<ul><li>TLGY Acquisition Corp. aims to acquire ENA tokens from Ethena, instead of Bitcoin, following MicroStrategy's success in equity markets.</li><li>Special purpose acquisition companies (SPACs) and public firms are exploring alternative paths for crypto accumulation, reflecting significant investor appetite for crypto exposure via public equities.</li><li>New ventures are following Michael Saylor's strategy by injecting capital into public firms to purchase crypto assets beyond Bitcoin, such as Ethereum, Solana, and others.</li><li>While the trend of equity-backed crypto accumulation grows, there are risks associated with pivoting to altcoins like Ethereum and Solana, including regulatory risks, inflationary token supply, and limited institutional support.</li></ul>

Firms Race to Buy Crypto Through Public Markets

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