BlackRock will launch a Bitcoin ETP in Europe, daily ETH burn hits a new low.

Bitcoin

BlackRock to Launch Bitcoin ETP in Europe

BlackRock will launch a Bitcoin exchange-traded product in Europe, iShares Bitcoin ETP, which is set to be listed on Xetra and the Paris Euronext on Tuesday local time, with the stock code IB1T; in addition, this ETP will also be listed on the Amsterdam Euronext, with the stock code BTCN.

Bitcoin dominance rises to 58.8%, reaching a new high since early 2021

Bitcoin's dominance rate (the proportion of total crypto market value) rose from 51% in December last year to 58.8%, reaching a new high since early 2021, breaking the market's expectations for an "altcoin season." Traditional theory holds that after a rise in Bitcoin, funds will rotate into high-risk altcoins, but this cycle has seen structural changes: institutions continue to increase holdings: companies like MicroStrategy are issuing shares to raise funds to buy BTC, creating sustained buying pressure; a proliferation of new tokens is diverting liquidity from altcoins; and the ETF effect is differentiated: Bitcoin and Ethereum spot ETFs are accumulating, but have not driven a widespread surge in other altcoins. Analysts point out that the altcoin market may be delayed rather than disappearing, and breakthroughs in fields such as RWA and AI will still attract fund rotation.

GameStop plans to privately issue $1.3 billion of convertible preferred notes to purchase Bitcoin

GameStop announced plans to privately issue $1.3 billion of 0.00% convertible senior notes (due 2030) to qualified institutional investors. Depending on market conditions, the company may also grant the initial purchasers an option to purchase up to an additional $200 million of notes within 13 days. GameStop stated that the proceeds will be used for general corporate purposes, including the purchase of Bitcoin in accordance with the company's investment policy.

GameStop incorporates Bitcoin into its treasury reserve assets

Game retailer GameStop updates its investment policy to include Bitcoin in its treasury reserve assets. The document states that "the company's investment policy allows for investments in certain cryptocurrency assets, including Bitcoin and US dollar stablecoins. If the company acquires Bitcoin or US dollar stablecoins, the company will face specific risks associated with Bitcoin or stablecoins; as well as the company's ability to maintain effective internal financial reporting controls."

The North Carolina Bitcoin Investment Act will create an investment management bureau that will invest 5% of the funds within the state into digital assets

Bitcoin Laws disclosed the details of the Bitcoin investment bill in North Carolina, namely House Bill 506, which will create a new independent North Carolina Investment Management Authority (NCIA), led by the state treasurer. The NCIA will have the authority to invest 5% of various state funds into digital assets. North Carolina's HB506 bill does not truly create a 'Bitcoin reserve'. Conceptually, North Carolina's HB506 bill may be closest to two bills in Florida: HB 487 and SB 550. These bills authorize state-level public funds to invest in Bitcoin, but do not create a reserve (for example, there are no mandatory holding requirements).

Kentucky officially signs the Bitcoin Rights Act, ensuring the rights to self-custody and node operation

The Governor of Kentucky, USA, officially signed the HB701 bill into law on March 24 local time, safeguarding the rights of residents to use digital assets, self-custody wallets, and run blockchain nodes. The bill explicitly excludes such activities from money transmission licensing and securities regulation, and restricts local governments from discriminatory management of related technological activities.

Ethereum

Ethereum network's daily ETH burn reached a historic low last Saturday

According to data from The Block, last Saturday the Ethereum network only destroyed 53.07 ETH in a single day, which is worth about $106,000 at current prices, marking a historical low. This indicates a significant reduction in demand for Ethereum block space. Ethereum's EIP-1559 change simplified the transaction fee process while requiring the network to burn all ETH used to pay for the base transaction fee. This mechanism aims to reduce inflationary pressure and may make Ethereum a deflationary asset during peak network activity. Additionally, the seven-day moving average of active addresses recently fell to its lowest value since October 2024. In recent weeks, the number of new address creations, transaction volumes, and daily transaction counts have also decreased.

The US spot Ethereum ETF saw a net inflow of $4.7 million yesterday

According to FarsideInvestors monitoring, the US spot Ethereum ETF saw a net inflow of 4.7 million dollars yesterday.

Ethereum Core Developer Terence: The Ethereum Testnet Pectra is scheduled to launch on the mainnet on April 30

According to Ethereum core developer Terence's post on X, the Ethereum testnet Pectra is tentatively set to launch its mainnet on April 30. Waiting for the next core developer to resolve some unresolved minor issues and conduct a comprehensive confirmation.

Vitalik transferred 250 ETH into the privacy protocol RAILGUN 7 hours ago.

According to on-chain analyst Yu Jin's monitoring, Vitalik transferred 250 ETH worth 50 million USD into the privacy protocol RAILGUN 7 hours ago. Vitalik actually uses RAILGUN quite often for fund transfers, and he seems to have mentioned before that these funds are generally used for donations.

BlackRock BUIDL fund's capital deployment on Ethereum has exceeded $1 billion

Token Terminal data shows that the BlackRock BUIDL fund has deployed over $1 billion on the Ethereum chain, currently reaching approximately $1.145 billion. The BUIDL fund mainly focuses on tokenizing real-world assets (RWA) and diversifies its investments across chains such as Avalanche, Polygon, Aptos, Arbitrum, and Optimism, but Ethereum remains its core allocation. According to Nansen's analysis, since March 12, 2024, the number of addresses holding 1,000-10,000 ETH has increased by 5.65%, while the number of addresses holding 10,000-100,000 ETH has increased by 28.73%.

Other Projects

Oracle service Chronicle completes $12 million seed round financing

The Ethereum-based oracle service Chronicle has completed a $12 million seed round of financing, led by Strobe, with participation from Brevan Howard, 6th Man Ventures, and others. The new funds are intended to support its data infrastructure services for tokenized assets.

Market News: WLFI is suspected to issue the stablecoin USD1 on Ethereum and BNB Chain, and conduct functionality tests

On March 24, news reported that the WLFI project is suspected of issuing the stablecoin USD1 on Ethereum and BNB Chain, and is undergoing multiple functional tests, with Wintermute involved.

Trump family's crypto project WLFI plans to launch stablecoin USD1

The Trump family's cryptocurrency project World Liberty Financial Inc. (WLFI) officially announced plans to launch the stablecoin USD1, which can be exchanged 1:1 for the US dollar and will be 100% backed by short-term US government bonds, dollar deposits, and other cash equivalents. It will initially be minted on the Ethereum and BSC blockchains, with plans to expand to other protocols in the future. It is reported that the USD1 reserves will be custodied by BitGo.

World Network is in talks with Visa regarding stablecoin payment wallets

According to sources, OpenAI founder Sam Altman's World Network is in talks with payment giant Visa regarding a stablecoin payment wallet. It is reported that Tools for Humanity, the company responsible for regulating Worldcoin and World Network, has sent a product form request to credit card issuer Visa. According to informed sources, World Network is a blockchain-based ecosystem designed to expand the functionality of the biometric identification system Worldcoin and is in contact with Visa or plans to link the on-chain card functionality with self-custody crypto wallets.

Abu Dhabi ADGM collaborates with Chainlink to develop a compliant tokenization framework

The Abu Dhabi International Financial Centre (ADGM) has announced that it has signed a memorandum of understanding with Chainlink to collaborate on a compliance framework for tokenized assets. This partnership will enable the Abu Dhabi International Financial Centre to utilize Chainlink's suite of blockchain tools, including price feed data support and interoperability services, to promote blockchain innovation under its registered entities.