Weekly Update: 25th of April
What happened between the 17th and the 25th of April?
- The digital asset market saw a strong recovery with Bitcoin leading the way, while altcoins like TAO posted significant gains after weeks of decline and macroeconomic pressure. Read more
- Twenty One Capital launched with support from Tether and SoftBank and aims to operate as a strategic Bitcoin fund that also offers services to increase BTC per share. Read more
- Bitcoin ETFs saw nearly $1 billion in daily inflows on April 22 and 23, signaling a renewed wave of institutional investor confidence. Read more
Digital asset market rebounds after downward trend
The digital asset market saw a swift rebound last week after a sustained decline that began with President Donald Trump’s inauguration on January 20. Bitcoin led the rally, rising from around $84,000 on April 17 to over $94,000 on Wednesday, April 23. Large altcoins and some memecoins followed with more explosive gains, although many still have more ground to recover due to their sharper previous losses. One of the top performers was Bittensor (TAO), which surged roughly 50% since April 17.
The recovery between April 17 and 24 was driven by several factors. Positive news surrounding the easing of the trade war — including ongoing negotiations and a softer stance toward China — helped restore market confidence. At the same time, the U.S. dollar weakened, making scarce assets like Bitcoin more appealing as stores of value. Gold potentially hit a local top, often a signal of rising investor risk appetite.
Cantor Fitzgerald, Tether, and SoftBank launch Twenty One Capital
On April 22, 2025, Twenty One Capital was introduced as a new, influential player in the Bitcoin space. The company was founded by Brandon Lutnick, son of U.S. Commerce Secretary Howard Lutnick, and is backed by major entities such as SoftBank, Tether, and Bitfinex. Formed through a merger with Lutnick’s SPAC, Cantor Equity Partners, the firm starts with a reserve of 42,000 BTC — making it the world’s third-largest Bitcoin holder.
Inspired by MicroStrategy’s approach, the firm’s mission is to accumulate and manage Bitcoin as a strategic digital asset. Unlike traditional ETFs or firms like MicroStrategy, Twenty One Capital plans to offer its own Bitcoin services, using profits to increase the BTC value per share. This model aims to give shareholders rising exposure not only in USD terms but in Bitcoin as well.
Jack Mallers, known from the Bitcoin platform Strike, will lead the company. The launch marks a major step in institutional Bitcoin adoption and reflects growing interest from major financial players. The company plans to go public soon under the ticker ‘XXI.’
Bitcoin ETFs see massive inflows
On April 22 and 23, Bitcoin ETFs saw nearly $1 billion in daily inflows — levels not seen since President Trump’s inauguration. These inflows effectively reversed the net outflows seen between March 1 and April 21 in just two days. Interestingly, Ethereum continues to lag, with mixed inflows and outflows over recent days. Nevertheless, ETH saw a notable rise in both price and trading volume.
In other digital assets news
- Japanese firm Metaplanet purchased 145 BTC, bringing its total corporate holdings to over 5,000 BTC.
- Trumpcoin surged 70% after President Trump announced a dinner with top $TRUMP token holders.
- Rumors suggest Ethereum co-founder Vitalik Buterin may meet SEC Chairman Paul Atkins next week.
- ING is working with European banks on a euro-backed stablecoin that will comply with MiCA regulations.
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