BlackRock launched a staked Ether exchange-traded fund on Thursday, expanding its crypto offerings beyond its flagship spot Bitcoin and Ether ETFs that launched in 2024. BlackRock’s digital assets head, Robert Mitchnick, said the $14 trillion asset manager won’t get too creative with the types of crypto exchange-traded funds it offers, even as it launched a staking-focused Ether ETF on Thursday. Speaking on CNBC’s Crypto World segment on Friday, Mitchnick acknowledged that some of the crypto ETF structures that other asset managers are experimenting with may appeal to certain investors, but said BlackRock will continue to take a more measured approach: "Will we see some more exotic structures coming into the space? I think no question,” Mitchnick said. “Some of those will be interesting. Some of them will resonate with investors.” Read more
Stanley Druckenmiller said stablecoins are more efficient, faster and cheaper than fiat running on traditional banking infrastructure. Billionaire investor Stanley Druckenmiller said blockchain and stablecoins may only be a decade away from powering the global payments system — though he isn’t sold on the idea of crypto functioning as a store of value. In an interview with Morgan Stanley recorded on Jan. 30 and released on Friday, the former hedge fund manager said blockchain-based tokens — particularly stablecoins — boost productivity in the payments space: "Blockchain and the use of stablecoins, if you want to throw crypto into that, tokens, incredibly useful in terms of productivity," Druckenmiller said. Read more
Bitcoin showed remarkable strength throughout the week, but BTC’s correlation to tech stocks and its reactive spot ETF flows suggest the bear market isn’t over yet. Key takeaways: Bitcoin sits above $71,000 as weak US economic data and the US and Israel-Iran war drive investors toward scarce assets. Tech stocks’ correlation to BTC and rising oil prices suggest that the 5-month correction from $126,000 might not be over. Read more
One judge sided with Custodia Bank, stating that a master account is “indispensable” for a bank’s day-to-day operations and being denied one is “akin to a death sentence.” A US federal court has rejected Custodia Bank’s final attempt to challenge the Federal Reserve’s authority over granting master accounts — effectively ending the crypto-focused bank’s five-year-long battle for direct access to the central bank’s payment system. The US Court of Appeals for the Tenth Circuit said in a filing on Friday that it wouldn’t hear Custodia's final appeal on that point in a 7-3 vote. Custodia first applied for a master account in October 2020, which allows financial institutions to hold reserves directly at the Federal Reserve and access its payment rails, enabling them to settle transactions without relying on intermediary banks. Read more
The Bitcoin Policy Institute said the bipartisan support for a de minimis tax exemption for smaller Bitcoin transactions is "encouraging." The Bitcoin Policy Institute (BPI), an industry advocacy group, is eyeing a target window between March and August 2026 to pass a de minimis tax exemption for Bitcoin through Congress, warning that time to pass meaningful legislation is running out. BPI said it has engaged with 19 Congressional offices in both the House and Senate over the last three months to pitch US lawmakers on a tax exemption for Bitcoin (BTC) transactions below a certain threshold. Expanding the de minimis tax exemptions beyond dollar-pegged stablecoins has bipartisan support, but the BPI warned that the “window is narrowing” for Bitcoin tax legislation. The BPI said: Read more
Analysts at the investment company said the change was significant because the stablecoin “winner” will be the one people use for everyday transactions. Japanese investment bank Mizuho reported that stablecoin issuer Circle’s USDC overtook Tether’s USDt in transaction volume for the first time since 2019. In a research note released on Friday, Mizuho said it had raised its price target for Circle stock from $100 to $120 after comparing transaction volumes between the two major stablecoins. According to Mizuho, USDC (USDC) had about $2.2 trillion in adjusted transaction volume for the year to date, compared with USDt (USDT) at $1.3 trillion. “The data shows USDC vs. USDT volumes at 64% market share,” said Mizuho. This is a reversal in a long-term trend of USDT volumes surpassing USDC in 2019-2025.” Read more
Ether bulls appear to be targeting $2,800 as their next stop, but ETH futures data shows a divided market with limited odds for a sustained 33% rally. After reaching a monthly high of $2,209 on Friday, Ether (ETH) price fell back below a key monthly resistance, which has been tested five times since February. While onchain data highlights a large cluster of investors near $2,800, Ether’s futures market data shows traders are scaling back positions after this week’s rally. Data from Glassnode indicated that ETH’s cost-basis distribution heatmap shows a heavy accumulation near $2,800, where more than 3 million ETH were previously purchased. Read more