Mentioned:
Frank Giustra is one of the biggest investors in the mining business. And now, he’s deepening his bet on a Nasdaq listed company tokenizing gold on the blockchain.
What’s happening:
- Mining billionaire Frank Giustra has added to his position in gold tokenization company Streamex Corp (NASDAQ: STEX) according to new filings made with the United States Securities and Exchange Commission
By the numbers:
- Frank Giustra acquired 128,205 shares in Streamex Corp’s most recent financing round at $3.90 USD per share and also purchased 51,400 shares in Streamex Corp through the open market at prices ranging between $4.64 USD and $4.72 USD per share
- Frank Giustra now owns a total of 17,193,640 common shares in Streamex Corp, which is 12.02% of the company
Why it matters:
- Streamex Corp is one of the first publicly traded companies ever on the Nasdaq focused exclusively on tokenizing gold on the blockchain and holding gold directly as an asset
Going deeper:
- Frank Giustra previously founded royalty and streaming giant Wheatons Precious Metals (NYSE: WPM) and has been both an early investor in Streamex Corp as well as a strategic advisor to the company
- Founder of Osisko Mining (TSX: OSK) Sean Roosen is also a strategic advisor and early investor in Streamex Corp, who previously led the spin out and creation of Osisko Gold Royalties (NYSE: OR) and completed more than a hundred different royalty and streaming agreements
- Streamex Corp just recently made waves when they formed a new partnership with gold lending company Monetary Metals to generate a yield from physical gold bullion holdings and tokenize access to that return on the Solana and Base blockchains for investors to be able to participate in
The intrigue:
- The price of gold has continued to make new all time highs, which has been fuelled by governments beginning to accumulate physical gold bullion to hold directly as an asset and a massive uptick in capital inflows into gold ETFs through the traditional public markets
