French asset management firm Melanion Capital has announced the launch of Europe's first private Bitcoin treasury model, known as BTOC. The firm plans to raise €50 million to be fully allocated to Bitcoin, aiming to build its own treasury and provide a reference framework for other private enterprises. Melanion Capital highlights that the private structure offers greater flexibility compared to public company models, allowing for better liquidity management and structured allocation amid market volatility. Previously, in 2021, Melanion Capital issued Europe's first Bitcoin stock UCITS ETF.