Today in crypto, New York Stock Exchange (NYSE) parent, Intercontinental Exchange (ICE), doubled down on it’s bet on Polymarket with a fresh $600 million investment, Strategy executives Michael Saylor and Phong Le have revealed that retail investors are the biggest buyers of their Stretch perpetual preferred shares, and Coinbase and Better Home & Finance launched a structure that lets borrowers pledge crypto to fund the cash down payment on a conforming mortgage.
ICE completes new $600 million investment in Polymarket
ICE said Friday it completed a new $600 million direct cash investment in Polymarket, deepening its bet on prediction markets as a new area of growth for exchange operators.
The company also said it expects to purchase up to $40 million of Polymarket securities from existing holders, adding to its previously announced investment commitment made in October 2025.
In that earlier deal, ICE said it would invest up to $2 billion in Polymarket, marking one of the largest institutional moves into the prediction market sector. The latest transaction advances that arrangement, though terms for the new investment, including valuation, were not disclosed.
The deal signals ICE’s intention to expand its exposure to prediction markets, even as the sector faces evolving US regulatory scrutiny. At least 11 states are pursuing legal action against prediction market platforms like Polymarket and Kalshi.
80% of Strategy’s “Stretch” buyers are retail investors
Retail investors are reportedly the largest cohort in Strategy’s high-yield, low-volatility “Stretch” shares, which have been used to buy more than $1 billion worth of Bitcoin this year.
Around 80% of the owners of Strategy’s “Stretch” perpetual preferred shares (STRC) are owned by retail, said Strategy CEO Phong Le on Wednesday.
“Retail investors prefer low-volatility, high-yield digital credit,” he added.
“11% is a big number.”
— Michael Saylor (@saylor) March 26, 2026
“Am I offending you if I call it a money market fund?” - @SullyCNBC
Digital Credit is redefining yield.
Today we discussed Stretch $STRC on @PowerLunch. pic.twitter.com/oirw3PGZBi
The figure suggests that retail investors are still interested in exposure to Bitcoin, even though it is down about 45% from its all-time high.
Strategy’s executive chairman, Michael Saylor, has been stepping up sales and marketing of Stretch following the drop in Bitcoin and company stock, pitching the shares as a way to get exposure to BTC without the volatility.
In March, Strategy used around $1.2 billion from at-the-market sales of STRC to buy Bitcoin, though it switched back to using the sale of common stock in its most recent buy.
Coinbase launches token-backed down payments for Fannie Mae loans
Crypto exchange Coinbase Global has launched a mortgage structure with Better Home & Finance that lets qualified borrowers pledge digital assets held in Coinbase accounts to fund down payments on standard conforming mortgages designed in accordance with Fannie Mae guidelines.
According to Coinbase, the structure enables borrowers to pledge digital assets such as Bitcoin (BTC) or USDC (USDC) as collateral for a separate loan used to fund the down payment, while the primary mortgage remains a standard, Fannie Mae–backed loan. Better will originate and service the mortgages.
When rolled out, the new development could mark a shift in how crypto assets are used in US housing finance, extending their role from qualifying assets in underwriting to a more direct component of mortgage financing.
