Weekly Update: 2nd of April
What happened between March 27 and April 2?
- The crypto market continues its sideways movement, but March closed as the first positive month for Bitcoin ETF inflows since October. Read more
- Tether announces a partnership with KPMG for a recognised audit of its reserve position — a milestone for the world’s largest stablecoin. Read more
- Intercontinental Exchange (ICE), the parent company of the NYSE, invests another $600 million in prediction platform Polymarket. Read more
- Franklin Templeton, one of the world’s largest asset managers, acquires Coinfund spin-off 250 Digital, and launches a crypto division. Read more
Market stays sideways, but March closes positive for Bitcoin ETFs
The crypto market continued its sideways trend through the past week, with Bitcoin trading in a narrow range and the total market capitalisation remaining broadly stable around $2.6 trillion. Altcoins largely tracked Bitcoin without meaningful independent price moves.
March closed with net positive Bitcoin ETF inflows — the first time since October 2025 — led by BlackRock (IBIT), Fidelity (FBTC) and Ark Invest (ARKB). The result shows institutional investors are willing to add to positions even at lower price levels, though whether this continues into April depends in part on macroeconomic uncertainty around tariffs and interest rates.
Tether selects KPMG for its first recognised audit
Tether, issuer of USDT with a circulation of over $140 billion, has announced a partnership with KPMG for a formal, recognised audit of its reserve position. Until now, Tether relied on quarterly attestations by Italian firm BDO — widely criticised as insufficiently transparent.
The move to a Big Four auditor clears the path for USDT in regulated contexts, from banks to institutional asset managers who have long been cautious about Tether’s opacity. The timing is deliberate: both MiCA in Europe and upcoming US stablecoin legislation require reserve transparency, and Tether is positioning itself ahead of those requirements.
NYSE parent company invests another $600 million in Polymarket
Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, has made a further $600 million investment in Polymarket. Following an earlier $45 million stake in 2024, ICE becomes the platform’s largest institutional shareholder, with Polymarket’s post-round valuation reaching several billion dollars.
Polymarket is a decentralised prediction platform that processed over $3 billion in volume during the US elections of November 2024. For ICE — which operates exchanges, clearinghouses and data infrastructure — the investment reflects a strategic bet that prediction markets will occupy a meaningful place alongside traditional derivatives markets.
Franklin Templeton acquires 250 Digital
Franklin Templeton is taking another step in its digital asset strategy through the planned acquisition of 250 Digital. 250 Digital is a specialised crypto investment unit that originated from CoinFund. Through the deal, Franklin Templeton is not only bringing the 250 Digital team in-house, but also the liquid crypto strategies previously managed under CoinFund. These activities will be housed within a newly formed division: Franklin Crypto.
The move underlines how the institutional market for digital assets continues to professionalise. In a market that remains volatile, this step shows that major financial players are using the current environment to strengthen their position further, with a sharper focus on scale, distribution, and institutional access to crypto.
In other digital assets news
- CoinShares, the publicly listed European crypto asset manager, has announced a SPAC deal that will take it to the Nasdaq at a valuation of $1.2 billion. The listing gives CoinShares access to the US capital market and a broader pool of institutional investors.
- Debate over the threat posed by quantum computers to Bitcoin’s cryptographic security has intensified following a new Google report on its quantum chip project. Experts remain divided on the timeline but growing computational power makes the topic more pressing than a year ago.
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