Global Millennial Capital closes IPO fund, Bitwise Asset Management shuts ETFs, Bitget Wallet enables USDC conversion and other Web3 news

Bitwise Asset Management is closing two ETFs, the Bitwise Trendwise BTC/ETH and Treasuries Rotation Strategy ETF and the Bitwise Web3 ETF, due to lack of investor interest, with final trading on May 21 and liquidation proceeds expected by May 29. (📰Sahm)
Global Millennial Capital has closed a $100 million IPO Opportunities Fund targeting overlooked mid-cap tech companies in AI and DeFi, focusing on investments one to three years before IPOs. (📰Cryptonews.net)
The Bitget Wallet Dollar Card allows users to convert USDC to rand for everyday purchases, offering cashback rewards and aiming to link digital assets to local financial infrastructure in Africa. (📰Daily Maverick)
In 2025, nine web3 games have ceased operations or reverted to web2, with significant funding declines impacting studio sustainability, while the average lifespan of web3 gaming projects remains only four months. (📰eGamers.io)