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Publicly Traded Semler Scientific Buys More Bitcoin as Law Firm Targets Company

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In brief

  • A law firm has opened up an investigation into Semler Scientific’s compliance with securities laws and other business practices.
  • Bragar Eagel & Squire urged Semler’s shareholders who have “suffered losses” to contact its lawyers.
  • Semler disclosed another $50 million Bitcoin buy this week, bringing its BTC stash to $466 million worth.

A U.S. law firm is considering potential legal claims against Nasdaq-listed healthcare technology firm Semler Scientific, on behalf of the Bitcoin-holding company’s shareholders—though it hasn’t stopped Semler from buying up BTC.

Bragar Eagel & Squire, P.C. on Thursday said it is looking into whether Semler Scientific violated federal securities laws or engaged in other unlawful business practices. In a statement, the law firm urged Semler’s shareholders to contact its lawyers in relation to the investigation.

The medical device company revealed in February that the U.S. Department of Justice might file a legal complaint against its business.

$SMLR acquires 455 #Bitcoins for $50 million and has generated BTC Yield of 25.8% YTD. Now holding 4,264 $BTC. Flywheel in motion. 🚀

— Eric Semler (@SemlerEric) May 23, 2025

The DOJ opened an initial civil investigation into Semler’s reimbursement claims, or requests to be reimbursed for certain business expenses related to its QuantaFlo device, in 2017. The federal agency also sent several follow-up requests to Semler in 2019, 2021, 2022, and 2023. And, more recently, the two parties tried and failed to settle the matter.

It isn’t immediately clear whether the potential upcoming Justice Department legal complaint would go beyond the breadth of the agency’s initial inquiry into Semler Scientific’s business practices.



Neither Semler Scientific nor Bragar Eagel & Squire immediately replied to Decrypt’s request for comment. 

Semler Scientific shares were trading at $44.20 on Friday, down 1.6% over the past 24 hours. Semler, which has pivoted its focus to become a Bitcoin treasury, has rallied following a rough patch for the company’s stock following the announcement of the DOJ investigation.

The company recently bought another $50 million worth of Bitcoin, as announced Friday, bringing its total holdings to 4,264 tokens, worth roughly $466 million based on current prices.

Bitcoin was recently trading at $108,915, down 2.5% over the past 24 hours but up 16% during the past month, according to CoinGecko data.

Edited by James Rubin

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XRP Targets $3 Following Major Developments
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XRP Targets $3 Following Major Developments

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  • XRP eyes major breakout 
  • Spot XRP ETF possible soon?

As the broad crypto market continues to show bullish signals, XRP is one of the major cryptocurrencies investors are most optimistic about. Recent metrics suggest that the coin might be on the verge of a major breakout to the much anticipated $3.

XRP eyes major breakout 

Amid the ongoing crypto market rally,  the Ripple ecosystem has seen major developments which has fuelled more speculations among market participants. This has posed the price of Ripple’s native token, XRP for a massive upsurge this season.

While Ripple has garnered more investors’ interests since its regulatory clarity with SEC, the recent launch of XRP futures on CME and the first 1x U.S.-based XRP futures ETF by Volatility Shares has positioned the token for more adoption.

Recent reports reveal that the 1x U.S.-based XRP futures ETF had commenced trading on the Nasdaq exchange on May 22, 2025. The move seeks to offer investors the opportunity to seamlessly execute XRP futures contracts, while gaining regulated exposure to the third leading cryptocurrency by market capitalization, XRP.

Although the price of XRP is yet to respond to the launch of these major developments, investors are highly confident that the moves are preparing XRP for a massive breakout soon.

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As of May 22, XRP has traded on the green zone, with its price surging decently by 1.67% over the last 24 hours. This has seen the price trade at $2.43 as of press time.

Notably, XRP’s trading volume has remained in the red with less major activities from bullish and bearish investors. This has seen the token consolidate around $2.1.

While XRP has traded resiliently around $2.43 in the past few hours, it appears that the token has slowed down on its upsurge while gathering momentum to fuel its breakout beyond the $3 mark.

Spot XRP ETF possible soon?

The recent developments experience within the XRP ecosystem has raised hopes among its community members about the possibilities of the long proposed spot XRP ETF getting approval from the U.S. SEC in no time.

While this was the case for Bitcoin and Ethereum, investors have expressed confidence that the launch of XRP futures ETF will pave the way for the approval of a spot XRP ETF. 

This has also fueled optimism about XRP’s price breaking out beyond $3.



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VanEck’s new fund targets real-world utility in Avalanche ecosystem
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VanEck’s new fund targets real-world utility in Avalanche ecosystem

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Asset manager VanEck is launching a long-term digital assets fund focused on Avalanche to back real businesses over hype-driven tokens.

VanEck said Tuesday it will launch the PurposeBuilt Fund in June to invest in tokenized businesses building on Avalanche (AVAX) and focused on long-term value and utility.

In a press release shared with crypto.news, the New York-headquartered asset manager said the fund will back liquid tokens and venture-backed crypto projects in sectors such as gaming, payments, AI, and financial services — primarily around or after a token generation event. The fund will also deploy idle capital on-chain through Avalanche-native real-world asset products, such as tokenized money market funds.

Pranav Kanade, portfolio manager of the VanEck Digital Assets Alpha Fund, said the fund won’t chase hype or short-term trends, as the next wave of value in “crypto will come from real businesses, not more infrastructure.”

“Avalanche has become a magnet for thoughtful builders, and with the VanEck PurposeBuilt Fund, we’re bringing capital and conviction to the founders creating lasting value, not chasing momentum.”

Pranav Kanade

The new vehicle will be managed by the team behind the VanEck Digital Assets Alpha Fund, which has over $100 million in assets under management and launched in 2022.

The announcement comes amid growing institutional interest in Avalanche, with Grayscale recently filing to convert its Avalanche Trust, launched in August 2024, into a spot exchange-traded fund. In late March, the firm submitted a 19b-4 filing to Nasdaq to list the fund and offer regulated exposure to AVAX, though it still requires SEC approval.



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