Swan Bitcoin has launched Real Bitcoin Exchange (RBX), a service enabling investors to convert Bitcoin ETF holdings into direct Bitcoin ownership whilst seeking tax-efficient outcomes. The platform targets investors with significant ETF positions who want actual Bitcoin ownership rather than mere price exposure. RBX is structured to support in-kind exchange treatment, allowing investors to hold real, on-chain Bitcoin through Swan's institutional-grade custody or self-custody options. The service helps investors avoid ongoing ETF management fees and positions them for Bitcoin-native use cases including direct transfer and treasury holdings. US spot Bitcoin ETFs currently hold over $100 billion in assets as of May 2026. Swan Bitcoin, based in Calabasas, California, provides Bitcoin wealth management services for families and businesses, offering purchase capabilities, tax-advantaged retirement accounts and custody options.

Swan Bitcoin drops federal lawsuit against Proton after UK court concession kills its core claims. 2026-06-01 12:32:10 A federal judge dismissed Swan Bitcoin's entire lawsuit against Proton Management Ltd. and its employees on June 1, 2026, after Swan admitted in parallel UK proceedings that it never owned the mining assets and trade secrets at the center of its claims. * Key Takeaways: * * A federal judge dismissed Swan Bitcoin's entire lawsuit against Proton Management on June 1, 2026, ending 18 months of litigation. * * Swan admitted in UK proceedings that it never owned the mining trade secrets it claimed, permanently barring it from refiling those claims. * * Proton, represented by Bergeson LLP and Goodwin, said it remains focused on mining operations after the full dismissal. Case collapses on its own premise. Swan filed the original suit in California federal court after several executives and consultants left the company amid what court filings describe as significant operational and financial strain. Swan alleged misappropriation of proprietary assets tied to its bitcoin mining operations. Proton denied the claims from the start. Defense attorneys argued that Swan never operated an independent mining business of its own. The operations in question, they said, were connected to a separate Tether-funded entity commonly referenced as 2040 Energy, not Swan itself. That argument held. In related UK litigation, Swan conceded it does not own any of the alleged proprietary assets, documents, or trade secrets that formed the basis of the California case. Attorneys call it a clear vindication. Adam Trigg, partner at Bergeson LLP, said the outcome confirmed what his team argued from the beginning. "Swan was forced to admit this crucial fact and dismiss its own case," Trigg said. Amanda Russo, partner at Goodwin, called the dismissal a significant victory. "Swan's case has finally been dismissed from a forum it never belonged in the first place," she said. Matthew Kanny, also a partner at Goodwin, noted the defense had already defeated Swan's requests for a temporary restraining order and expedited discovery before the full dismissal came through. Permanent bar on refiling. Proton stated that Swan is now permanently prohibited from pursuing these specific trade secrets claims in any venue, based on the concessions made in the UK proceedings. The company disclosed that it expects any future claims Swan might attempt to file to reach the same outcome. Swan has not publicly issued a statement on the dismissal. Proton said it has addressed these matters through the courts and remains focused on its mining operations and growth strategy. 18 months of litigation. The lawsuit has been active since late 2024. Proton characterized the suit as retaliatory, filed after its personnel departed Swan during a period of internal financial difficulty. The California federal court dismissal on June 1 closes that chapter. The case drew attention partly due to the Tether connection, with the underlying mining operations linked to a Tether-funded structure rather than Swan's own balance sheet. That detail proved decisive. For bitcoin miners, operators, and investors tracking corporate disputes in the space, the outcome signals that trade secrets claims without clear ownership documentation face real structural risk in federal court. Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

Swan CEO: retail investors drive Bitcoin demand despite ETF boom, cuts 2026 ATH odds to 20-25%. 2026-05-31 23:21:54 According to Cory Klippsten, chief executive of Swan Bitcoin, speaking at Bitcoin Vegas 2026, retail investors remain the primary source of underlying Bitcoin demand even as institutional spot ETFs absorb headline flows. Klippsten emphasized that ETF buyers ultimately represent individual accounts acquiring real BTC exposure through institutional wrappers, rather than institutional ownership of Bitcoin directly. US spot Bitcoin ETFs have recorded $2.9 billion in net outflows since May 15, per Farside Investors data. Bitcoin has declined approximately 9.5% over the same period, trading near $73,630 at publication. Klippsten also revised his probability of Bitcoin reaching a new all-time high in 2026 to 20% to 25%, down from roughly 50% when the asset traded near $95,000 earlier in the year. Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer. In-Depth Analysis