⚖️ Bitcoin's one-year volatility remains stable, suggesting long-term investor confidence; The White House cleared a proposal allowing digital assets and alternatives in 401(k) plans

Quick Take

• Bitcoin's one-year volatility remains stable, suggesting long-term investor confidence; The White House, via the Office of Information and Regulatory Affairs, cleared a Department of Labor proposal allowing digital assets and other alternative investments in 401(k) retirement plans; BNP Paribas launched six Bitcoin and Ether exchange-traded notes (ETNs) in France, broadening retail access to digital assets through regulated securities accounts.
• U.S. spot BTC ETFs had a net outflow of $296 million last week, down from a $91 million inflow the week prior. Spot ETH ETFs saw a net outflow of $206 million in the same period, up from the $60 million outflow the week prior.
• Brent crude continued a historic monthly rally, surging over 50% since the start of March to trade near US$120 per barrel amid the ongoing Strait of Hormuz closure. Following the last Fed meeting, U.S. markets adjusted to a "hawkish pause" narrative; Treasury yields hit new cycle highs — with the U.S. 10-Year Treasury Yield reaching 4.40% — as investors priced in fewer 2026 rate cuts. Japan's core consumer price growth slowed for the third consecutive month in February 2026, falling to 1.6% year-on-year, marking the first time it has dropped below the Bank of Japan’s (BOJ) 2% target since March 2022. The OECD maintained its 2026 global GDP growth forecast at 2.9%, though it warned that escalating Middle East tensions are "testing the resilience" of this figure; OECD also raised its 2026 G20 inflation forecast to 4.0% (up 1.2 percentage points) amid persistent energy price shocks.
• Notable updates: Bittensor (TAO) surged after Nvidia CEO Jensen Huang's endorsement. Franklin Templeton and Ondo Finance launched tokenized ETFs for 24/7 trading of U.S. equities, bonds, and gold via crypto wallets, initially for non-U.S. investors. LayerZero integrated with the institutional Canton Network for compliant cross-chain movement of tokenized assets. Ripple is piloting automated cross-border trade payments using its RLUSD stablecoin via Singapore's MAS BLOOM initiative with Unloq. The Solana Foundation is pursuing institutional adoption by promoting customizable privacy controls.

Research Dashboard

According to our research dashboard, the price, volume and volatility indices declined by -3.62%, -14.93% and -10.58%, respectively, last week. 

Token prices in the index mostly decreased. BTC and ETH prices declined by -2.8% and -3.4%, respectively, coinciding with the broader market correction.

TAO and ONDO led both the price and volume surge. The Bittensor (TAO) ecosystem surged following a public endorsement from Nvidia CEO Jensen Huang, fueling a significant rally in AI-related decentralized tokens.  Franklin Templeton partnered with Ondo Finance to launch tokenized ETFs that offer 24/7 trading of U.S. equities, bonds, and gold via crypto wallets, initially targeting non-U.S. investors in Europe, Asia-Pacific, and Latin America.

Chart of the Week

Bitcoin's realized volatility has significantly increased in the short term, with three-month and six-month figures reaching 107% and 148%, respectively. However, one-year realized volatility remains remarkably stable at around 180%, maintaining its multi-year downward trend. This suggests that despite the "noisy" price action driven by Middle East conflict and a hawkish Fed pivot, Bitcoin’s structural risk profile hasn't fundamentally changed for long-term holders.

The overall investor sentiment is currently risk-off, driven by wider market anxieties including surging oil prices, rising Treasury yields, and diminishing expectations of Fed rate cuts.

Weekly Performance

Top-cap tokens all fell last week, except for the meme coins. 

AI and Meme led the market capitalization increase in the last seven days.

Notable Updates

News Highlights

Regulation

• The White House, via the Office of Information and Regulatory Affairs, cleared a Department of Labor proposal that facilitates the inclusion of digital assets and other alternative investments in 401(k) retirement plans, marking a major shift toward broadening retail access to crypto-linked retirement savings.
• The Commodity Futures Trading Commission (CFTC) launched an Innovation Task Force to develop regulatory frameworks for emerging technologies, focusing on the oversight of cryptocurrencies, AI, and prediction markets.

Adoption

• BNP Paribas expanded its retail investment offerings in France by introducing six Bitcoin and Ether ETNs, allowing individual investors to gain exposure to digital assets through regulated securities accounts.
• Franklin Templeton and Ondo Finance launched tokenized ETFs that offer 24/7 trading of U.S equities, bonds, and gold via crypto wallets, initially targeting non-U.S. investors in Europe, Asia-Pacific, and Latin America.
• The New York Stock Exchange (NYSE) entered into an agreement with SEC-registered transfer agent Securitize to develop a tokenized stock platform, signaling a major move by the world’s largest stock exchange to integrate blockchain technology into regulated equity trading.

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