Schlagwort: crypto business

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Grayscale launches Bitcoin Adopters ETF targeting firms holding BTC as treasury reserve

  • The fund, launched April 30, tracks a diversified group of firms with Bitcoin treasury strategies.
  • Notable constituents include Michael Saylor’s Strategy, mining firm Marathon Digital Holdings (MARA), Tesla and Japanese BTC-focused firm Metaplanet.
  • The launch comes amid a sharp uptick in institutional Bitcoin buying.

Asset manager Grayscale has introduced a new exchange-traded fund—Grayscale Bitcoin Adopters ETF—designed to give investors exposure to companies actively holding Bitcoin on their balance sheets.

The fund, launched April 30, tracks a diversified group of firms with Bitcoin treasury strategies spanning across seven sectors, including mining, automotive, and energy.

Notable constituents include Michael Saylor’s Strategy, mining firm Marathon Digital Holdings (MARA), Tesla, Japanese BTC-focused firm Metaplanet, and aerospace energy player KULR Technology Group.

The ETF reflects the rising corporate trend of adopting Bitcoin as a strategic reserve asset, aiming to hedge against fiat currency inflation and boost shareholder value.

Accelerating corporate demand for BTC

The launch comes amid a sharp uptick in institutional Bitcoin buying.

Fidelity Digital Assets recently reported that public companies have acquired over 30,000 BTC per month in 2025, significantly outstripping supply from miners.

According to Fidelity, Bitcoin’s circulating exchange supply is falling, driven by continuous corporate accumulation.

Michael Saylor’s Strategy remains the largest corporate Bitcoin holder outside of exchanges, and continues its aggressive purchasing.

Bitcoin could hit fresh highs thanks to corporate accumulation

Bitcoin may be poised to reach new highs as corporate accumulation and renewed ETF inflows tighten supply, according to a client note from research and brokerage firm Bernstein on Monday.

Analysts led by Gautam Chhugani said that short-term comparisons between Bitcoin and assets like gold or the Nasdaq can be misleading, and more meaningful indicators include reduced retail selling, growing corporate treasury demand, and strong ETF inflows.

The note follows the announcement of Twenty One Capital, a new Bitcoin corporate treasury venture launched last week by SoftBank, Tether, Bitfinex, and Cantor Fitzgerald, starting with 42,000 BTC.

The venture is backed by $900 million from SoftBank, $1.5 billion from Tether, and $600 million from Bitfinex, with plans to merge with Cantor Equity Partners via a SPAC and raise another $585 million at closing.

Bernstein likened the strategy to that of Strategy, which raised $22 billion in 2024 and $8.6 billion so far in 2025 to expand its Bitcoin holdings.

The analysts noted that corporate accumulation is becoming more competitive, with around 80 companies now holding a combined 700,000 BTC—roughly 3.4% of the total supply.

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Coinbase urges US Supreme Court to rethink digital privacy doctrine

  • The crypto exchange urged the Court to reconsider the “third-party doctrine” as it applies to digital financial data.
  • While Coinbase is not a direct party to the case, the company has a vested interest in how the Court interprets privacy protections.
  • The Supreme Court is expected to decide later this year whether to hear the case.

Coinbase, alongside several states, technology firms, and advocacy groups, is calling on the US Supreme Court to revisit long-standing digital privacy standards that critics say no longer reflect the realities of the internet age.

In an amicus brief filed Wednesday in Harper v. O’Donnell, the crypto exchange urged the Court to reconsider the “third-party doctrine” as it applies to digital financial data.

In 2020, James Harper, a Coinbase user, filed a lawsuit against the IRS, alleging the agency unlawfully obtained information that revealed his identity as a cryptocurrency holder.

Challenge to decades-old legal standard

The third-party doctrine—established through rulings in the 1970s—holds that individuals forfeit their expectation of privacy over data shared with third parties, such as banks or phone companies.

Coinbase argues that this principle, when applied to blockchain and digital assets, grants government agencies sweeping surveillance capabilities without the judicial oversight typically required for such intrusions.

While Coinbase is not a direct party to the case, the company has a vested interest in how the Court interprets privacy protections in the context of financial data stored or processed on its platform.

IRS use of broad summons under scrutiny

The case centers on the Internal Revenue Service’s use of a “John Doe” summons, which allows investigators to compel third parties to disclose data on unnamed individuals.

In 2016, the IRS served such a summons on Coinbase, requesting user data on more than 14,000 customers as part of an effort to identify individuals potentially underreporting crypto gains.

Similar summonses were later issued to Kraken and Circle in 2021.

Unlike traditional summonses, John Doe requests are not tied to specific individuals, but rather seek data on broad swaths of users.

Coinbase contends that this investigative tool, when used in the digital asset space, effectively gives the IRS a “real-time monitor” over user transactions.

Privacy in the Blockchain era

In its brief, Coinbase highlighted the unique characteristics of blockchain technology, which allows observers to trace past and future transactions tied to a wallet address.

This level of visibility, the company argues, amounts to what it calls a “financial ankle monitor.” The brief draws comparisons to Carpenter v. United States (2018), a case in which the Supreme Court ruled that obtaining historical cell phone location data without a warrant violated the Fourth Amendment.

Coinbase contends that the IRS’s ability to reconstruct years of blockchain activity is even more intrusive.

“Exposure of a person’s identity on the blockchain opens a potentially wide window into that person’s financial activity,” the company said, warning of the implications for user privacy and financial freedom.

The Supreme Court is expected to decide later this year whether to hear the case. If accepted, oral arguments would likely be scheduled for the next term.

Coinbase executives, including CEO Brian Armstrong and Chief Legal Officer Paul Grewal, have consistently advocated for updated legal frameworks that reflect the evolving nature of digital finance.

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P2P.org named TRON Super Representative Validator, bringing institutional TRX staking services

  • The move adds TRON to the list of more than 40 networks supported by P2P.org.
  • This opens up new channels for institutional TRX staking on the TRON blockchain.
  • TRON’s Super Representatives are a group of 27 elected validators.

P2P.org, a prominent provider of validation and staking services across several blockchain networks, has been named a Super Representative Validator on the TRON network.

The move adds TRON to the list of more than 40 networks supported by P2P.org and opens a channel for institutional staking of TRX tokens.

TRON’s Super Representatives are 27 elected validators responsible for producing blocks every three seconds, validating transactions, participating in governance, and distributing rewards to voters, playing a central role in the network’s delegated proof-of-stake (DPoS) system.

As a new Super Representative, P2P.org is set to contribute to the resilience of TRON’s infrastructure while offering institutional players direct access to staking opportunities on the network.

“Becoming a TRON Super Representative Validator represents a significant advancement in our validator portfolio,” said Alex Esin, CEO at P2P.org.

“This expansion strengthens our position across more than 40 networks and creates valuable new opportunities for our institutional partners to optimize their TRX holdings with industry-leading staking solutions.”

“With its scalability and minimal transaction costs, TRON has become the blockchain of choice for an increasing number of DeFi platforms focused on institutional adoption,” said Sam Elfarra, Community Spokesperson for the TRON DAO.

“As the builders of a thriving ecosystem with hundreds of institutional clients, we are thrilled to welcome P2P.org as a Super Representative.”

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Onyxcoin price drops 14% as $2 million in liquidations hit XCN traders

  • The MACD indicator shows a bearish crossover, confirming a trend reversal.
  • Next major support lies at $0.0165, with risk of further losses.
  • Recovery is possible if XCN reclaims $0.0187 and retests $0.0214.

Onyxcoin (XCN) has recorded a steep drop of nearly 14% this week, signalling a sharp turn in market sentiment after the altcoin failed to break past a critical resistance level of $0.0214.

The failed breakout attempt, coupled with a bearish technical signal, has ended a six-week upward trend for the token.

At the time of writing, XCN is trading at $0.0182, having slipped below the local support of $0.0187.

Source: CoinMarketCap

This weakness has triggered a cascade of liquidations, putting further pressure on Onyxcoin’s short-term outlook.

The recent downturn follows a period of relative optimism, during which XCN attracted renewed investor attention amid rising on-chain activity.

However, its inability to hold above key price levels suggests growing caution among traders.

Traders liquidated as XCN fails to hold support

The shift in momentum for XCN was first flagged by the MACD (Moving Average Convergence Divergence) indicator, which registered a bearish crossover around 72 hours ago.

This reversal has been confirmed by real-time liquidation data, which shows that nearly $2 million worth of long positions have been liquidated.

That figure represents roughly 16% of the $12 million total open interest for Onyxcoin.

These liquidations are significant given XCN’s relatively low market cap and trading volume compared to major assets.

The size of the liquidations suggests that a sizeable portion of retail traders were caught off guard by the sudden shift, intensifying negative sentiment.

If bearish conditions persist, further liquidations could push the token even lower, as leveraged traders rush to exit their positions.

Technical levels signal more downside for XCN

With XCN now trading below both the $0.0187 local support and the key $0.0214 resistance level, the next major downside target is $0.0165.

This support level is critical for preventing further losses. A decisive breakdown below $0.0165 could lead to a new wave of long position liquidations, extending the current downtrend.

The price failure comes after two attempts in April to reclaim the $0.0214 resistance.

Both were met with rejection, confirming that the level is acting as a strong ceiling in the current market environment.

Until XCN can retest and successfully break above this mark, sentiment is likely to remain bearish.

Recovery hinges on reclaiming $0.0187

There is still a narrow path to recovery. If Onyxcoin can reclaim the $0.0187 level as support and consolidate above it, the token could stage another attempt to challenge the $0.0214 barrier.

A successful breakout above that level would invalidate the current bearish trend and potentially trigger a short-term bullish reversal.

However, broader market sentiment will also play a role. With Bitcoin and Ethereum showing signs of consolidation and risk appetite fluctuating among altcoin investors, Onyxcoin may need more than technical support to stage a rebound.

For now, traders are watching closely to see whether $0.0165 holds, or if further downside is on the cards.

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XRP price rises 8.6% this week as ETF momentum builds

  • Market cap stands at $130 billion as of 30 April.
  • XRP Ledger now handles 3,400+ transactions/sec.
  • Despite positive momentum, economic risks could cap near-term gains.

XRP has rallied 8.63% over the past week, trading at $2.22 as of 30 April 2025, according to CoinMarketCap.

The token’s latest market capitalisation stands at $130.09 billion, with 58.44 billion XRP in circulation and $2.89 billion in 24-hour trading volume.

While XRP is down 3.04% in the past 24 hours, it remains up sharply from its April lows.

The recent momentum is largely attributed to optimism surrounding the launch of XRP futures exchange-traded funds (ETFs), despite the delay of ProShares Trust’s product to 2025.

Analysts say XRP’s recent breakout above its 21-day and 50-day moving averages—combined with the end of a multi-week downtrend—suggests continued strength in the short term.

The current focus is whether XRP can retest 2025 highs and potentially reach $3.40, although macroeconomic uncertainties remain a limiting factor.

Legal win and SEC approval drive sentiment

Ripple’s March 2025 legal victory against the US Securities and Exchange Commission (SEC) has revived investor confidence.

The ruling cleared the path for XRP-based futures ETFs, providing institutional investors with new avenues for exposure.

The surge in XRP follows a similar pattern seen with Bitcoin’s reaction to its spot ETF approvals in early 2024.

Market observers believe XRP could mirror Bitcoin’s post-ETF rally, especially as investor sentiment continues to improve.

XRP’s price strength, even amid broader volatility, reinforces its position as a leading altcoin heading into the second half of 2025.

Trump policies and Fed caution weigh on upside

Despite positive momentum, economic risks could cap near-term gains. President Trump’s expanded tariff programme and renewed trade disputes have fuelled concerns of stubborn inflation.

This, in turn, may keep the US Federal Reserve in a hawkish stance longer than markets would prefer.

These factors increase the likelihood of risk-off behaviour among investors, which could impact high-volatility assets like XRP.

As a result, while some traders have speculated about XRP surging toward $10, this scenario appears unlikely unless broader market conditions shift significantly.

Ripple network and adoption expand

Beyond price action, Ripple’s ecosystem continues to grow. The December 2024 launch of the RLUSD stablecoin has enhanced on-chain liquidity and transaction flexibility.

Upgrades to the XRP Ledger have also boosted transaction speeds, now capable of handling more than 3,400 transactions per second, improving its appeal for institutional use.

The Trump administration’s pro-crypto stance—including the appointment of Paul Atkins as SEC Chair—suggests that regulatory clarity may continue to improve.

In March, Trump identified XRP as a key digital asset that could be included in the US government’s digital stockpile initiative.

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