São Paulo–listed OranjeBTC just closed the books on a capital plan that started in May. In an August 3 market update, the firm (B3: OBTC3; ADR ORNJY) said it added 30 BTC in the week, lifting the corporate treasury to 3,948 BTC, and framed that step as the end of the initial allocation cycle launched alongside an Itaú debenture program. Across the full cycle the company says it bought more than 400 BTC and repurchased more than 8.5 million shares, always aimed at raising Bitcoin per share.
What the May cycle actually did
This is the next chapter after our July 26 installment, when the stack still sat at 3,912 BTC and the headline tool was a private buyback (3,926,667 shares at R$4.05, about R$15.9 million at 0.65× mNAV). The August 3 post moves the coin count again: +30 BTC to 3,948. BitcoinTreasuries.net shows the same 3,948 BTC balance as of that disclosure and ranks the firm about #23 among public companies globally, still first among Latin American corporates.
Company-reported “gross BTC yield” for the week was 0.77%, with third-quarter gross yield at 4.10% and year-to-date at 17.46%. Those figures are OranjeBTC’s own scoreboard for how Bitcoin-per-share grows from treasury buys and share reduction. They are not a cash interest rate and not a forecast of future returns. The dual playbook is the same one the firm has been running all year: buy coins when stacking is efficient, buy back stock when the equity is the cheaper path to more BTC per share.
For Brazilian investors, OBTC3 remains a regulated B3 equity wrapper around a pure-play corporate Bitcoin reserve, with Portuguese market notices and a public Bitcoin-per-share target. That is a different product shape from a U.S. spot ETF share, even when both are buying the same underlying asset.
The tape OranjeBTC is writing against
While the corporate channel posts weekly, the U.S. wrapper channel just finished its strongest stretch of the young month. Farside Investors logged five straight creation days from August 3 through August 7: +$170.1M, +$211.5M, +$244.4M, +$137.6M, and +$101.7M, about $865.3 million of net share demand for the week. Lifetime net creations across the complex sit near $52.2 billion on the same table. Monday, August 10, is the first cash session that can extend or cut that streak; the product table is still blank for today.
Spot held the mid-$64Ks through the quiet weekend and is sitting right on top of Sunday’s settle into the reopen. Crypto.com 1D settles show Friday at $64,927.10, Saturday at $64,957.80, and Sunday at $64,897.49. As of about 13:18 UTC on August 10, BTC/USDT last traded near $64,936 on Crypto.com Exchange. That Monday mark is intraday on a still-forming daily candle, not a settled close. The Monday candle has ranged $64,819–$65,396 so far, with the high printed in the 01:00 UTC hour. Ethereum last near $1,910 at the same snapshot, essentially level with Sunday’s settle at $1,910.78.
The Crypto Fear & Greed Index reads 30 (Fear) on August 10, a one-point ease from Sunday’s 31. Mood has thawed from mid-week Extreme Fear prints at 25, but it still sits in Fear while price rebuilt from the low-$63Ks into the mid-$64Ks and early Monday’s low-$65Ks.
Chart: five green flow days, then the Monday open
The series pairs settled daily closes (and Monday’s still-forming candle) with Fear & Greed. Price climbed through the five green ETF sessions, flattened over the weekend just under $65,000, and is holding right at Sunday’s settle into Monday’s cash open.
BTC price vs the Crypto Fear & Greed Index, August 3–10. The August 10 point is an intraday read as of ~13:18 UTC, not a settled close. Sources: Crypto.com Exchange 1D candles and alternative.me.
Two demand channels, two clocks. U.S. ETF creations move with global risk appetite on cash days and just printed about $865 million of net demand in five sessions. A Brazilian public company finishing a multi-month capital cycle at 3,948 BTC is managing capital structure and Bitcoin-per-share on a B3 disclosure calendar. Neither print forecasts the other.
Takeaway
OranjeBTC’s latest chapter is a cycle close: +30 BTC to 3,948, company-reported gross BTC yield of 0.77% for the week and 17.46% year to date, and a May-to-August package the firm describes as more than 400 BTC purchased plus more than 8.5 million shares retired. Spot opens the new cash week near $64.9K after a five-day U.S. ETF creation run of about $865 million, with Fear still at 30 and today’s Farside line still unwritten.
This is a description of disclosed corporate actions and market prints, not a recommendation to buy or sell OBTC3, Bitcoin, or any ETF. Treasury policies can change, and primary-market flow revises.
