Global corporate bitcoin holdings increased by around 80,000 BTC in April; Selected merchants at the Formula 1 Crypto.com Miami Grand Prix will utilise Crypto.com Pay for payments; Crypto.com partners with Green Dot to enhance banking and money movement features
US spotbitcoin ETFs had a net inflow of US$1.6 billion in the past five trading days, the third consecutive week of net inflows. Spot ether ETFs saw a net inflow of $43 million in the same period, the second consecutive week of net inflows.
On the macro side, US nonfarm payrolls increased by 177,000 in April, above the Dow Jones estimate of 133,000. The unemployment rate stayed at 4.2%, which remained in line with expectations and indicates a relatively stable labour market. The US GDP fell by 0.3% year-over-year in Q1 2025, the first quarter of negative growth since Q1 2022, as the economy saw a surge in imports ahead of the tariffs. The latest CME FedWatch Tool showed a 3% probabilityof a May rate cut in the US (vs 10% last week). The Bank of Japan kept interest rates unchanged at 0.5% which was in line with expectations.
Notable updates: Jupiter (JUP) introduced Ultra v2 as its default swap engine
Notable events in the coming week: Interest rate decisions from the US Federal Reserve and the Bank of England
Weekly Market Index
Price index was up by +1.20%, while volume and volatility indices were down by -25.52% and -9.86%, respectively. Only BTC (+1.64%) and ETH (+2.01%) saw price growth. Stacks (STX) led the decline in both price (-12.0%) and volume (-59.0%). Stacks’s sBTC withdrawals went live, allowing users to convert sBTC on Stacks to BTC on the Bitcoin network. Prices increased during the middle of the week, which coincided with stronger-than-expected nonfarm payroll growth in the US. Prices of the crypto market largely retraced towards the end of the week as investors braced for potential volatility ahead of the US Fed’s interest rate decision on 7 May.
Chart of the Week
Global corporate bitcoin holdings increased by about 80,000 BTC in April 2025 to an estimated total of 750,000 BTC as of 28 April, according to data from Bitwise. Strategy (formerly Microstrategy), the largest corporate holder of bitcoin, contributed significantly to the increase by adding 25,370 BTC this month. 15 new public companies also added the digital asset to their reserves in April, as compared to only nine companies in March. This reflects a growing institutional adoption and interest in Bitcoin.
Weekly Performance
BTC and ETH increased by +1.6% and +2.0%, respectively, in the past seven days. A majority of large-cap tokens decreased in price as investors braced for the Fed’s upcoming interest rate decision.
All key categories decreased in market capitalisation in the past seven days, except for the Layer-1 category.
Jupiter’s Ultra v2 went live with features that include real-time slippage estimate (v2), exponential moving average calculations for price volatility, and gasless support for trading.
As of 5 May 2025 Sources: Crypto.com Research, Crypto.com Price, CoinGecko, protocols’ websites
News Highlights
Crypto.com / Cronos News
Selected merchants at the Formula 1 Crypto.com Miami Grand Prix will utilise Crypto.com Pay for payments. This marks the first time cryptocurrencies will be accepted for food and beverage purchases by participating vendors.
Crypto.com partnered with Green Dot Corporation (NYSE: GDOT) to offer new banking and money management features to Crypto.com’s US customers. Crypto.com will leverage Green Dot’s Arc platform for on- and off-ramp, enabling customers to fund accounts using US dollars. The company will also launch a new interest-earning savings vault powered by Arc.
Three major institutions in Abu Dhabi, including sovereign wealth fund ADQ, First Abu Dhabi Bank (FAB), and International Holding Company, partnered to launch a new dirham-pegged stablecoin. The stablecoin is pending regulatory approval and will be regulated by the United Arab Emirates’s (UAE) central bank if approved.
BlackRock filed to create digital ledger technology (DLT) shares to track its BLF Treasury Trust Fund (TTTXX), which invests mainly in US Treasury bills and cash. The shares can only be purchased from BlackRock Advisors and the Bank of New York Mellon (BNY), and the firm intends to use blockchain technology to maintain a mirror record of share ownership for investors.
21Shares filed to list a spot SUI ETF with the US SEC. This came after 21Shares’s Sui staking exchange-traded product (ETP) began trading within Europe in July 2024.
Grayscale launched the Grayscale Bitcoin Adopters ETF, an investment product that tracks companies with a bitcoin treasury or holding strategy across seven business sectors, including bitcoin mining firms, automotive companies, and energy.
Canary Capital filed to list a staked SEI ETF with the US SEC, aiming to offer direct exposure to SEI while potentially offering additional yield by staking a portion of its assets.
Wall Street On-Chain Part 2 – RWA Tokenisation: Real-world asset (RWA) tokenisation is revolutionising traditional finance by bringing liquidity, efficiency, and accessibility. This report explores tokenisation by asset classes, including institutional adoption and regional initiatives, as well as RWAs by chain.
Research Roundup Newsletter [March 2025]: We present to you our latest issue of Research Roundup, featuring our deep dives into Crypto Card Consumer Spending Insights 2024 and RWA Tokenisation.
Your feedback helps make our reporting more insightful. Tell us how we can improve this newsletter by taking the survey below. It will take less than a minute of your time. Thank you!
The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties.
This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement.
The brands and the logos appearing in this report are registered trademarks of their respective owners.
📈 Global corporate bitcoin holdings increased by around 80,000 BTC in April; Selected merchants at the Formula 1 Crypto.com Miami Grand Prix will utilise Crypto.com Pay for payments
Global corporates added ~80,000 BTC in April; Crypto.com will integrate Crypto.com Pay at the Formula 1 Crypto.com Miami Grand Prix; Crypto.com partnered with Green Dot to offer new banking features
