News Roundup — MicroStrategy to Join Nasdaq 100 on December 23

Major news stories this week;

1. MicroStrategy to join Nasdaq 100 on December 23
2. EU urged to follow El Salvador’s lead with Bitcoin reserves by European MP
3. Trump appoints former college football player Bo Hines to head crypto council
4. MiCA-compliant stablecoins dominate European market — Kaiko
5. Bitwise launches Solana staking ETP in Europe amid US approval delays
   

Story Summaries;

1. MicroStrategy will join the Nasdaq 100 on December 23, replacing Illumina, Super Micro Computer, and Moderna. Boosted by Bitcoin's bull run, its MSTR stock is up 524% YTD, outperforming the S&P 500's 28% gain. As the largest corporate holder of Bitcoin with 439,000 BTC, its inclusion in the Nasdaq 100 will grant it exposure to significant passive investments from ETFs like Invesco's QQQ Trust. Analysts speculate on its potential inclusion in the S&P 500, though profitability requirements pose a challenge.
2. EU lawmaker Sarah Knafo urged the bloc to prioritize a strategic Bitcoin reserve over the ECB’s digital euro, warning that a centralized digital currency risks financial freedom and control. Highlighting El Salvador’s success and Bitcoin’s growing recognition as a strategic asset, Knafo argued it offers a decentralized solution to inflation and poor policies. She called on EU leaders to adopt Bitcoin to strengthen economic resilience and safeguard financial independence.
3. President-elect Donald Trump appointed former GOP House candidate Bo Hines as executive director of the new "Crypto Council" working with AI and crypto czar David Sacks to drive digital asset innovation. Hines, backed by pro-crypto PACs, will focus on fostering industry growth. Trump also named ex-a16z partner Sriram Krishnan as senior AI adviser and tapped other crypto advocates, including Elon Musk, reaffirming his goal to make the U.S. a global crypto leader.
4. A report by Kaiko and Bitvavo reveals that MiCA-compliant stablecoins have dominated Europe’s crypto market in 2024. The introduction of the Markets in Crypto-Assets Regulation (MiCA) has driven this shift, with euro-backed stablecoins like Circle’s EURC, Societe Generale’s EURCV, and Banking Circle’s EURI holding 91% of the market by November. Euro-denominated trading volumes also surged, regularly surpassing $42 billion per month. Despite Tether discontinuing its euro-pegged EURT, stablecoin adoption in Europe remains strong, fueled by the region's evolving regulatory environment.
5. Bitwise has launched a Solana staking exchange-traded product (ETP) in Europe, named BSOL, offering a competitive annual yield of 6.48% and a low management fee of 0.85%. The product, listed on the Frankfurt Stock Exchange’s Xetra platform, allows investors to earn rewards from Solana (SOL) staking while gaining exposure to its price movements. BSOL outperforms European competitors, like 21Shares, which offers lower staking rewards and higher fees. Bitwise is awaiting U.S. approval for its Solana ETF but remains optimistic about regulatory developments in 2025.

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And that’s all for last week’s news! Wishing you a great week ahead!