Capital B, formerly The Blockchain Group, began trading on Cboe Europe on August 5, 2026, per the company's official Actusnews newsroom. As of August 3, Capital B holds 3,140 BTC, with a BTC Yield of 2.13% year-to-date. Every share Capital B issues to fund BTC purchases dilutes per-share BTC exposure unless Bitcoin's price rises faster than the dilution rate. The shareholder registry update Capital B publishes next will be the data point that settles it. Multiple European Bitcoin treasury vehicles competing for the same institutional capital will compress mNAV premiums and force execution discipline.