Crypto Compass by BitcoinWalletSG #108

Hello Fam,

Crypto markets remain choppy as uncertainty looms, with recent tariff announcements adding to the turbulence. Traders are watching how these macroeconomic shifts impact risk assets, including Bitcoin, which continues to dominate the market.

Despite the volatility, Bitcoin dominance remains strong, signaling its resilience amid uncertainty. On a lighter note, we’re excited to announce our new @bitcoinwalletsg TikTok channel! Follow us there for bite-sized insights, market updates, and everything you need to navigate the crypto space.

Japan’s FSA Considers Classifying Crypto as Financial Products

Japan’s Financial Services Agency (FSA) is exploring new regulations that could categorize crypto assets as financial products, similar to securities. This move aims to improve investor protection by increasing disclosure requirements for businesses. The FSA is currently conducting a closed study session with experts and plans to announce regulatory reforms by June. If implemented, these changes could boost the potential for spot crypto ETFs in Japan, though the agency remains cautious about their approval.

Please email [email protected] for advertising & sponsorship enquiries.

@bitcoinwalletsg

#crypto #cryptosingapore #cryptowallet

Utah Advances Bitcoin Reserve Bill, Nearing Historic First

Utah is moving closer to becoming the first U.S. state with a Bitcoin reserve after its House passed the Strategic Bitcoin Reserve bill, which now heads to the Senate. The bill, introduced by Representative Jordan Teuscher, would allow the state’s treasurer to allocate up to 5% of certain public funds into Bitcoin, stablecoins, and other high-cap crypto assets. If approved, Utah could set a precedent for other states, including Arizona and New Mexico, which have similar bills in progress. Meanwhile, North Dakota recently rejected a bill that would have enabled state crypto investments.

BlackRock Increases Stake in MicroStrategy to 5%

BlackRock has boosted its stake in Strategy (formerly MicroStrategy) from 4.09% to 5%, according to an SEC filing dated Feb. 6, 2025. The asset management giant now holds 11.26 million shares, worth approximately $3.67 billion. This move aligns with Strategy’s aggressive Bitcoin accumulation, with the company currently holding 471,107 BTC, valued at over $46 billion. Despite this, Strategy recently reported a net loss of $670.8 million. BlackRock’s 5% stake required a Schedule 13G filing, indicating passive investment rather than an attempt to influence the company’s management.

Happenings of the week

• RWA tokenization is growing much faster than expected

• Crypto exchange Gemini considers a 2025 IPO

• Donald Trump Jr says crypto is 'the future of American hegemony'

• Franklin Templeton seeks SEC approval to launch a new crypto index ETF

SEC Delays Decision on BlackRock’s Ethereum ETF Options

The SEC has postponed its decision on BlackRock’s proposal to list and trade options on its spot Ethereum ETF, setting a new deadline for April 9, 2025. While BlackRock’s iShares Ethereum Trust was approved alongside other spot Ethereum ETFs last May, the agency is taking more time to assess the implications of allowing options trading. Critics, including Better Markets, warn that such derivatives could expose retail investors to greater risks. Meanwhile, the SEC has also requested public comments on a similar proposal from Fidelity, with responses due within 21 days of publication in the Federal Register.

If you enjoyed this issue, don’t forget to subscribe to our newsletter for more insights delivered straight to your inbox. Also, be sure to follow us on our social media platforms for real-time updates and exclusive content. Your security and success in the crypto space are our top priorities!