Zeta Network Group said it has entered into a securities purchase agreement for approximately $230.8 million through a private placement backed by Bitcoin and SolvBTC, a wrapped Bitcoin token issued by Solv Protocol. The transaction, announced Tuesday, is expected to close on October 16, 2025, subject to customary conditions.
The agreement covers the sale of the company’s Class A ordinary shares and accompanying warrants, each warrant allowing the purchase of one share at an exercise price of $2.55. The combined offering price for each share and warrant is set at $1.70.
Proceeds Payable in Bitcoin and SolvBTC
According to the company, the aggregate proceeds of about $230.8 million will be paid in either Bitcoin or SolvBTC, which maintains a one-to-one backing with Bitcoin held under regulated custody. SolvBTC is part of Solv Protocol’s suite of institutional on-chain financial products designed to integrate traditional capital markets with blockchain-based assets.
Zeta Network said the private placement will bolster its balance sheet and increase its net asset value through exposure to a Bitcoin-backed instrument. The move comes amid broader market volatility, reflecting what the firm described as a disciplined, counter-cyclical treasury management approach consistent with strategies used by other public companies accumulating Bitcoin during downturns.
Strategic Integration of Tokenized Bitcoin Assets
Patrick Ngan, Zeta Network Group’s chief investment officer, said the addition of SolvBTC to the company’s treasury strategy is intended to strengthen its financial position by combining Bitcoin exposure with structured yield-generation. The company did not disclose the expected yield or specific allocation ratio between Bitcoin and SolvBTC.
Ryan Chow, chief executive of Solv Protocol, said the arrangement illustrates how listed entities are exploring tokenized instruments to manage digital assets within regulated frameworks. Solv Protocol’s model allows proof-of-reserves verification on-chain, providing transparency around collateral backing each SolvBTC token.
Zeta Network said this investment also marks the start of a broader collaboration with Solv Protocol to develop compliant frameworks for tokenized Bitcoin participation in public capital markets. The company added that such instruments may offer a pathway for publicly traded firms to hold and deploy Bitcoin productively while meeting corporate governance and reporting standards.
The private placement represents one of the latest efforts by a Nasdaq-listed company to integrate digital assets into its financial structure. If completed as planned, Zeta Network Group will join a small but growing number of public firms seeking to use blockchain-based mechanisms to diversify corporate treasuries.
