Anchorage Digital reportedly accumulated over $1.19 billion in Bitcoin early today.
The development is that federal chartered banks are being prepared to issue the first US-compliant stubcoins under new federal law.
Data from blockchain analytics firm Arkham Intelligence shows that Anchorage Digital has accumulated 10,141 Bitcoins in multiple wallets in just nine hours. The total amount of these Bitcoins is around $1.19 billion.
Anchorage Digital’s latest Bitcoin transaction history snapshot
Once acquired, assets are protected using refrigerated storage and multi-signature wallets, consistent with the reputation of Anchor as a regulated digital asset manager serving banks, asset managers and fintech companies.
Anchorage Eye’s Leadership in Stubcoin Regulations
Bitcoin Buy coincides with Anchorage’s recent move to the regulated Stablecoin space. Last week, the company announced a strategic partnership with Ethena Labs, developer of USDTB and USDE Stablecoins.
The partnership aims to bring USDTBs currently issued offshore to the US market in accordance with the Genius Act, a newly enacted federal law that regulates the issuance of Stablecoin.
As part of the agreement, Anchorage Digital Bank issues USDTB in the US, making it the first Stablecoin with a clear path to regulatory compliance in the US. The move places Anchorage as a key player in pushing facility-grade digital dollar solutions.
Market Context: Bitcoin hits high and then relaxes
The accumulation comes days after Bitcoin surged to an all-time high of $123,091 on July 14th. The price has since cooled slightly, with Bitcoin at $118,000 at the time of writing. Cryptocurrency slipped 0.3% last week, but rose 9.7% last week.
This timing suggests that Anchorage may have acted during market pullbacks, and could leverage the short-term pricing window to achieve long-term profits. Meanwhile, other prominent institutions like Strategy have announced more than $2.46 billion in new investments in BTC.
