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Goldman Sachs’ ETF gains Bitcoin exposure via linked ETFs, avoiding direct holdings while tracking price movements.

Covered-call strategy generates income but caps upside gains during strong Bitcoin rallies.

Filing signals rising competition as major firms expand income-focused crypto investment products.

Goldman Sachs filed a prospectus Tuesday with the U.S. Securities and Exchange Commission to launch a Bitcoin-focused income ETF, a new step in its crypto product expansion. The proposed fund would not hold Bitcoin directly. Instead, it aims to provide exposure through existing Bitcoin-linked exchange-traded products while generating income using options strategies.

Fund Structure Shifts 

The filing outlines a structure where at least 80% of net assets will track Bitcoin-linked instruments. These include spot Bitcoin ETFs and derivatives tied to those funds. However, Goldman Sachs avoids holding Bitcoin itself, placing the vehicle one layer removed from the asset.

This design contrasts with products from BlackRock and Fidelity, which directly hold Bitcoin. Instead, Goldman’s approach reflects gains and losses from underlying exchange-traded products. As a result, performance depends on both Bitcoin price movements and ETF-linked instruments.

Options Strategy Introduces Income and Trade-Offs

To generate yield, the fund plans to sell call options on Bitcoin exchange-traded products. This strategy allows the fund to collect premiums from buyers. However, it also limits potential gains during strong price rallies.

Goldman stated the overwrite level could range between 40% and 100% of Bitcoin exposure. If prices rise beyond option strike levels, the fund would face losses on those positions. Consequently, upside returns may remain capped despite rising Bitcoin prices.

Competition Builds Across Bitcoin ETF Market

The filing arrives as competition intensifies among major financial firms. Notably, Morgan Stanley recently launched its own spot Bitcoin ETF product. Meanwhile, BlackRock has proposed a similar income-focused structure earlier this year.

According to Bloomberg analyst Eric Balchunas, Goldman’s structure differs due to regulatory choices. The fund uses the Investment Company Act of 1940, requiring a Cayman Islands subsidiary. This setup helps manage restrictions on direct commodity holdings.

Goldman’s move follows a shift in its crypto exposure strategy. The firm reduced combined Bitcoin and Ethereum ETF holdings by 39.4% last quarter. However, it has increased exposure to XRP-linked ETFs among institutional positions.

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Kraken resumes IPO filing after pause, reflecting improved market conditions and renewed listing considerations.

Deutsche Börse invests $200M for 1.5% stake, valuing Kraken at about $13.3B and strengthening market ties.

Revenue and trading volume surged in 2025, supporting expansion into tokenized stocks and broader platform growth.

Kraken co-CEO Arjun Sethi confirmed Tuesday that the crypto exchange has confidentially filed for a U.S. IPO, following an earlier pause. Speaking in Washington, D.C., Sethi said the company resumed plans after market conditions shifted. At the same time, Deutsche Börse Group agreed to invest $200 million for a 1.5% stake.

Filing Continues After Earlier Pause

Kraken initially submitted a draft Form S-1 to the U.S. Securities and Exchange Commission in November 2025. However, the company did not set a timeline for the listing. It later paused the process during a market downturn.

Now, Sethi said the filing remains active as Kraken evaluates timing. The comments came during the Semafor World Economy conference. He added that the company continues to expand access to advanced trading tools for individual users.

Notably, Kraken’s valuation has shifted during this period. Bloomberg reported the Deutsche Börse investment implies a $13.3 billion valuation. This figure sits below the $20 billion valuation reached in late 2025.

Strategic Investment Supports Expansion

Meanwhile, Deutsche Börse Group confirmed a $200 million investment in Kraken. The deal secures a 1.5% fully diluted ownership stake. This move links the crypto exchange with a major European market operator.

In addition, the partnership may deepen integration with Deutsche Börse platforms such as 360T and 360X. These systems support foreign exchange trading and tokenized securities. The collaboration aims to connect traditional and digital asset markets.

Kraken has also expanded its product offerings. It launched tokenized stocks, which exceeded $5 billion in volume across venues. The platform reported more than 37,000 users for this feature.

Market Conditions and Growth 

However, Kraken’s IPO timing remains uncertain. Earlier this year, the company paused plans as crypto prices declined. Bitcoin had fallen about 40% from its October peak during that period.

Recently, market activity has improved. Bitcoin climbed to around $76,000 and gained about 9% in April. At the same time, Kraken reported strong operational growth in 2025.

Revenue rose 33% to over $2.2 billion, driven by trading and asset-based services. Transaction volume reached $2 trillion, while platform assets increased to $48.2 billion.

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DUBAI, United Arab Emirates, April 15, 2026 /PRNewswire/ -- What will it take to build a financial system that billions of people can trust — and barely notice?

That question set the tone for a fireside chat titled "Trust, Technology, and Transformation: Building the New Financial Platform for a Tokenized Economy", where Bybit Co-founder and CEO Ben Zhou took the stage at Paris Blockchain Week 2026 to outline a future where finance becomes more intelligent, more accessible, and ultimately, invisible.

Rather than focusing on price cycles or short-term trends, Zhou framed the industry's next chapter as a fundamental redesign of financial infrastructure — one driven by the convergence of artificial intelligence, programmable assets, and regulatory clarity.

From Interfaces to Intelligence: The Rise of Agentic Finance

Zhou challenged the conventional idea of how users interact with financial platforms. In the future, he suggested, users may not interact with platforms at all.

"We've introduced AI agent accounts that allow clients to create sub-accounts for AI to interact, execute strategies, and access market data," Zhou shared. "Agentic payments are becoming a major theme — and we're just at the beginning."

Instead of manually navigating markets, users can delegate tasks to AI agents — systems that interpret data, execute decisions, and optimize outcomes in real time. Today, these applications are largely focused on analytics and data access. Tomorrow, they may redefine execution itself.

The implication is profound: the interface disappears, and intelligence takes its place.

The Quiet Transformation of Finance

While much of the public narrative still centers on "crypto," Zhou pointed to a quieter, more consequential shift already underway.

Traditional financial institutions are not entering the space through speculation — they are integrating blockchain as infrastructure. Stablecoins, in particular, are emerging as the bridge, enabling faster payments, more efficient settlement, and global liquidity access.

In many cases, Zhou noted, these institutions are building on crypto rails without embracing the label itself.

This signals a turning point: crypto is no longer an alternative system — it is becoming part of the foundation.

Trust Is the Real Product

For Zhou, the defining constraint — and opportunity — is not technology, but trust.

"The regulatory framework has become significantly clearer in recent years. Jurisdictions like the UAE are setting the pace by actively welcoming innovation and providing structured pathways for growth."

From Europe's structured approach to the evolving stance in the United States and the United Kingdom, regulatory clarity is no longer a barrier — it is becoming a catalyst.

As rules solidify, institutions follow. And as institutions enter, the system begins to mature.

A System That Works Without Being Seen

Zhou closed with a perspective that reframed the industry's ultimate goal:

"This is not about replacing existing financial systems, but enhancing them. Our focus is on building infrastructure that makes financial services more accessible, efficient, and intuitive for users globally."

The end state, he suggested, is not a world where users think about blockchain, wallets, or even platforms — but one where financial services simply work, seamlessly embedded into everyday life.

In that future, trust is built into the system, intelligence operates in the background, and technology fades from view.

#Bybit / #TheCryptoArk / #NewFinancialPlatform

About Bybit

Bybit is the world's second-largest cryptocurrency exchange by trading volume, serving a global community of over 80 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

For more details about Bybit, please visit Bybit Press

For media inquiries, please contact: media@bybit.com

For updates, please follow: Bybit's Communities and Social Media

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Rakuten enables XRP payments for 44M users, connecting the token to over 5M merchants nationwide in Japan.

Users can convert loyalty points into XRP, creating a seamless loop between rewards, crypto, and everyday spending.

Integration expands XRP beyond trading, boosting real-world adoption within Rakuten’s large payment ecosystem.

Rakuten will enable XRP payments across its Rakuten Pay platform starting April 15, 2026, giving 44 million users access to spend the token nationwide. The rollout connects XRP to more than 5 million merchant locations in Japan. The update also allows users to convert loyalty points into XRP and use it for everyday purchases.

XRP Integration Beyond Trading into Payments

The feature introduces XRP as both a tradable asset and a payment option within Rakuten Wallet. Users can buy XRP directly using Rakuten Points. They can also load Rakuten Cash balances with XRP for spending across supported merchants.

This move builds on Rakuten’s earlier crypto rollout in 2023. At that time, the platform added Bitcoin, Ether, and Bitcoin Cash for payments. However, XRP becomes the first external token integrated directly into the loyalty system.

Loyalty Points Connect to Digital Asset Spending

Rakuten’s points ecosystem plays a central role in this update. The company has issued more than 3 trillion points, valued at about $23 billion. Users can now convert those points into XRP, creating a direct link between rewards and digital assets.

Notably, this structure allows users to move value from loyalty rewards into crypto holdings. After conversion, users can spend XRP through Rakuten Pay without leaving the ecosystem. This creates a continuous loop between earning, converting, and spending.

Real-World Usage

Rakuten Pay operates across more than 5 million merchant locations in Japan. As a result, XRP gains immediate access to a large retail network. The integration places the token within everyday transactions, not just trading environments.

According to Tatsuya Kohrogi, Ripple’s senior ecosystem growth manager, the rollout marks a major milestone for XRP adoption. He noted that Rakuten’s consumer reach introduces the asset to users unfamiliar with crypto.

The update also aligns with Rakuten’s broader digital asset plans. The company previously outlined a Rakuten Coin concept tied to its rewards system. Meanwhile, XRP now becomes part of that expanding infrastructure.

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Kingstown, St. Vincent and the Grenadines, April 15th, 2026, Chainwire

Bitunix, a cryptocurrency derivatives exchange, announced that it has obtained ISO/IEC 27001:2022 certification, a widely recognized international standard for information security management given by the International Organization for Standardization (ISO).

The certification confirms that Bitunix exchange has established formal systems to manage and protect sensitive data, including user information and their assets. It follows an external audit process that evaluates how organizations identify risks, control access, and respond to potential security incidents.

With ISO 27001:2022 now achieved, for Bitunix users, the impact is practical. It means stronger protection of personal information and funds, better alignment with international data protection rules, and more transparency around how the platform operates. This also builds greater trust for users on the platform and, at the same time, the certification pushes the company to keep improving how it operates, from internal processes to overall platform stability. For users, that translates into a more reliable experience and a platform that is consistently working to perform better.

ISO 27001:2022 sets out clear requirements for how companies should organize their security practices, from internal procedures to technical safeguards. For exchanges, where large volumes of funds and personal data are handled, such standards are increasingly seen as essential rather than optional; hence, Bitunix achieved this certification.

A Continued Push Toward Stronger Security and Transparency

Known for high standards when it comes to security and transparency, alongside the certification, Bitunix exchange continues to build on its existing security setup through several practical measures reflecting ongoing efforts to improve how the company safeguards its platform and users.

The platform maintains proof of reserves showing more than 100% backing for BTC, ETH, and USDT, supported by real-time Merkle tree verification. It also applies a strict 1:1 asset backing model, ensuring that all user funds are fully matched. In addition, users are given access to open-source tools and a verification portal to independently check their balances.

To cover unexpected situations, Bitunix has also set aside a dedicated $30 million USDC care fund. Therefore, the ISO 27001:2022 certification adds to these efforts and reflects a broader push to keep improving how the exchange protects users.

The company said it will keep updating its systems as it grows, with a focus on keeping things safe and transparent for users.

“Achieving ISO/IEC 27001:2022 certification reflects our deep commitment to security and transparency,” said Steven Gu, Bitunix’s Chief Strategy Officer. “At Bitunix, we believe trust is earned through action. This certification, alongside our Proof of Reserve system, ensures our users can trade with confidence.”

Bitunix said it plans to continue updating its security practices as the platform expands and as threats evolve.

About Bitunix

Bitunix is a global cryptocurrency derivatives exchange trusted by over 5 million users across more than 150 countries. Guided by its core principle of better liquidity, better trading, the platform is built for traders who expect more, committed to providing Ultra Trust, Ultra Products, and Ultra Experience. Bitunix offers a fast registration process and a user-friendly verification system supported by mandatory KYC to ensure safety and compliance. With global standards of protection through Proof of Reserves (POR) and the Bitunix Care Fund, the exchange prioritizes user trust and fund security. Industry-first innovations like Fixed Risk, TradingView-powered chart suite, along with indicator alerts, cloud-synced templates, provide both beginners and advanced traders with a seamless experience. Making Bitunix one of the most dynamic platforms on the market.

Bitunix Global Accounts

X | Telegram Announcements | Telegram Global | CoinMarketCap | Instagram | Facebook | LinkedIn | Reddit | Medium

ContactCOO
Kx Wu
kx.wu@bitunix.io

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Kevin Warsh’s portfolio exceeds $100M, with major exposure through venture funds rather than direct holdings in liquid assets.

Crypto exposure includes projects like Solana and Optimism, reflecting indirect bets on blockchain infrastructure growth.

Investments span AI and biotech sectors, showing broad focus on emerging technologies and early-stage innovation.

Kevin Warsh, nominated by U.S. President Donald Trump to lead the Federal Reserve, disclosed a portfolio exceeding $100 million, including crypto-linked ventures. The filing, reviewed this week, details early-stage investments across blockchain, AI, and biotech sectors. According to Eleanor Terrett, the positions suggest indirect exposure through venture-style holdings rather than liquid assets.

Portfolio Structure Shows Venture-Style Exposure

Notably, Kevin Warsh’s largest holdings concentrate in Juggernaut Fund LP, linked to Duquesne Family Office. The fund accounts for over $50 million of his reported assets. This concentration shapes the broader structure of his financial disclosure.

However, smaller positions appear through DCM Investments 10 LLC. These holdings remain below $500,000 each and span emerging technology sectors. According to the filing, these investments generated no reportable income, indicating early-stage exposure.

Eleanor Terrett noted that these positions remain illiquid and indirect. They reflect venture participation rather than active trading or direct token ownership.

Crypto and Infrastructure Names 

Within the crypto segment, Warsh holds exposure to several blockchain projects and platforms. These include Compound, Optimism, Blast, and Solana. The filing also lists investments in Tenderly, Stashfin, and Lemon Cash.

In addition, the portfolio includes trading infrastructure and crypto investment firms. Warsh also holds a stake in Polymarket, a blockchain-based prediction platform. These positions form part of a broader allocation to digital finance infrastructure.

Meanwhile, the disclosure includes a stake in SpaceX, owned by Elon Musk. This addition sits alongside other technology-focused investments.

AI and Biotech Investments 

Beyond crypto, Warsh’s portfolio covers artificial intelligence and biotech ventures. Investments include Recraft, Volt, and 11x, which focus on AI-driven applications. Other holdings include Partiful and Cafe X, which operate in digital services and automation.

Biotech exposure includes firms working on protein engineering and medical treatments. These projects involve vaccine research and experimental contraceptive technologies.

Additionally, the filing lists Delphi AI, a platform designed to replicate human knowledge digitally. According to the disclosure, these investments reflect broad exposure to emerging technologies across multiple sectors.

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Ripple and Kyobo test blockchain-based settlement to reduce multi-day bond processes to near real-time execution speeds.

Project explores tokenized bonds and stablecoin rails within Korea’s regulatory framework for institutional finance use.

Initiative boosts transparency and efficiency, marking first such collaboration with a major Korean insurance firm.

Ripple said it partnered with Kyobo Life Insurance in Korea to explore onchain infrastructure for government bond settlement using Ripple Custody. The announcement, made during a company update, marks the first such collaboration with a Tier 1 Korean insurer. The effort focuses on testing tokenized bond transactions within a regulated institutional framework.

Partnership Targets Faster Bond Settlement

According to Ripple, the collaboration will assess how tokenized government bonds can settle on blockchain systems. Kyobo Life Insurance will use Ripple Custody to support secure asset holding and transaction execution. The platform provides integrated tools for managing and transferring digital assets.

However, the current system relies on multi-day settlement cycles. Ripple said blockchain-based processes could shorten this timeline to near real-time execution. This approach allows transactions to settle simultaneously, reducing delays in traditional workflows.

Notably, the companies will examine both technical and regulatory feasibility. The goal is to ensure the model operates within Korea’s financial rules while improving efficiency.

Infrastructure Aims to Improve Transparency and Efficiency

Ripple said the system replaces manual settlement processes with automated onchain execution. This shift improves transparency across transaction stages and reduces reliance on fragmented systems. It also lowers counterparty risk by enabling faster settlement.

In addition, Kyobo Life Insurance will explore stablecoin-based payment rails as part of the project. These rails could support continuous, 24-hour transactions within a compliant environment. Ripple noted that this setup may connect with broader treasury and liquidity functions over time.

According to Fiona Murray, Ripple’s Managing Director for Asia Pacific, the partnership reflects growing institutional interest in digital asset infrastructure. Meanwhile, Jin Ho Park of Kyobo said the project tests how traditional financial instruments operate on blockchain systems.

Korea Market Expansion Supports Broader Strategy

The partnership also aligns with Ripple’s expansion in Korea’s regulated financial sector. The country has supported digital finance adoption since introducing remittance licensing in 2017. Ripple said this initiative builds on that environment by focusing on institutional use cases.

Moreover, Kyobo Life Insurance becomes the first major Korean insurer to explore this model with Ripple. The project positions both firms within ongoing efforts to integrate blockchain into financial market infrastructure.

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Synthetic leverage is emerging as an important instrument of decentralized finance (DeFi). It enables users to operate big positions with reduced capital. It is a strategy that offers efficiency and flexibility and is transforming the modern approach to investment in the crypto space.

What Is Synthetic Leverage?

Smart contracts in synthetic leverage enable the simulation of leverage positions in assets, even in the absence of asset ownership. That increases the purchasing power for the traders, reducing the capital needed initially. The fact that it operates on a blockchain platform means that the process enables transparency and permissionless functionality. 

This model utilises synthetic tokens, which represent digital assets collateralised and tied to the value of real and digital assets. This means traders can access them without the need for middlemen.

In contrast to conventional leverage, synthetic leverage does not rely on the use of third party middlemen and clearinghouses. In synthetic leverage, leverage systems and platforms work on the basis of protocols, price oracles, and other related systems.

How It Works in DeFi

With the help of collateralization and the process of token minting, synthetic leverage can be obtained on the platforms of the decentralised finance technology industry. The asset, in this form, receives cryptocurrency in exchange. The asset could either represent commodities, cryptocurrencies, other currencies, or even stock.

The procedure is regulated by smart contracts, which operate on a set of rules. When the value goes too low, there is automatic liquidation, protecting the system. The system regulates itself in order to keep everything stable and maintain the trustless model.

Platforms like Synthetix and UMA make synthetic leverage possible through the ability to issue tokens against locked collateral. When users borrow synthetic assets, they can access the price action without necessarily holding the underlying assets. This approach optimises synthetic leverage. 

Benefits of Synthetic Leverage

By using synthetic leverage, the traders can now access the markets more easily and with less capital. The tool also enables traders to manage larger positions and still have liquidity. In the process, the traders can diversify their portfolios since they can now invest in different assets across different sectors. The increased flexibility enables the traders to make more innovative and more holistic investment decisions.

In addition, synthetic leverage provides the ability to make use of the volatility that exists in the markets. The high volatility in the markets provides an opportunity for traders using leverage to make quick profits. 

Risks and Considerations

Like any other financial tool, synthetic leverage comes with risk. Market volatility can amplify losses as well as potential gains; hence, success requires good planning and responsibility in its use.

Another concern is collateral risk, since the values of assets can fluctuate. A sharp drop in collateral value may trigger liquidation events. If systems aren't managed properly, the user funds come into jeopardy.

Moreover, synthetic systems depend on oracles for price feeds. In such a case, failure or manipulation of an oracle results in incorrect valuation. Therefore, users have to judge protocol security and oracle reliability beforehand.

Key Platforms Enabling Synthetic Leverage

A number of DeFi applications provide synthetic leverage, where synthetic assets can be minted and traded with the help of smart contracts. These platforms have different models, features, and risk frameworks which are applicable in other trading strategies.

1. Synthetix

Synthetix enables users to mint synthetic assets in SNX tokens by collateralising them. It facilitates the exposure to crypto, fiat, and commodities by its decentralized exchange, Kwenta.

2. UMA (Universal Market Access)

UMA allows users to build synthetic assets on a configurable smart contract and priceless oracle. This helps in being less dependent on constant price feeds and decreasing oracle risks.

3. MakerDAO

MakerDAO enables one to mint DAI, a US dollar-pegged stablecoin, by depositing crypto assets. This promotes artificial exposure to fiat based currencies via a decentralized borrowing approach.

4. Abra

Abra provides trading of synthetic assets by exchanging fiat into crypto-backed synthetic assets. It allows traditional asset classes to be accessed through blockchain but not the ownership of the assets.

All the platforms have a different contribution to the ecosystem of synthetic leverage. The selection by traders depends on the availability of assets, collateralization and platform designs.

Conclusion

Synthetic leverage is opening up financial opportunities within the DeFi system. It assists investors to access more exposure, risk management and diversification effectively. Synthetic leverage is the focus of the recent development of DeFi by eliminating the middlemen and enhancing liquidity.

Despite the presence of risks, platforms are enhancing security and transparency in the ways of automation and decentralization. As users can be responsible and use platforms with knowledge, they can experience increased flexibility and capital efficiency. Synthetic leverage will continue to be a useful aspect of modern crypto finance as DeFi expands.

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Key Insights:

Shiba Inu breaks below its ascending trendline, signaling the end of its short-term recovery and shifting momentum back toward a broader downtrend.

Weak buying activity and declining momentum indicators highlight reduced market confidence, increasing the likelihood of continued downside pressure in the near term.

Bearish moving averages and neutral RSI conditions indicate no immediate recovery signals, leaving SHIB exposed to further declines toward lower support levels.

Shiba Inu has slipped below a key ascending trendline that had supported its gradual recovery over recent weeks, signaling a clear shift in market structure. The break follows a steady pattern of higher lows that had defined the token’s short-term upward movement since early March.

However, the latest move shows a decisive drop rather than a temporary deviation, indicating that the previous support level has failed to hold under pressure. Consequently, the technical outlook now reflects a weakening structure.

Price Struggles Near Lower Levels

The token now trades near the $0.0000058 range, where it continues to face downward pressure without signs of strong stabilization. This move reflects a broader loss of momentum that had supported earlier recovery attempts.

Besides, the absence of a quick rebound reinforces the view that the breakdown carries weight, as prices remain below the former support line. Hence, traders now focus on lower support zones as the next potential areas of interest.

Buyers Show Signs of Fatigue

Market behavior indicates that buyers failed to defend the critical trendline during the breakdown, pointing to reduced confidence in maintaining higher price levels. This shift places the burden back on bullish participants, who now face a more challenging environment.

Moreover, the lack of a strong reaction at this level suggests that demand has weakened, limiting the possibility of a swift recovery. Consequently, the market tone leans toward caution as selling pressure persists.

Indicators Reinforce Bearish Outlook

Technical indicators continue to align with the bearish narrative, as moving averages remain positioned above the current price. This setup highlights sustained downward pressure within the broader trend.

Source: TradingView

Additionally, the Relative Strength Index remains in a neutral-to-weak range, offering no clear signal of an oversold condition or imminent reversal. Hence, momentum does not currently support a recovery scenario.

Volume Activity Reflects Weak Demand

Trading volume patterns further confirm the ongoing weakness, as the recent decline did not attract a noticeable increase in buying activity. This behavior indicates hesitation among market participants during price dips.

Significantly, such conditions often allow downward trends to extend, as limited demand reduces the chances of a strong rebound. Therefore, the market continues to reflect cautious sentiment.

Price action now suggests a likely move toward lower support levels, with the potential for retesting recent lows if current conditions persist. This scenario aligns with the broader trend that has dominated for months.

However, any short-term bounce may face resistance unless the price reclaims the broken trendline and sustains above it.

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Ondo filed for SEC no-action relief to deploy an onchain layer for OGM without changing custody, records, or legal protections.

The model adds Ethereum-based token records for entitlements, managed by BitGo, while official books remain offchain.

Ondo targets better collateral tracking, faster workflows, and simpler reconciliation using a parallel blockchain layer.

Ondo Finance filed a no-action request with the U.S. Securities and Exchange Commission to support an onchain layer for Ondo Global Markets products. The filing seeks confirmation that SEC staff would not pursue enforcement if the model proceeds. Ondo said the request focuses on improving operations without altering legal protections or market structure.

Filing Targets Operational Upgrades

According to Ondo Finance, the proposal keeps existing securities frameworks fully intact. OGM products would remain tokenized notes offering exposure to U.S.-listed stocks and ETFs. The underlying assets would stay within current custody, recordkeeping, and legal systems.

However, the model introduces a limited onchain representation of certain securities entitlements. These tokenized records would exist on Ethereum Mainnet alongside traditional systems. Custodian BitGo would manage these representations to support internal processes.

Notably, Ondo said this approach does not replace official books and records. Instead, it adds a parallel layer designed to improve operational efficiency. The filing emphasizes continuity rather than structural change.

Blockchain Layer Aims to Improve Workflows

The company outlined specific areas where the onchain layer could improve performance. First, it would enhance collateral monitoring for OGM products through transparent tracking. Second, it could streamline creation and redemption workflows.

In addition, Ondo said reconciliation across the product stack would become simpler. These improvements rely on maintaining the existing system while adding targeted blockchain functionality. According to Ondo, the goal centers on operational clarity rather than redesigning financial products.

Moreover, the firm noted that OGM already operates within Ethereum-compatible environments. Using Ethereum Mainnet reduces friction and maintains system consistency. This integration supports smoother adoption without introducing new infrastructure risks.

Request Seeks Clarity Under Existing Rules

Ondo Finance stated that the no-action request does not seek new regulations. Instead, it asks for confirmation that the proposed structure fits within current securities laws. The company said this step allows a controlled rollout under regulatory oversight.

According to Ondo, a no-action position would enable a specific model to proceed without waiting for broader rulemaking. The filing frames the proposal as a narrow, supervised adjustment to an existing product framework.

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Circle studies an Arc token to support governance, incentives, and validator rewards as the network evolves toward a PoS model.

Arc runs on USDC gas in testnet, targeting institutional finance with sub-second finality and high-throughput performance.

Firms like BlackRock and Visa test Arc, while Circle plans phased PoS migration with no confirmed mainnet timeline.

Circle CEO Jeremy Allaire said at a company event in Seoul that Arc Network is advancing in testnet while a native token is under review. The update, shared during the Seoul gathering, outlined plans for governance and incentives. Circle is studying how a token could support a future transition to a Proof-of-Stake model.

Token Design Targets Governance and Incentives

According to Jeremy Allaire, the proposed token would anchor governance and economic coordination across the network. Arc, described as an economic operating system, focuses on stablecoin-based finance and institutional workflows. The token would help align validators, developers, and users around shared incentives.

However, Circle has not released details on supply, distribution, or a ticker. The company said design work continues, with attention on predictable economics and long-term security. The token would also reward participants who validate transactions and maintain network operations.

Meanwhile, Arc currently uses USDC as a gas token during its public testnet phase. This setup provides predictable fees while the network tests core infrastructure and integrations.

Testnet Progress and Enterprise Focus

Notably, Arc has already entered a live testnet stage, indicating active development and partner testing. Circle said the network targets high-throughput financial applications and tokenized assets. It also aims to support institutional workflows with low-latency transaction processing.

In addition, Circle highlighted interest from large enterprises participating in early testing. These include firms such as BlackRock and Visa, which are exploring integrations. The network currently delivers sub-second finality, with testnet speeds near 780 milliseconds.

The design also considers “agentic commerce,” where AI systems execute frequent micro-transactions. Circle said the infrastructure supports high-volume activity with consistent performance.

Roadmap Points to Phased PoS Transition

Looking ahead, Circle plans a gradual move toward a Proof-of-Stake model. According to Allaire, the native token would enable staking to secure the network. This shift aligns Arc with common consensus models used in scalable blockchain systems.However, Circle has not set a timeline for a mainnet launch or PoS migration. The company said it will continue testing and refining features through 2026. The staff also described the current phase as critical for evaluating governance and economic structures.

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Singapore, Singapore, April 14th, 2026, Chainwire

Printr V2 introduces five creator-selectable fee distribution models, configurable liquidity, anti-vamp protection, and a new on-chain mechanism called Proof of Belief (POB) staking. Live on 8 chains from day one.

Printr, the omnichain token launchpad backed by Bybit Venture Studio, has launched Printr V2, a full infrastructure upgrade introducing five fee distribution models, configurable launch profiles, anti-vamp protection, and a new staking mechanism called Proof of Belief (POB).

The update arrives as the memecoin launchpad market faces structural challenges. The memecoin market lost 61% of its total value in 2025, with fewer than 1% of tokens on major launchpads surviving past their bonding curve out of over 11.5 million created.

Five Fee Distribution Models

V2 offers five models: Buyback & Burn, where custom fees create continuous buy pressure; Liquidity Compounding, where fees deepen the pool on every trade; POB (Proof of Belief) Staking, where 100% of custom fees flow to stakers; Creator Wallet, where fees go directly to the creator’s wallet; and No Fee, which removes custom fees entirely for lower-cost trading. Creators set their custom fee percentages, with total fees capped around industry norms. Every fee structure is visible on the token page before a trader makes a single trade.

Proof of Belief (POB) Staking

When a creator selects POB staking, 100% of the custom fee flows into a shared staking pool. Anyone, including the creator, can stake tokens and earn a share of the trading fees generated by that token. Lock durations range from 7 to 180 days, with longer commitments earning proportionally higher rewards. Creators must also stake to earn.

Before buying, traders can see how much of the supply is staked, who is locked in, and for how long. If the creator exits, the staking mechanics continue running, and the community can continue earning fees.

Full technical details are available in the Printr V2 documentation.

Creator Toolkit

V2 also introduces configurable launch profiles, allowing creators to choose preset economics or set custom bonding curve parameters including starting market cap, graduation market cap, supply, and liquidity/mcap ratio. At graduation, liquidity auto-migrates to a DEX with LP tokens locked.

The new anti-vamp protection applies a 48-hour cooldown on identical tickers and images to prevent copycat tokens from disrupting new launches.

Building for Tokens That Last

“When nearly every token on the biggest launchpads fails within the first few hours of launching, the problem is not bad actors. It is bad infrastructure,” said Fed, Founder of Printr. “We built Printr V2 to change the incentives, so that commitment becomes the rational choice.”

Availability

Printr V2 is live at app.printr.money. All key features, including POB staking, are available on 8 chains from day one: Solana, Base, BNB Chain, Mantle, Ethereum, Monad, Avalanche, and Arbitrum.

About Printr

Printr is an omnichain token launchpad built for the next generation of on-chain creation. From solo creators to AI agents and third-party applications, users can launch tokens across multiple chains. Printr V2 introduces five fee distribution models, configurable launches, anti-vamp protection, and Proof of Belief staking. Powered by LayerZero and backed by Bybit Venture Studio, Printr is building the infrastructure for a tokenized world.

Website: printr.money

App: https://app.printr.money 

X/Twitter: https://x.com/printr

Documentation: https://printr.gitbook.io/printr-docs 

ContactsMarketing Lead
Lennon Tan
Printr
lennon@printr.money
CEO
Jason Ma
Printr
jason@printr.money

Disclaimer: Any information written in this press release does not constitute investment advice. Crypto Front News does not, and will not endorse any information about any company or individual on this page. Readers are encouraged to do their own research and base any actions on their own findings, not on any content written in this press release. Crypto Front News is and will not be responsible for any damage or loss caused directly or indirectly by the use of any content, product, or service mentioned in this press release. For more details, visit our disclaimer page.

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SEC guidance allows crypto interfaces to avoid broker rules if they remain neutral and do not provide trading advice or influence execution.

Platforms must use objective routing criteria, disclose fees and conflicts, and avoid promoting “best price” or biased execution paths.

Exemption is narrow and temporary, excluding custody, execution, or advisory services, which still require broker registration.

The U.S. Securities and Exchange Commission said Monday that certain crypto user interfaces may avoid broker-dealer registration under specific conditions. The statement, issued by the Division of Trading and Markets, outlines how these tools can operate within existing laws. It forms part of Project Crypto and aims to clarify how federal securities rules apply to digital asset activities.

Conditions Define Scope of Exemption

According to the U.S. Securities and Exchange Commission, the guidance applies to “covered user interfaces.” These include websites, mobile apps, and browser tools linked to self-custodial wallets. They help users prepare and send transactions involving crypto asset securities on blockchain systems.

However, the staff said these interfaces must remain neutral. Providers cannot recommend trades or influence execution choices. They also must avoid using terms such as “best price” when presenting trading routes.

Notably, users must control all trade decisions, including price and size. In addition, systems must rely on objective and pre-disclosed criteria when routing transactions. The agency said it will not object if providers meet these conditions.

Disclosure and Operational Limits

The SEC also detailed strict disclosure requirements for interface operators. Providers must clearly explain fees, conflicts, and any links to trading venues. Moreover, fee structures must remain fixed and unrelated to trade outcomes.

However, the guidance restricts how platforms present market data. Interfaces cannot prioritize routes based on editorial judgment or incentives. Instead, users should filter options using neutral metrics such as speed or price.

The staff also requires ongoing evaluation of connected trading venues. Providers must assess liquidity, security, and transparency using consistent standards. Default settings must follow objective criteria and undergo regular review.

Statement Remains Temporary and Limited

The SEC clarified that the statement does not create binding rules. Instead, it reflects current staff views under the Securities Exchange Act of 1934. The agency said the framework will remain in place for five years unless updated.Importantly, the exemption remains narrow in scope. It does not apply to firms that execute trades, custody assets, or provide investment advice. Platforms performing those functions must still register as broker-dealers.

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ABA argues stablecoin yield could shift deposits away from banks, increasing funding costs and tightening credit supply.

Larger $1T–$2T stablecoin market could amplify deposit migration, especially impacting community banks and local lending.

Higher funding costs may force banks to raise rates or cut lending, reducing credit availability for households and SMEs.

The American Bankers Association challenged a recent White House Council of Economic Advisers report on payment stablecoins, arguing it misses key risks. The response followed the CEA paper examining lending impacts if issuers cannot pay yield. ABA said the analysis overlooks how allowing yield could drive deposit outflows and raise bank funding costs.

From Prohibition to Deposit Flight Risk

According to the American Bankers Association, policymakers should examine the effects of allowing stablecoin yield, not banning it. The group said the CEA framed prohibition as the intervention, which narrows the policy debate. However, ABA warned this framing aligns with industry narratives and understates broader risks.

The CEA paper estimated that banning yield could raise bank lending by about $1.2 billion. However, ABA described that figure as small relative to typical quarterly lending changes. It added that the estimate does not address future impacts as stablecoins expand.

Notably, the report used a current market size of about $300 billion. ABA said that baseline would differ from a projected $1 trillion to $2 trillion market. In larger markets, the group said yield becomes a key driver of deposit migration.

Larger Markets and Community Banks Issue

Across studies, ABA said researchers agree that yield-paying stablecoins increase incentives to move funds from bank deposits. However, the group noted that total deposits may stay stable while shifting between institutions. It said smaller banks could lose deposits to larger entities or stablecoin reserves.

That shift, according to ABA, affects lending capacity at the local level. Community banks rely on local deposits to extend credit. When deposits move, their lending ability moves as well.

ABA cited its analysis showing potential state-level effects. For example, lending in Iowa could drop between $4.4 billion and $8.7 billion as stablecoins grow.

Funding Costs and Credit Pressure 

The group also addressed how banks respond to deposit losses. It said community banks must replace funding quickly through higher-cost sources. These include wholesale borrowing or capital market funding.

However, banks may also raise deposit rates to retain customers. In both cases, ABA said funding costs increase. It added that higher costs can reduce lending and raise borrowing costs for households and small businesses.The CEA paper suggested deposits could be reshuffled across the system. However, ABA said that shift could still reduce credit where relationship banking matters most.

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Key Insights:

Hyperliquid price surged over 12% weekly as ETF filings and institutional activity increased demand, strengthening market confidence and boosting trading volumes significantly.

Trading activity expanded sharply as tokenized oil contracts gained traction, pushing open interest beyond one billion dollars during heightened geopolitical tensions.

Bullish flag breakout and upcoming HIP 4 upgrade support further upside momentum, with technical indicators pointing toward a potential move near fifty-six dollars.

Hyperliquid Price Climbs on Institutional Momentum

Hyperliquid price traded near $41.5, marking a weekly gain exceeding 12% as institutional developments supported market sentiment. Besides this weekly rise, the token has recovered strongly from its year-to-date lows, showing sustained buying pressure. Market participants reacted quickly to new filings that signaled broader access for traditional investors.

Bitwise submitted an updated S-1 filing for a spot in the Hyperliquid ETF on April 10, which increased expectations of a possible U.S. launch. Consequently, interest in the asset grew as investors anticipated regulated exposure without direct ownership. Additionally, the firm introduced a staking exchange-traded product on Germany’s Deutsche Börse Xetra, further expanding access across global markets.

Oil Trading Drives Platform Activity

Trading volumes increased sharply as users turned to tokenized oil perpetual contracts during rising geopolitical tensions linked to the Strait of Hormuz. Hence, Hyperliquid benefited from continuous trading availability while traditional markets remained closed over the weekend. Open interest in crude oil contracts crossed one billion dollars, reflecting strong speculative and hedging activity.

Source: TradingView

The surge in trading activity strengthened Hyperliquid’s buyback system, which allocates most platform fees toward purchasing and burning HYPE tokens. Moreover, this mechanism steadily reduces circulating supply and reinforces price stability during periods of high demand. As activity remains elevated, the impact of this model continues to shape market structure.

Upgrade Expectations Add to Growth Outlook

Anticipation surrounding the HIP 4 upgrade has also supported sentiment as the network prepares to expand its offerings. Significantly, the upgrade will introduce prediction markets and binary options, building on earlier expansions into commodities and equities. This development positions Hyperliquid as a broader decentralized trading platform.

Price action confirmed a bullish flag breakout on the daily chart, indicating a continuation of the upward trend. Additionally, the supertrend indicator turned positive, while the relative strength index remained below overbought levels. Consequently, analysts now track a potential move toward $56 if the current momentum holds.

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PHILADELPHIA, April 13, 2026 /PRNewswire/ -- The following statement is being issued by Kroll Settlement Administration on behalf of the United States Department of Justice regarding the OneCoin Cryptocurrency Remission Program ("Remission Program").

What is this about?

The Department of Justice has commenced a petition for remission process to compensate fraud victims who invested in the fraudulent cryptocurrency platform, OneCoin, between 2014 and 2019. The United States Attorney's Office for the Southern District of New York filed a number of OneCoin-related prosecutions in the Southern District of New York.

Between 2014 and 2019, Ruja Ignatova and Karl Sebastian Greenwood, co-founders of OneCoin Ltd., and others, orchestrated a large, international cryptocurrency investment scheme defrauding investors from around the globe. The scheme involved the marketing and sale of fraudulent cryptocurrency, resulting in significant financial losses for victims worldwide. The United States Attorney's Office in the Southern District of New York pursued criminal forfeiture of proceeds of the fraud scheme and the net proceeds of those forfeited assets will be available to compensate victims through the remission process. Victims affected by the OneCoin scheme may file petitions for remission to receive compensation.

Who is eligible for compensation?

Victims who purchased OneCoin cryptocurrency between 2014 and 2019 and experienced a net loss of the investment when accounting for any completed withdrawals or collateral recoveries may be eligible to receive compensation in this matter. However, submission of a petition for remission does not guarantee payment. Neither the Department of Justice nor the Remission Administrator charge fees for you to file a petition or to participate in the remission process. Additionally, you do not need an attorney to file a petition.

What options do victims have?

Submit a Petition Form by June 30, 2026: To participate in this Remission Program, you must submit a completed petition form. As part of your submission, you will be asked to verify monetary losses that were incurred as a result of the scheme. Documentation to support all claimed losses must be included with the submission of your petition form. Petitions for remission can be submitted by mail or online on www.onecoinremission.com.

Do Nothing: If you do not wish to participate in the Remission Program, you do not need to file a petition form. No further action is necessary. If you do not submit a petition for remission, you will not be considered in the Remission Program.

Get More Information

This is only a summary. More details about the petition for remission process and instructions on how to submit a petition are available as follows:

Visit: www.onecoinremission.com

Call: 1-833-421-9748

Email: info@OneCoinRemission.com

Write: OneCoin Remission, c/o Kroll Settlement Administration LLC, P.O. Box 225391, New York, NY 10150-5391

Disclaimer: Any information written in this press release does not constitute investment advice. Crypto Front News does not, and will not endorse any information about any company or individual on this page. Readers are encouraged to do their own research and base any actions on their own findings, not on any content written in this press release. Crypto Front News is and will not be responsible for any damage or loss caused directly or indirectly by the use of any content, product, or service mentioned in this press release. For more details, visit our disclaimer page.

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Key Insights

Shiba Inu burn activity surged sharply as blockchain trackers recorded 15.5 million SHIB removed from circulation across multiple wallet transactions today.

Ten burn transactions reduced Shiba Inu supply while a Robinhood-linked wallet ranked among the top ten burners over thirty days period review

Price action stayed mostly sideways with only 0.24% gains as Shiba Inu traded near $0.000005917 during the reporting session, market analysis

Shiba Inu recorded stronger network activity as burn transactions increased across multiple wallets on Saturday, April 11. Blockchain tracker Shibburn reported 15,509,996 SHIB removed from circulation, marking a 237% daily burn increase across ten transactions while price action remained largely sideways near $0.000005917. Besides, the burn value stood near ninety-one dollars and reflected a steady level of stability

On-chain data showed ten separate burn transactions that removed SHIB from active circulation across multiple wallets during the reporting period. Additionally, blockchain analysis highlighted that a wallet linked to Robinhood ranked among the top ten SHIB burners over the past thirty days, adding visibility to exchange-related burn participation. Consequently, the steady burn trend reinforced ongoing supply reduction efforts while maintaining consistent activity across community-driven initiatives and automated burn mechanisms. Moreover, this pattern continued to support gradual deflation in total circulating SHIB supply across the network ecosystem level structure

Price Action Remains Sideways Despite Momentum

The Shiba Inu price moved only slightly higher despite the sharp rise in burn activity across the network. Market data indicated a modest 0.24% gain over the last twenty-four hours, placing SHIB near $0.000005917 at the time of writing. However, traders continued to monitor price compression conditions as reduced volatility aligned with ongoing supply burn activity and broader meme coin market stabilization trends across major exchanges. Besides, liquidity levels stayed steady during short-term trading sessions, and market sentiment

Shiba Inu supply continued to contract as burn mechanisms reduced available tokens in circulation. Moreover, the total value of burned SHIB during the period stood at roughly ninety-one dollars based on prevailing market rates. Besides, analysts observed that sustained burn activity and consistent wallet participation have supported a gradual deflation narrative for SHIB while reinforcing long-term interest in supply reduction across decentralized community-driven mechanisms and exchange-linked activity that continues to shape token distribution patterns within the broader ecosystem market structure evolution

Outlook on Burn Driven Momentum

Shiba Inu maintained steady attention from traders as burn activity continued to influence supply expectations across the network. Additionally, the combination of reduced circulating supply and consistent wallet activity kept market participants focused on longer-term structural shifts. 

However, price movement remained limited in the short term, even as on-chain metrics suggested continued engagement from burn contributors and steady participation from large holders across the ecosystem, which helped sustain a balanced market environment despite muted trading momentum across major exchanges during the reporting period analysis cycle

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Ether Machine scrapped its Nasdaq listing and $1.5B Ethereum fund after terminating its SPAC merger deal.

A $50M clause requires payment within 15 days, while Dynamix now seeks a new business combination.

Broader market pressure drives exits and strategy shifts among firms pursuing Ethereum treasury models.

Ether Machine has canceled its planned Nasdaq debut after terminating its merger with Dynamix Corporation, the company confirmed in a filing. The decision took effect immediately and followed worsening market conditions. The move halts a proposed $1.5 billion Ethereum fund and ends a SPAC deal that also involved The Ether Reserve LLC.

Merger Termination Triggers $50 Million Clause

Ether Machine and Dynamix agreed to end their business combination through a mutual decision. According to the filing, deteriorating market conditions drove the termination. The agreement includes a financial clause tied to the exit. 

An unnamed payor must deliver $50 million to Dynamix within 15 days. However, the identity of the payor remains undisclosed in public filings. This obligation forms part of the original merger agreement structure.

Dynamix now shifts focus to securing another deal. The company has until November 22, 2026, to complete a new business combination.

Nasdaq Debut and Ethereum Fund Paused

The canceled deal stops Ether Machine’s planned public listing under the ticker ETHM. The firm had positioned the offering as a large yield-bearing Ethereum fund.  According to earlier disclosures, the fund aimed to launch with over 400,000 Ethereum under management. 

At the time, that holding exceeded $1.5 billion in value. The company, co-founded by Andrew Keys and David Merin, built its treasury ahead of listing. In September, Ether Machine raised $654 million in private financing. That round included 150,000 Ethereum from Jeffrey Berns, who joined its board.

Ethereum Treasury Strategies Face Pressure

The cancellation comes as other Ethereum treasury strategies unwind. Trend Research exited its position by selling 651,757 Ethereum. The firm recorded an estimated $747 million loss on that transaction. This sale marked one of the largest recent liquidations.

Meanwhile, ETHZilla moved away from its Ethereum-focused strategy. The company rebranded as Forum Markets and dropped its accumulation model. These developments follow tightening market conditions across crypto. As a result, several institutional Ethereum treasury plans have stalled or reversed direction.

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Brian Armstrong now supports CLARITY Act after revisions addressed concerns on yields and tokenized equity rules.

Senate negotiations advance toward agreement, with committee approvals still needed before a full vote.

Industry and political backing grows, though divisions remain over stablecoin provisions and regulatory structure.

Coinbase CEO Brian Armstrong backed the Digital Asset Market CLARITY Act after previously opposing it. He said the updated bill is strong enough to pass after months of negotiations. His position aligns with Scott Bessent, who urged Congress to move the legislation forward.

Armstrong Reverses Stance After Earlier Objections

Armstrong confirmed his support in a post on X, stating it is time to pass the bill. Notably, this marks a shift from his earlier positions in January and March. At that time, Armstrong withdrew support before a Senate Banking Committee markup vote. 

That decision delayed the process and exposed divisions across the industry. He had raised concerns over stablecoin yield restrictions and tokenized equity provisions. However, recent negotiations addressed key issues raised by Coinbase.

According to Armstrong, bipartisan work improved the bill’s structure over recent months. As a result, Coinbase now supports advancing the legislation.

Negotiations Move Closer to Final Agreement

Progress has continued across both Senate committees handling the bill. The Senate Agriculture Committee approved its portion in January. However, the Senate Banking Committee has yet to schedule its markup. This step must occur before the full Senate vote.

Coinbase Chief Legal Officer Paul Grewal said lawmakers are close to reaching an agreement. His statement reflects narrowing differences between regulators. The bill splits oversight between securities and commodities frameworks. Therefore, coordination across committees remains necessary for passage.

Industry and Political Pressure Intensifies

Support for the bill now includes both policymakers and industry leaders. Bessent urged Congress to act, warning about global competition. Meanwhile, Donald Trump has called for faster progress on crypto regulation. Reports also indicate Armstrong met with Trump before this endorsement.

Industry participants remain divided on certain provisions. Brad Garlinghouse supported the bill, while banking groups raised concerns over stablecoin yields. A compromise on yield provisions helped move discussions forward. 

A White House analysis estimated a full ban could cost consumers $800 million annually. The House passed the CLARITY Act in July 2025, but Senate delays stalled progress.

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BlackRock’s BITA ETF uses a covered-call strategy to turn Bitcoin volatility into income through option premiums.

The fund caps upside gains during rallies, balancing steady yield generation with limited price appreciation potential.

Strong IBIT liquidity and institutional setup support execution as demand grows for income-focused crypto products.

BlackRock has advanced plans for its Bitcoin income ETF, filing updates on April 1, 2026, to refine structure and strategy. The product, trading under ticker BITA, aims to generate yield from Bitcoin using options. The move follows strong demand for its spot ETF IBIT and reflects a shift toward income-focused crypto exposure.

Covered-Call Structure Drives Income Strategy

The BITA fund converts Bitcoin volatility into cash flow through a covered-call strategy, according to filings. It will hold Bitcoin, cash, and shares of IBIT to maintain exposure.

Notably, the fund will sell call options tied mainly to IBIT shares. Each sale generates premiums, which form the core income stream for investors.

However, this structure introduces trade-offs. If Bitcoin rises above strike prices, the fund must sell at lower levels. As a result, upside gains become capped during strong rallies.

Institutional Setup and Liquidity Edge

BlackRock assigned Coinbase as custodian, mirroring its IBIT structure. This ensures continuity in custody and operational design. Meanwhile, IBIT’s scale provides a liquidity advantage. With over $50 billion in assets, it offers deep options markets for efficient execution.

According to ETF analyst Eric Balchunas, the launch could arrive within weeks, not months. This timeline reflects accelerated preparation following regulatory filings. Additionally, BlackRock’s broader crypto expansion includes its Ethereum staking ETF, ETHB. That product reached over $435 million in assets within a month.

Performance Context and Market Positioning

Covered-call Bitcoin ETFs already exist, including BTCI, YBTC, and BAGY. These funds offer high distribution rates but lag Bitcoin’s price performance. Their income model performs best in flat markets, where price movement remains limited. 

However, strong rallies reduce relative returns due to capped upside. Meanwhile, Bitcoin trades near the mid-$60,000 range amid a prolonged downturn phase. Despite this, institutional activity continues to expand.

BlackRock’s on-chain holdings exceed $58 billion as of April 2026, according to Arkham data. Settlement delays mean blockchain movements appear one day after trades. This structure places BITA within a growing segment focused on yield rather than pure price exposure.

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