SEC Set to Review 70+ Crypto ETFs in 2025 as Strategy Buys $555M More Bitcoin

Circle, Coinbase, and BitGo Explore Bank Charters Amid Push for Stablecoin Regulation

Major crypto firms like Circle, BitGo, Coinbase, and Paxos are reportedly considering applying for U.S. bank charters or licenses, according to the Wall Street Journal. This move comes as the U.S. works to establish a legal framework for stablecoins, with Fed Chair Jerome Powell supporting regulatory clarity. The House Financial Services Committee recently advanced the STABLE Act and GENIUS Act—two competing bills aimed at regulating the stablecoin industry. While the STABLE Act emphasizes strict federal oversight and a moratorium on certain types of stablecoins, the GENIUS Act proposes a more flexible framework with strong AML requirements. A bank charter would allow crypto firms to offer banking services but would also subject them to heightened regulatory scrutiny, as seen with Anchorage Digital.

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Michael Saylor’s Strategy Buys Another $555M in Bitcoin, Bringing 2025 Total to 91,800 BTC

Strategy, led by Michael Saylor and one of the largest corporate Bitcoin holders globally, has purchased 6,556 BTC for $555.8 million between April 14 and 20 at an average price of $84,785. This brings its total holdings to 538,200 BTC, worth $36.5 billion, with an average acquisition cost of $67,766 per coin. The purchase was funded through recent stock offerings, including $547.7 million from 1.76 million common shares and $7.8 million from preferred shares. After a brief pause in early April, this marks Strategy’s second major acquisition this month, with 91,800 BTC bought in 2025 alone—17% of its entire Bitcoin portfolio.

MANTRA CEO to Burn 150M OM Tokens After Price Crash, Aiming to Rebuild Trust and Boost Staking Rewards

John Patrick Mullin, CEO of real-world asset-focused blockchain MANTRA, announced he will burn his personal allocation of 150 million OM tokens to restore community trust following a severe price crash. The move comes after OM plunged over 90% on April 13, wiping out more than $5 billion in market cap. MANTRA cited “reckless liquidations” as the cause and denied any team sales during the turmoil. Mullin’s decision, supported by over 81% of voters in an X poll, could increase to 300 million burned tokens through discussions with partners. The burn, set to complete by April 29, will reduce the network’s bonded ratio and raise staking APR.

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SEC to Review Over 70 Crypto ETFs in 2025, From Memecoins to Derivatives, Amid Rising Institutional Interest

The US SEC is set to review more than 70 cryptocurrency ETFs this year, ranging from altcoins like XRP and Solana to memecoins and derivative-based funds, according to Bloomberg’s Eric Balchunas. The growing list reflects heightened institutional interest, with over 80% of firms planning to increase crypto allocations in 2025, per a Coinbase and EY-Parthenon survey. However, analysts caution that ETF approval doesn’t guarantee adoption, especially for less mainstream assets. While Bitcoin ETFs have attracted over $100 billion, altcoin ETFs are expected to see significantly lower inflows. Derivatives-based ETFs, particularly those offering options exposure to Bitcoin and Ethereum, may see stronger uptake due to their flexibility in portfolio strategies. Meanwhile, ARK Invest has added staked Solana to two of its existing ETFs, offering US investors their first spot SOL exposure through an ETF.

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