Market Overview
Bitcoin’s price has risen 33% since the April 2024 halving, while Canada made history with the world’s first staking-enabled Solana ETFs. Meanwhile, JPMorgan’s blockchain division, Kinexys, expanded its services with GBP-denominated deposit accounts in the UK.
Key Highlights
- Bitcoin ETFs: U.S. spot Bitcoin ETFs recorded a net inflow of $395 million over five trading days, reversing the previous week’s $708 million outflow.
- Ether ETFs: Spot Ether ETFs saw an eighth consecutive week of outflows ($58 million).
- Macro Trends: Fed Chair Powell warned of potential inflation from new tariffs but signaled openness to easing crypto regulations for banks. The probability of a May U.S. rate cut dropped to 9% (from 21%).
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Bitcoin’s Post-Halving Performance
Bitcoin’s price surged 33% post-2024 halving, peaking at $108,000 in January 2025 (~275 days later). Historical cycles show similar trends:
– 2016 Halving: Peak after 524 days.
– 2020 Halving: Peak after 546 days.
Drivers: Institutional adoption and regulatory optimism fueled growth.
Weekly Crypto Performance
Token | Change (7D) | Notable Events |
---|---|---|
BTC | +3.6% | Institutional ETF inflows |
ETH | -3.7% | Vitalik’s RISC-V proposal for Ethereum |
SOL | +6.6% | Launch of Solana ETFs in Canada |
Top Gainers:
– Polygon (POL): +9.1% (partnered with Reliance Jio for blockchain integration).
– Bitcoin Cash (BCH): +6.7%.
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Notable Updates
Adoption & Regulation
- JPMorgan’s Kinexys: Launched GBP blockchain accounts for 24/7 cross-border transactions.
- Panama City: Approved crypto payments (BTC, ETH, USDC, USDT) for taxes.
- Slovenia: Proposed 25% crypto gains tax starting 2026 (exempting swaps).
Investment Vehicles
- Canada: Purpose Investments and CI Global launched staking-enabled Solana ETFs (SOLL, SOLX).
- Hong Kong: Huaxia Fund to offer staking for its Ether ETF from May 15.
- VanEck: Planning NODE ETF targeting crypto equities (exchanges, miners).
FAQ
Q: How does Bitcoin’s post-halving performance compare historically?
A: The 2024 cycle saw a faster price peak (275 days) vs. 2016 (524 days) and 2020 (546 days).
Q: What’s unique about Canada’s Solana ETFs?
A: They’re the first to enable native staking, offering yield alongside price exposure.
Q: How might U.S. tariffs impact crypto?
A: Powell flagged potential inflation, but crypto-specific rules could loosen for banks.
Research & Insights
- Crypto Card Spending 2024: Global consumer trends.
- RWA Tokenization: How blockchain is transforming traditional assets.
Data as of April 2025. Sources: Crypto.com, CoinGecko, The Block.
Disclaimer: This report is for informational purposes only and does not constitute financial advice.