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ChainCatcher reports, citing Reuters, that Dutch cryptocurrency service provider Amdax has announced plans to launch a Bitcoin wealth management company called AMBTS (Amsterdam Bitcoin Wealth Strategy Company) on the Dutch stock exchange. Amdax CEO Lucas Wensing stated, "Currently, over 10% of the Bitcoin supply is held by corporations, governments, and institutions. We believe now is the right time to establish a Bitcoin wealth company and aim for a listing on Euronext Amsterdam, one of Europe's leading exchanges." Amdax and AMBTS plan to raise funds from a wide range of private investors in the first round of financing. The long-term goal for AMBTS is to eventually hold at least 1% of the total Bitcoin supply, which amounts to 210,000 coins.

According to a report by Jinse Finance, strategists at Goldman Sachs stated that S&P 500 constituent companies have significantly outperformed expectations this earnings season because they found ways to mitigate the impact of tariffs and benefited from a weaker US dollar. As the second-quarter earnings season draws to a close, overall earnings per share for S&P 500 companies have increased by 11% year-on-year, far exceeding the market consensus of 4%. “This quarter has seen one of the most frequent instances of earnings beating expectations in history,” wrote David Kostin, Goldman Sachs’ Chief US Equity Strategist, in the report. US companies have delivered better-than-expected profit margins in the face of tariffs, as they have been able to negotiate with suppliers, adjust supply chains, cut costs, and pass price increases on to consumers. In addition, analysts had sharply lowered earnings forecasts in the spring due to Trump’s tariffs, making it easier for companies to “beat expectations” from a lower base. Goldman Sachs strategists also noted that the weaker US dollar has contributed to faster sales growth in the second quarter.