4E: US government shutdown ends, institutions continue to increase bitcoin holdings

ChainCatcher News, according to 4E's observation, on November 13, the U.S. House of Representatives passed a bill to end the government shutdown with 222 votes in favor and 209 against, marking the end of the short-term political deadlock in the U.S. federal government and providing some support for market sentiment.

In terms of crypto assets, the Q3 2025 financial report released by Ethereum treasury company SharpLink shows that the company's total revenue surged by 1100% year-on-year to approximately $10.8 million, with net profit reaching $104.3 million and earnings per share of $0.62. As of November 9, SharpLink's ETH holdings had increased to 861,251 ETH, with total crypto assets of about $3 billion, demonstrating the significant success of its ETH treasury strategy.

Meanwhile, Brazilian President Lula da Silva has submitted a bill proposing to authorize the liquidation of seized cryptocurrencies before trial in order to weaken the funding chains of criminal factions. This move, together with new regulatory requirements for the crypto industry from the Central Bank of Brazil, marks an important step for the country in combating crime and regulating the market.

In the bitcoin market, the market capitalization of Strategy (MSTR) has fallen below the net asset value of its bitcoin holdings, resulting in a market cap inversion. At the same time, listed companies added 195,000 bitcoins to their holdings in the third quarter, with a total value of about $20.5 billion, continuing the enthusiasm of enterprises for bitcoin as a reserve asset. Since the beginning of 2024, the cumulative increase has exceeded 700,000 bitcoins.

4E Commentary: The recent political stability in the U.S., strengthened regulation in Brazil, and the continued accumulation of bitcoin by listed companies all show that macro policies and institutional behavior have a significant impact on the crypto asset market. In the short term, positive U.S. political developments and institutional demand may continue to support market sentiment.