Weekly Crypto Round-up for March 22 – March 28, 2025

A comprehensive overview of the week's events, updates and movements in the crypto space to stay up-to-date on the most important crypto stories and market-shaping events.

1. KEY TAKEAWAYS

• BlackRock's Global Allocation Fund doubles Bitcoin ETF holdings
• NYSE parent ICE partners with Circle
• US Senator proposes historic government Bitcoin acquisition bill
• Trump launches his USD1 stablecoin
• Dogecoin reserve goes live with 10 million DOGE
• Japan grants first approval for dollar-backed stablecoin

2. CONTENT

💸 BlackRock’s Global Allocation Fund disclosed $47.4 million in Bitcoin ETF holdings in a new filing with the US Securities and Exchange Commission (SEC). The $11 trillion asset manager has increased its iShares Bitcoin Trust (IBIT) shares by 91%. The move is a part of a continued investment strategy, as holdings have increased from just 43,000 shares in April of 2024 to more than 390,000 shares added at the start of this year. As the largest asset manager in the world, BlackRock has been firmly pro-Bitcoin, embracing digital assets as an investment.

🌐 Intercontinental Exchange, the parent company of the New York Stock Exchange, will explore uses of Circle's stablecoin and tokenized asset in new products. The two firms announced an agreement to explore ways for Circle's USDC stablecoin and USYC tokenized money market fund to integrate into derivatives exchanges, clearinghouses and other services. With stablecoin legislation expected in 2025, Intercontinental Exchange (ICE) is joining a roster of U.S. traditional financial giants pushing into crypto under the Trump administration.

📊 Senator Cynthia Lummis reintroduced the BITCOIN Act with changes in the 119th Congress with the backing of new co-sponsors. The new version of the landmark bill will allow the government to potentially hold more than 1 million BTC as part of its newly established reserve.

Republican Senators Jim Justice, Tommy Tuberville, Roger Marshall, Marsha Blackburn and Bernie Moreno are among the co-sponsors, supporting the bill that introduces a formal evaluation process for Bitcoin forked assets and airdropped assets in the reserve.

️🌎 President Trump has officially dropped a stablecoin pegged 1:1 with the US dollar. In a statement from his family company World Liberty Financial Inc. (WLFI), he announced USD1.

The token is fully backed by short-term US government treasuries, USD deposits, and other cash equivalents with every token equal to one dollar. It will launch on Ethereum and Binance Smart Chain, with plans to hit other blockchains soon, giving people a stablecoin that is easy to interact with and use.

📉 House of Doge has launched a 10 million Dogecoin reserve, valued at $1.83 million. The intent is to enhance the meme coin’s adoption as a practical payment method, using it as a liquidity pool to streamline global merchant transactions rather than a financial hedge.

This initiative aims to facilitate seamless transactions for merchants worldwide, positioning Dogecoin as a practical alternative for everyday purchases. By prioritizing adoption over investment, House of Doge seeks to bridge the gap between crypto’s volatile reputation and tangible economic use, leveraging the coin’s loyal community and widespread recognition to drive global merchant integration.

💲 Japan is embracing its first legally recognized dollar-backed stablecoin with Circle’s USDC. The government authorized SBI Holdings, a major financial services firm, to facilitate the integration of a regulated digital asset into the country's financial ecosystem.

This initiative signals a change in Japan’s traditionally cautious approach to cryptocurrencies with the intent to enhance cross-border payments and digital transactions. Backed by stringent compliance with Japan’s Payment Services Act, the initiative leverages SBI’s extensive banking network to ensure USDC’s stability and accessibility. A move that will position Japan as a leader in Asia’s growing stablecoin market while fostering trust among businesses and consumers.

3. MARKET MOVES

📈 In the last 24 hours, Bitcoin's price moved -2.39% to $85.30k and trading volume moved +14.56% to $29.23b.

The crypto market remains as dynamic as ever, with new opportunities coming up every day. Whether you’re a seasoned trader, an investor or a beginner, this is your chance to stay ahead in the world of crypto.

Register on Freedx for insights, trends, and exclusive updates delivered straight to your inbox!

The information does not constitute financial advice or recommendation and should not be considered as such. All content, including opinions and analyses, is intended for educational purposes only. It should not be considered as solicitation or recommendation for any investment decisions. We encourage you to conduct your own research prior to investing.