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Grayscale unveils two BTC ETFs to harness volatility |
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Key points: |
Grayscale launched two Bitcoin ETFs—BTCC and BPI—designed to generate income through covered call strategies. Both funds aim to offer alternative revenue streams by leveraging Bitcoin's ongoing volatility.
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News - Crypto asset manager Grayscale has officially launched two new Bitcoin ETFs: the Bitcoin Covered Call ETF (BTCC) and the Bitcoin Premium Income ETF (BPI). The products, now trading on the New York Stock Exchange, are designed to offer investors income opportunities by writing call options on BTC ETFs, including Grayscale's own GBTC and BTC Mini Trust. |
BTCC will write options close to spot price, targeting consistent income and some downside buffer. BPI, meanwhile, writes options well out-of-the-money to maintain upside exposure while still generating potential dividends. Both strategies aim to serve investors looking for alternative yield in a volatile market. |
A yield-generating twist on BTC exposure - Grayscale says these income-focused strategies may appeal to investors seeking diversification away from traditional yield instruments. Monthly distributions and systematic options management are built into the products, providing a new approach for those who want to stay exposed to Bitcoin without relying solely on price appreciation. |
What you should know - After a 12% Q1 drop—the worst first quarter since 2018—Bitcoin's volatility remains a challenge. Yet, Grayscale's new ETFs flip that narrative, turning BTC's swings into structured income via systematic call-writing strategies. |
The launch comes amid a broader push by Grayscale to expand its ETF lineup. The firm recently filed to list a diversified spot crypto ETF and is pursuing ETF approvals for XRP, Cardano, Avalanche, and Litecoin products. With 28 crypto investment vehicles already listed, Grayscale is reinforcing its position as a leader in crypto fund innovation. |
Bitcoin's path forward: Crash incoming or $250K moonshot? |
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News - Bitcoin is balancing on a tightrope as macroeconomic forces test investor sentiment. After climbing 16% from a four-month low of $76,600 to nearly $89,000, BTC has struggled to reclaim the $85,500 resistance. Now, with U.S. President Donald Trump's "Liberation Day" tariffs in play, traders are bracing for turbulence. |
The new tariff regime includes a 25% levy on auto imports and broader duties against major trade partners. While designed to reduce the U.S. trade deficit, the move could spark inflation, strain global markets, and rattle risk-on assets like Bitcoin. Analysts warn a breakdown below $84K could lead BTC toward sub-$80K levels once again. |
Short-term chaos vs. long-term potential - Despite the near-term volatility, bullish bets are building. Veteran trader Arthur Hayes forecasts Bitcoin reaching $250,000 by year-end — but only if the U.S. Federal Reserve pivots to quantitative easing (QE). Hayes sees the recent reduction in Treasury runoff caps as a precursor and claims that rising fiat liquidity could drive Bitcoin's explosive growth. |
But sentiment remains split. While Hayes is aggressively accumulating BTC, Polymarket data shows only 9% of traders are backing the $250K scenario. Most are predicting a top closer to $110K by year-end. |
Market in holding pattern - For now, Bitcoin is caught between macroeconomic tension and future optimism. Analysts like Raoul Pal and Jamie Coutts suggest BTC could climb past $130K based on global money supply trends. Meanwhile, traders are watching key support zones at $84K and $80K to gauge market stability. |
April and May may serve as a calm-before-the-storm consolidation period. Whether BTC plunges or parabolas will likely hinge on the Fed's policy decisions — and how deeply tariffs cut into investor confidence. |
7-Eleven joins South Korea's CBDC pilot with discount push |
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7-Eleven South Korea now accepts CBDC payments until June 30, offering a 10% discount to users. Part of a broader national pilot involving 100,000 citizens and eight banks.
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News - 7-Eleven stores across South Korea are now accepting payments in the Bank of Korea's central bank digital currency (CBDC) as part of a major pilot program running from April 1 to June 30. Customers using the CBDC will receive a 10% discount on all products during the trial, according to the convenience chain's digital innovation head, Moon Dae-woo. |
The initiative is part of the country's broader effort to explore retail use cases for its CBDC, referred to as the "Hangang Project." In total, 100,000 participants aged 19 or older with deposit accounts at banks such as KB, Kookmin, Shinhan, Hana, and Woori will be eligible to test digital currency transactions using QR codes at participating retailers. |
CBDC adoption made easy - Shoppers can convert bank deposits into CBDC tokens of equal value to the Korean won, stored on a distributed ledger. During the trial, participants will be able to use these tokens at convenience stores, coffee shops, supermarkets, K-pop merchandise outlets, and more. A conversion limit of 5 million won (approx. $3,416) is in place to cap individual usage. |
The QR-based payment experience mirrors mobile wallet usage, making the transition seamless for users. The discount incentive is designed to boost real-world adoption during the three-month test. |
Laying the groundwork for a digital future - The CBDC pilot, launched by the Bank of Korea alongside the FSC and FSS, is viewed as a foundational step toward reshaping the country's monetary system. Originally scheduled for late 2024, the pilot was accelerated due to rising urgency around digital innovation. Authorities hope this experiment will lead to a prototype for a more efficient, digitally-driven economy. |
North Korea's fake devs infiltrate UK, EU crypto projects |
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Google's Threat Intelligence Group found North Korean IT operatives working in UK and EU blockchain firms. These workers used fake identities to secure roles in Solana, Anchor, and AI-based crypto projects.
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News - North Korean tech workers are infiltrating crypto projects across the UK and Europe, posing as legitimate developers to fund the regime's operations, according to a new report from Google's Threat Intelligence Group (GTIG). |
The April 2 report reveals that after increased scrutiny in the U.S., North Korean operatives have turned to blockchain companies abroad, embedding themselves into Solana-based platforms, AI-powered Web3 tools, and blockchain job marketplaces. |
Among the affected projects were a Nodexa token hosting platform built with CosmosSDK, and AI-enhanced apps using Electron and Tailwind CSS. In one case, a single worker operated under 12 separate identities using fake degrees and forged documents from Serbia and Slovakia. |
Espionage, extortion, and identity fraud - Jamie Collier, GTIG adviser, said the DPRK-linked developers are building a "global infrastructure" of fake personas, aided by facilitators in the U.S. and UK. These workers bypass verification checks using crypto wallets, money transfer services like Wise and Payoneer, and false passports. |
Since late October, extortion threats have surged. Developers who were fired after being exposed threatened to leak sensitive source code and internal data unless paid. In one incident, proprietary files were reportedly offered to competitors. |
"This places organizations that hire DPRK IT workers at risk of espionage, data theft, and disruption," Collier warned. |
Why it matters - The scheme not only jeopardizes internal security at blockchain startups but also helps finance North Korea's heavily sanctioned weapons program. The U.S. Department of Justice has already indicted two nationals for similar schemes targeting 64 U.S. firms, while the Treasury's OFAC has sanctioned related enablers in China and the UAE. |
Paradigm researcher Samczsun warns that these threats go far beyond Lazarus Group. Subgroups like TraderTraitor and AppleJeus now use fake job offers and BYOD vulnerabilities to target under-secured crypto firms globally. |
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More stories from the crypto ecosystem |
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Did you know? |
Over 70 countries are currently exploring or piloting central bank digital currencies (CBDCs), with some—like Nigeria and China—already launching national digital currencies to modernize payments and improve financial inclusion. Chain-abandoned crypto wallets from the early 2010s still hold billions in dormant Bitcoin, with nearly 1.5 million BTC estimated to be lost forever due to forgotten keys or lost access. Layer-2 solutions on Ethereum, such as Arbitrum and Optimism, now handle over 60% of Ethereum's total transactions, reducing fees and boosting scalability across DeFi and gaming ecosystems.
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Crypto's Most Influential Event |
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Consensus is the world's longest-running gathering of the global crypto, blockchain, and AI communities. |
Celebrated as 'The Super Bowl of Blockchain', Consensus will welcome 20,000 attendees shaping the decentralized digital economy to Toronto this May 14-16. |
Ready to invest in your future? |
Attending is your best bet. |
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Top 3 coins of the day |
Raydium (RAY) |
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Key points: |
At press time, RAY was trading at $1.93, reflecting a 7.21% increase over the last 24 hours. The MACD showed a bullish crossover, while the Parabolic SAR flipped below the candles—both indicating potential short-term upward momentum.
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What you should know: |
RAY experienced a notable price spike, breaking past its recent consolidation phase with a 7% gain in the past day. The MACD indicator flashed a bullish crossover, and the histogram has turned positive—suggesting growing upward momentum. In addition, the Parabolic SAR dots shifted below the price candles, further reinforcing the short-term bullish bias. This upswing aligned with renewed optimism following Pump.fun's fork—PumpSwap—which has reportedly processed $2.43 billion in trading volume within just 10 days of launch. Since the platform is powered by Raydium's infrastructure, this surge in user activity may have improved sentiment around the RAY token. However, with relatively modest volume compared to its late-February rally, traders should monitor whether this recovery sustains or faces resistance near the $2 mark. |
Ondo (ONDO) |
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At press time, ONDO was trading at $0.84, reflecting a 3.37% increase over the last 24 hours. Parabolic SAR dots flipped below the price candles, while RSI moved up to 46—hinting at a potential recovery phase.
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What you should know: |
Ondo's price gained modest ground over the past day, building on growing interest in real-world asset (RWA) tokenization plays. With ONDO recently appearing in speculative projections of 50x return candidates for 2025, investor sentiment may have received a subtle boost. The coin's price rebounded from recent lows, supported by an uptick in volume and the Parabolic SAR shifting to a bullish alignment. The RSI has yet to breach the neutral 50 mark, suggesting there is still some hesitation in the broader market. However, the current trend hints at a possible shift in momentum if bullish volume sustains. Traders may want to monitor the $0.90 resistance zone closely, as a break above it could open the gates to further gains. |
JasmyCoin (JASMY) |
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At press time, JASMY was trading at $0.0107, reflecting a 4.55% decline over the last 24 hours. The Parabolic SAR continued to hover above the price candles, while CMF remained below zero—indicating persistent bearish sentiment.
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What you should know: |
JasmyCoin struggled to recover from its prolonged downtrend as sellers retained control of the market. The asset has failed to establish a strong support floor, with the Chaikin Money Flow (CMF) hovering in negative territory—pointing to ongoing capital outflows. The Parabolic SAR also stayed above the price candles, highlighting the dominance of downward momentum. Despite Jasmy's unique approach to IoT data monetization, it hasn't yet translated into a significant bullish trigger. Until buying pressure improves and the CMF crosses into positive territory, the $0.0125 resistance zone may continue to cap upside moves. Caution remains warranted for short-term traders. |
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