This new investment policy means that the company is making a strategic shift very similar to Strategy’s approach. Meanwhile, BlackRock launched its first Bitcoin ETP in Europe to capitalize on institutional interest with competitive pricing and regulatory clarity across the EU. On the geopolitical front, Donald Trump’s renewed trade war with China is pushing for stronger domestic Bitcoin mining, which may actually benefit US manufacturers like Auradine, especially as they roll out better mining rigs and off-grid solutions to meet rising demand and reduce reliance on Chinese tech. GameStop Turns to Crypto GameStop Corporation, which was once known primarily as a struggling video game retailer turned meme stock sensation, is making headlines yet again. This time, the company is turning heads for stepping into the world of digital assets. The company officially announced plans to invest in Bitcoin and US-dollar-pegged stablecoins, which is a major pivot in its financial strategy. According to a March 25 report by CNBC, GameStop’s board unanimously approved the initiative, which will see a portion of its corporate cash or future debt issuances allocated toward cryptocurrency holdings. This move was confirmed in the company’s fourth-quarter earnings report, which explicitly states that GameStop’s investment policy now permits holdings in certain cryptocurrencies, including Bitcoin and stablecoins. As of Feb. 1, GameStop’s cash reserves stood at over $4.77 billion. This was a huge jump from $921.7 million a year before, and means that GameStop has a great foundation for its digital asset ambitions. The company also posted $1.283 billion in net sales for Q4 and $3.823 billion for fiscal 2024. GameStop's shift towards crypto is very similar to the strategic moves of companies like Strategy, whose Executive Chairman Michael Saylor has been one of Bitcoin’s most vocal corporate advocates. Speculation about GameStop’s crypto interest began in February when CEO Ryan Cohen posted a photo on social media with Saylor. This caused rumors of an imminent Bitcoin acquisition. That buzz has now materialized into concrete action. Just this week, Strategy announced another purchase of 6,911 Bitcoin, which brought its total holdings to 506,137 BTC. GameStop is now also signaling its belief in Bitcoin as a long-term store of value. Strategy controls around 2.4% of Bitcoin’s total supply, and GameStop may be looking to emulate that model as it continues its transformation from a meme-driven retail story into a modern, diversified company with a bold vision for the future. BlackRock Launches Bitcoin ETP in Europe Other companies are also expanding their business with Bitcoin. BlackRock, the world’s largest asset manager, recently expanded its crypto offerings into Europe with the launch of a new Bitcoin exchange-traded product (ETP). The iShares Bitcoin ETP started trading on March 25 across several European stock exchanges, including Xetra, Euronext Amsterdam, and Euronext Paris. This move builds on the success of BlackRock’s iShares Bitcoin Trust ETF in the United States, which attracted $50.7 billion in assets under management and currently accounts for around 2.73% of the total Bitcoin supply. Details about BlackRock’s Bitcoin ETP Despite the ETP’s strong debut, market analysts are cautious about expecting similar explosive demand in Europe. Stephen Wundke , director of strategy and revenue at crypto investment firm Algoz, stated that regulated crypto investment options have been more accessible in Europe than in the US, and Bitcoin is easier to purchase directly. He also believes that while the new ETP provides an avenue for traditional family offices to hold digital gold, the European market likely won’t see $60 billion in inflows any time soon. The ETP trades under different tickers depending on the exchange: IB1T on Xetra and Euronext Paris, and BTCN on Euronext Amsterdam. The product launched with a promotional fee waiver of 10 basis points, reducing the total expense ratio to 0.15% through the end of 2025. This makes BlackRock’s ETP one of the most competitively priced offerings on the market, especially compared to CoinShares’ Physical Bitcoin ETP that charges 0.25%. Wundke thinks that this aggressive pricing strategy is designed to limit competition and test the resolve of potential new entrants, ultimately benefiting investors and the digital asset space by pushing providers to offer better terms. This is BlackRock’s first crypto ETP launch outside of North America. Manuela Sperandeo, BlackRock’s head of Europe and Middle East iShares Product, described the launch as a tipping point for the industry, thanks to growing demand from both retail and institutional investors. Ajay Dhingra , head of research at Unizen, added that BlackRock’s decision reflects its confidence in the European Union’s regulatory framework for crypto assets. Unlike the United States, which has experienced policy inconsistency under different administrations, the EU has steadily pursued a regulated approach to blockchain adoption, offering the regulatory clarity that firms like BlackRock value. Trump’s Trade War Boosts US Bitcoin Miners Amid the renewed trade tensions between the United States and China, President Donald Trump’s push to strengthen domestic Bitcoin mining could greatly benefit US-based mining rig manufacturers. Although the US contributes more than 40% of the global Bitcoin hashrate, it still relies heavily on mining equipment made in China, where Bitmain dominates the market with an estimated 90% share . Industry voices, like Sanjay Gupta , chief strategy officer at Auradine, believe Trump’s focus on boosting the American Bitcoin mining industry proves the urgency of reducing dependence on foreign technology. The friction between the two nations already impacted Bitcoin firms operating in the US. Last year, thousands of mining rigs were reportedly delayed at American ports. This was allegedly due to confusion over their classification as unauthorized Chinese radio frequency devices. These supply chain issues were only exacerbated by escalating trade tensions, which Gupta said have led to growing uncertainty and delays in hardware shipments. While the US has been vying with China to gain an edge in high-end chip manufacturing, these challenges only intensified for American miners. Despite its dominance, Bitmain has begun expanding its footprint into the US to improve supply chain efficiency, and even launched a new production line in December. Auradine, meanwhile, sees an opportunity in Trump’s onshoring agenda. Gupta believes that rising domestic mining could increase pressure on the US electric grid, which means that there is a need for off-grid solutions. His company recently launched the Teraflux AH3880 hydro-cooled Bitcoin miner to compete with major players like Bitmain, MicroBT, and Canaan. On concerns over decentralization, Gupta believes increased US mining could benefit the Bitcoin network, provided that the growth remains aligned with sustainable and decentralized practices. Still, the growing concentration of hash power in the US and China raises some serious questions about long-term balance in the network’s security and distribution.
