Trump Signs Executive Order for Strategic Bitcoin Reserve
White House Chief Cryptocurrency Officer David Sacks announced that President Donald Trump has signed an executive order to create a strategic Bitcoin reserve. The reserve will be funded from Bitcoins seized through civil and criminal asset forfeiture, and the government will not sell them. The Secretaries of Treasury and Commerce will have the authority to develop strategies to acquire more Bitcoin through budget-neutral means.
Texas Senate Approves Bitcoin Strategic Reserve Act
The Texas Senate passed SB 21, a bill that would allow the state to invest some of its public funds in digital assets, particularly Bitcoin. Texas Governor Dan Patrick stated that this step is a bold example for other states. Similarly, the New Hampshire Bitcoin Act was also passed by the House Committee. But similar initiatives in Utah and some other states are facing setbacks.
Trump Prepares to Issue Crypto-Related Executive Orders
According to Bloomberg, at the Cryptocurrency Summit to be held tomorrow at the White House, the Trump administration may announce that it will use government confiscated Bitcoins to create a national reserve instead of selling them. In addition, regulations on the tax treatment of cryptocurrencies are expected to be on the agenda.
Bitwise’s Bitcoin and Gold Hybrid ETP Opened for Trading in Europe
Wealth management company Bitwise has launched a hybrid exchange-traded product (ETP) that includes Bitcoin and gold. The Bitwise Diaman Bitcoin & Gold ETP (BTCG) has started trading on the Euronext Paris and Amsterdam exchanges. BTCG will be able to dynamically allocate assets between Bitcoin and gold based on market conditions.
Uniswap’s Cumulative Trading Volume Exceeds $2.5 Trillion
According to Token Terminal data, Uniswap’s total trading volume has surpassed $2.5 trillion. Growing rapidly from 2021, Uniswap has strengthened its position as one of the most important decentralized exchanges in the DeFi ecosystem.
US Bitcoin Spot ETFs Outflows 4 Days in a Row
US-based Bitcoin spot ETFs saw a net outflow of $134 million. Grayscale’s GBTC ETF had a single-day outflow of $34.5 million, bringing its total historical net outflow to $22.38 billion.
Ethereum Spot ETFs Outflows of $35.8 Million
US-based Ethereum spot ETFs experienced a total net outflow of $35.88 million as of March 6. The net asset ratio of Ethereum ETFs reached 2.99%.
by Darkex Research – 1 min read
