---
schema_version: "secwatch.filing_event.v1"
accession: "0001641172-25-018876"
form_type: "8-K"
ticker: "BTCS"
cik: "0001436229"
company_name: "BTCS Inc."
filed_at: "2025-07-14T23:59:59+00:00"
generated_at: "2026-05-18T06:38:22.866982+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# BTCS borrows additional $10.97M from AAVE; ETH holdings rise 221% to 29,122

## Summary
- Borrowed $10.97M USDT from AAVE (total $15.5M), collateralized by 14,280 ETH (~$42.8M), variable rate ~5.4%.
- Sold 9.6M shares under ATM for net ~$36.7M at avg $3.95/share from May 14 to July 11, 2025.
- Total ETH holdings 29,122 ($87.3M at $3,000/ETH), a 221% increase from year-end 2024.
- Total crypto & cash assets $96.3M; total debt $22.9M (24% debt-to-assets); leverage cap 40% NAV.
- YTD capital raised $62.4M: ATM $39.5M, convertible debt $7.4M, Aave loans $15.5M.

## SEC filing metadata
- accession: 0001641172-25-018876
- form_type: 8-K
- ticker: BTCS
- cik: 0001436229
- company_name: BTCS Inc.
- filed_at: 2025-07-14T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.03, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1436229/000164117225018876/0001641172-25-018876-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1436229/000164117225018876/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001641172-25-018876
- JSON: https://secwatch.observer/filing/0001641172-25-018876.json
- Plain text: https://secwatch.observer/filing/0001641172-25-018876.txt

## Key facts
- Debt Financings
  BTCS Inc. incurred loan of $10.97 million USDT with AAVE at approximately 5.4% per annum.
  - Instrument: loan
  - Principal: $10.97 million USDT
  - Counterparty: AAVE
  - Rate: approximately 5.4% per annum
  - Event: incurrence
  source text: Beginning on July 9, 2025, BTCS Inc. (the “Company”) borrowed an additional $10.97 million USDT from AAVE, a decentralized finance lending protocol, bringing the total borrowings on AAVE to $15.5 million USDT.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1436229/000164117225018876/0001641172-25-018876-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.