Animoca Brands Corporation Ltd co-founder and executive chairman Yat Siu is set to join the planned Strategic Advisory Board of DigitalX Ltd (ASX:DCC) following a successful A$20.7 million strategic placement led by the digital property rights pioneer.
The capital raise, which secured firm commitments from Animoca Brands, UTXO Management, ParaFi Capital and other strategic investors, will support DigitalX’s Bitcoin treasury strategy and broader expansion in the digital assets sector.
Animoca Brands acted as sole advisor on the transaction, initiating the opportunity by identifying DigitalX, facilitating introductions to targeted global digital asset investors, and advising on the placement.
DigitalX is Australia's longest-standing listed digital asset company and manages the country’s first ASX-listed spot Bitcoin exchange-traded fund, the DigitalX Bitcoin ETF (ASX: BTXX). It also develops blockchain-powered products aimed at enhancing investor value.
Yat Siu will provide guidance on the company's treasury strategy and broader Web3 and cryptocurrency market trends through the forthcoming advisory board. He will join existing DigitalX board member Leigh Travers, who serves as the company’s non-executive chair and is also director of emerging markets at Animoca Brands.
“Bitcoin is the reserve asset of Web3 - digital gold. We are excited to expand broader access to Bitcoin in Australia with DigitalX to help empower communities with the tools for digital ownership and financial sovereignty. The partnerships with global heavyweights such as UTXO, ParaFi and others makes DigitalX the premier vehicle for Bitcoin access in Australia,” Siu said.
Pivotal milestone
The funds will primarily support the expansion of DigitalX’s existing Bitcoin treasury, reinforcing its long-term position in Bitcoin as an institutional-grade store of value. Of the proceeds, approximately A$19.7 million will be allocated to acquiring more Bitcoin, with the balance funding offer costs and working capital.
“This strategic investment marks a significant milestone for DigitalX as we continue to focus on Bitcoin as the core of our treasury strategy. The backing of these globally-recognised leaders in the Bitcoin space not only provides the capital to expand our Bitcoin holdings but also provides invaluable strategic expertise and access to their networks. This partnership ensures DigitalX is well-positioned to execute its focused strategy and deliver long-term value for our shareholders,” DigitalX Interim CEO Demetrios Christou.
The Strategic Advisory Board will include Siu and Hervé Larren (CEO, Airvey.io) providing strategic insight, investor access, and support in non-dilutive funding opportunities.
DigitalX currently holds 65 Bitcoin and 881,000 units in its Bitcoin ETF (ASX: BTXX), equating to 193 Bitcoin—together worth approximately A$43.3 million. Post-placement, its digital asset and cash holdings are expected to exceed A$95 million.
Placement terms included an issue price of A$0.074 per share—a 1.5% discount to 15-day VWAP—with one warrant for every two shares, exercisable at A$0.15 within 18 months, pending shareholder approval.
Settlement is anticipated within 10 business days. UTXO Management will also be entitled to nominate a non-executive director, subject to regulatory approvals.