Bitcoin last week.

In addition, four other companies purchased Bitcoin last week. Asset management company Strive announced on May 12 that it had purchased 9 Bitcoins without disclosing the specific amount spent, bringing its total holdings to 15,009. The British Bitcoin company The Smarter Web Company announced on May 12 and May 15 that it had invested US$2.84 million to purchase 25 Bitcoins at a price of $81,592.67 and a price of $79,662. 10 Bitcoins, with a total holding of 2,840; French Bitcoin company Capital B announced on May 18 that it had invested US$15.02 million to purchase 192 Bitcoins at a price of $78,205.4, with a total holding of 3,135; Brazilian Bitcoin company OrangeBTC announced on May 18 that it had invested 390,900 USD, purchased 5 Bitcoins at a price of $78,180, bringing the total holding to 3,737 Bitcoins.

As of press time, the total number of Bitcoins held by global listed companies (excluding mining companies) in the statistics is 1,113,841, an increase of 2.37% compared to last week. The current market value is approximately US$86.16 billion, accounting for 5.6% of the circulating market value of Bitcoin.

Strive Q1 increased its holdings of 6,001 Bitcoins, with a net loss of US$265.9 million

Bitcoin treasury company Strive announced its first quarter financial report for 2026 and announced that starting from June 16, 2026, its SATA preferred shares will pay dividends on a daily basis on working days, with an annualized dividend rate of 13%. As of May 12, 2026, Strive’s Bitcoin reserves reached 15,009, including approximately 5,048 Bitcoins obtained through the acquisition of Semler Scientific; the company increased its holdings of 6,001 Bitcoins in the first quarter of 2026, and purchased 1,381 more Bitcoins in the second quarter as of May 12. The financial report showed that Strive’s first quarter GAAP net loss was US$265.9 million, of which approximately US$295.8 million in losses was related to the decline in the fair value of Bitcoin positions.

ETH treasury listed company representative company

Bitmine bought 71,672 ETH in the past week

In the past week, Bitmine bought a total of 71,672 ETH. Bitmine currently holds 5,278,462 ETH, worth $11.56 billion, accounting for 4.37% of the total ETH supply. Its holdings also include 202 Bitcoins, as well as $200 million in Beast Industries shares, $83 million in Eightco Holdings shares, and $685 million in cash.

In addition, Bitmine has staked 4,712,917 ETH, worth $1.03 billion, with annualized staking revenue of $289 million.

Sharplink CEO: The Ethereum treasury company is differentiating from the Strategy model and focusing more on staking returns

Sharplink CEO Joseph Chalom said that Ethereum treasury companies are gradually deviating from the Strategy and Michael Saylor models, focusing more on pledge returns and a simple balance sheet rather than relying on complex financing structures.

Chalom believes that Ethereum treasury companies can earn income directly by holding ETH, so there is no need to use excessive leverage. He also said that only a few Ethereum treasury companies can survive the market downturn.

In addition, it quoted BlackRock CEO Larry Fink’s previous views, describing Ethereum as a “tokenization toll road”, and pointed out that events such as the New York Stock Exchange and Nasdaq’s promotion of 24-hour trading plans, DTCC’s exploration of tokenized collateral, and Bullish’s acquisition of Equiniti will all promote tokenized assets to further enter the traditional financial system.

Chalom predicts that as stablecoins, tokenized assets, DeFi and AI applications continue to expand, Ethereum will gradually follow a different development path from Bitcoin in the future.

Representative company of SOL Treasury listed companies

Solana treasury company Upexi shares fell 8% after the company reported a fiscal third-quarter net loss that increased to $109 million

Shares of Solana treasury firm Upexi fell 8.16% on Tuesday after the company reported that its fiscal third-quarter net loss widened to $109 million, largely due to the decline in the value of its cryptocurrency holdings. The company's filing on Tuesday showed unrealized losses on its digital assets amounting to $92.3 million. The loss came despite a 46% year-over-year increase in total revenue to $4.6 million, driven by cryptocurrency staking revenue.

Upexi’s results show that as of March 31, the company held 2.5 million Solana tokens, worth more than $238 million, making it the second largest corporate treasury after Forward Industries with more than 7 million Solana tokens.

DeFi Development suffered a net loss of US$83.4 million in the first quarter, and SOL holdings per share increased by 108% in one year

Solana treasury firm DeFi Development Corp reported that SOL holdings per share rose 108% over the past year from 0.0322 to 0.0670 despite widening losses in the first quarter. As of May 13, the company held approximately 2.2946 million SOL and equivalents. CEO Joseph Onorati said that the company has achieved growth through strategies such as internal staking, cooperation with Bonk to operate joint verification nodes, and deploying more than 25% of the treasury on the chain. He believes that Strategy's strategy is the starting point rather than the ceiling. The company's revenue in the first quarter was US$2.66 million, a year-on-year increase of 827%; a net loss was US$83.4 million, compared with US$778,000 in the same period last year, mainly due to the decline in SOL prices.

SOL Strategies appoints Jon Matonis as Chairman of the Board

On May 12, SOL Strategies, a Nasdaq-listed Solana ecological treasury company, announced the appointment of Jon Matonis as chairman of the board of directors. Jon Matonis is one of the founding directors of the Bitcoin Foundation and a long-time financial privacy activist with decades of industry experience.

Representative companies of altcoin treasury listed companies

Hyperion DeFi disclosed that HYPE token holdings exceeded 2 million, and Q1 net profit reached US$8.8 million

Hyperion DeFi, a NASDAQ-listed HYPE treasury company, released its first-quarter financial report, disclosing that Q1 net profit reached US$8.8 million, an improvement from the Q4 net loss of US$39.8 million in 2025. It has increased its holdings of approximately 60,000 HYPE tokens since the end of the first quarter. Currently, its holdings of HYPE tokens have exceeded 2 million, and its verification nodes have been entrusted with 10.2 million HYPE tokens. HYPE, ranks among the top six verification nodes, second only to the Hyperliquid Foundation.

In addition, the company holds 1.92 million KNTQ tokens and 10 million HPL tokens.

Bitwise will use part of Hyperliquid ETF management fees to increase its holdings of HYPE tokens

Bitwise Asset Management announced that it will use 10% of its BHYP Hyperliquid ETF management fee income to hold Hyperliquid's native token HYPE on the company's balance sheet, and the relevant HYPE positions will also be pledged.

Bitwise stated that Hyperliquid adopts a "community first" model, and about 99% of the on-chain revenue is used to repurchase and destroy HYPE tokens, so the company decided to hold HYPE simultaneously. Bitwise’s Hyperliquid ETF (ticker: BHYP) was listed on the New York Stock Exchange last Friday, providing investors with Hyperliquid exposure and staking returns.