Market report for traders
đź”® BTC, ETH, and Altcoins
Over the last 7 days, Bitcoin ends at AU$145,275 moving +10.57% at the time of writing. Meanwhile, Ethereum ends at AU$2,768 moving +10.08% week-on-week. On the Altcoin side, Solana +16.76%, Dogecoin +16.76%, and XRP +4.69% change.
🗞 What’s happening in the news?
🏛️ Over 70 Crypto ETFs Await SEC Approval in 2025 - Bloomberg
According to Bloomberg, over 70 cryptocurrency ETF applications are currently awaiting approval from the US Securities and Exchange Commission.
According to an X post on April 21 by Bloomberg analyst Eric Balchunas, the list includes ETFs holding a range of assets “from XRP, Litecoin and Solana to Penguins, Doge and 2x Melania and everything in between”.
The surge in applications comes amid increasing institutional appetite for crypto. A joint report by Coinbase and EY-Parthenon indicates that over 80% of institutions plan to expand their crypto allocations in 2025. While Bitcoin ETFs have already attracted more than AU$156 billion in net assets since their approval, some analysts are expecting altcoin-focused ETFs to see much smaller inflows.
đź”· Ethereum Foundation Refocuses on User Experience
Following a leadership restructure in March, the Ethereum Foundation has shifted its focus toward improving user experience and layer-1 scalability. Co-executive director Tomasz Stańczak said the change allows co-founder Vitalik Buterin to step back from day-to-day operations and concentrate on long-term research and innovation.
“Each time Vitalik shares insights or communicates a direction, he accelerates major long‑term breakthroughs,”
Stańczak said, emphasising the value of Buterin’s strategic input. In April, Buterin published proposals to enhance both privacy and performance on the Ethereum network, including improvements to the Ethereum Virtual Machine. Stańczak added that the foundation is now working on a series of upgrades aimed at boosting speed, scalability, and usability—many of which could begin rolling out within the next one to two years.
⚖️ Brazilian Crypto Fraud Trio Sentenced to 170 Years for AU$295M Ponzi Scheme
Three Brazilian men behind crypto firm Braiscompany have been sentenced to 170 years in prison for defrauding over 20,000 investors. Prosecutors said they promised fake returns on Bitcoin investments, collecting more than AU$295 million. Joel Ferreira, the ringleader, received 128 years. Authorities ordered the group to repay AU$9.8 million, and seized several assets. The scam has been labelled Brazil’s largest crypto fraud. Despite this, Brazil remains a leading crypto market in Latin America, with strong adoption and the region’s most active Bitcoin ETF scene.
📖 What we’ve been reading
Bitcoin whales, pundits continued to stack throughout April, data shows
Over 60 big bag Bitcoin holders were added throughout March and April as the price of Bitcoin slumped.
NFT project plans crowdfunded purchase of Cold War nuclear bunker
The pseudonymous co-founder of Dead Bruv, said the initiative was about trying to “make NFTs fun again” and was sparked by a joke that turned into a “lightbulb moment.”
Strategy Buys $555M of Bitcoin, Increases Total Stash to 538,200 BTC
The company has spent $36.47 billion on bitcoin to date and remains the largest corporate holder of BTC.
*Disclaimer: The information provided is for educational purposes and does not constitute financial product advice. You should obtain independent advice from an Australian financial services licensee before making any financial decisions.*
