SEC Postpones 5 Crypto ETF Applications
The U.S. Securities and Exchange Commission (SEC) postponed Franklin Templeton’s Solana (SOL) and XRP, Grayscale’s Hedera (HBAR), Bitwise’s Dogecoin (DOGE), and Fidelity’s Ethereum (ETH) staking ETF applications on April 29. Bloomberg analysts James Seyffart and Eric Balchunas stated that these postponements were an expected development and that most of the decisions could be postponed until October 2025.
According to analysts, the SEC is holding strategic meetings and shaping the decision-making process with the inauguration of new Chairman Paul Atkins. While it is known that the institution generally extends the final decision period for ETF applications, it is reported that more than 70 crypto ETF files in total are still awaiting results.
BlackRock Applies to SEC to Tokenize Its $ 150 Billion Fund
BlackRock, one of the world’s largest asset managers, has applied to the US Securities and Exchange Commission (SEC) to offer digital shares of its $ 150 billion Treasury Trust fund. These “DLT shares” will be tokenized investment vehicles where ownership will be tracked on distributed ledger technology (blockchain) and will be offered only through BNY Mellon.
CEO Larry Fink emphasized that tokenization will change the investment world revolutionary, and this step was BlackRock’s first concrete move in line with this vision. According to Fink, this technology will enable transactions to take place instantly without the need for market hours, democratize investment and prevent inefficient waiting. This initiative, which will go through the SEC’s approval process, is seen as one of the most remarkable steps taken by traditional finance giants in the blockchain space.
SEC Approval Requested for 21Shares Spot Dogecoin ETF
Nasdaq has filed a formal application with the SEC to list the spot Dogecoin ETF proposed by 21Shares, which will passively track the price of Dogecoin (DOGE). The ETF, which is planned to be traded on Nasdaq with a minimum of 40,000 shares, will only work with cash transactions and will not use leverage or derivatives.
The application came amid growing altcoin ETF interest and a more crypto-friendly regulatory environment. 21Shares also plans to launch the only Dogecoin ETP supported by the Dogecoin Foundation. The SEC is currently reviewing 72 crypto ETF applications.
Trump Media Plans Crypto Wallet and Token for Truth Social
Trump Media & Technology Group announced plans for a digital wallet and utility token that can be used within the Truth Social ecosystem. The new token will initially be used to cover Truth+ subscription fees and is intended to be used across other products and services on the platform in the future.
The initiative, run through the company’s fintech brand Truth.Fi, adds another to Trump’s crypto-related projects. Trump had previously launched digital asset-focused ETFs and strengthened his presence in the crypto world by introducing a memecoin called TRUMP.
UK Regulates Crypto
The UK Government aims to both increase investor confidence and grow the sector by announcing new draft laws to regulate the crypto asset market. While stablecoins and crypto assets are defined in the 27-page draft regulation, activities such as crypto custody services and exchange operations are directly included in the scope of regulation.
“Robust rules will increase trust in crypto, support fintech growth and protect consumers,” Treasury Secretary Rachel Reeves said. Under the new rules, crypto firms will have to comply with transparency, operational resilience and consumer protection standards like traditional finance companies. The laws are expected to come into force in 2025, and the draft is currently being evaluated with industry opinions.
Europe’s Giant Neobank Bunq Enters the Crypto World
Bunq, Europe’s second-largest digital bank, launched its cryptocurrency trading services as of April 29, citing the increase in user demand. In the first phase, users in the Netherlands, France, Spain, Ireland, Italy, and Belgium will be able to access more than 300 cryptocurrencies, including Bitcoin, Ethereum, and Solana, through the Bunq app.
While the crypto service is offered in collaboration with Kraken, CEO Ali Niknam stated that users took this step because they wanted to perform both banking and investment transactions on a single, reliable platform. According to research, 65% of Europeans want to combine their banking and crypto investments in a single app. Bunq plans to expand its services to the European Economic Area, the US, and the UK.
Avalanche’s $10 Million Web3 Support to India
Avalanche has launched a $10 million investment program focused on Delhi and Bangalore in collaboration with a crypto platform to support the Web3 community in India. The program will include mini-grant distributions, scholarships, hackathons, and workshops.
India has become a rapidly growing Web3 and crypto market with the interest of its young population. Dogecoin was the crypto asset that attracted the most investment in the country in 2024, while 75% of investors were young people between the ages of 18-35. As the country’s crypto ecosystem grows, global exchanges have also begun to stir with plans to re-enter the Indian market.
Beijing Makes Blockchain Move to 2027
Beijing, the capital of China, has launched a two-year development plan through 2027, embracing blockchain technology as its core digital infrastructure. The plan aims to widely use blockchain in sectors such as healthcare, education, artificial intelligence, finance and transportation.
Beijing aims to develop domestic blockchain software, make breakthroughs in cryptography and distributed systems, and build trusted digital identity platforms. In line with the principle of “one chain, one network, one platform,” the city plans to build scalable systems covering millions of users. The plan also includes statements that aim to increase the valuation of digital assets via blockchain, suggesting that China may be re-approaching crypto infrastructures.
———————————————————————————————
BITCOIN (BTC)
BTC is trading at $95,050 as of the morning hours, up 0.86%. Bitcoin appears to have encountered resistance at $95,000, with the $96,000-$97,000 band acting as a critical supply zone. The short-term sideways squeeze may continue as the price struggles to break out of this zone. In a possible downward correction, the first strong support is the demand zone between $89,000-$91,000. As long as this area is not broken, the uptrend will remain healthy. 88.541 and 86.170 levels are other supports to be watched in deep pullbacks.
ETHEREUM(ETH)
ETH is priced at $ 1,806 with a 0.50% gain as of the morning hours. Ethereum is moving horizontally in a narrow band around $ 1807. The $ 1825 and $ 1775 levels form the upper and lower limits of the horizontal consolidation in the short term. The break of one of these areas will be decisive in terms of direction determination. While the 1875 resistance can be tested in an upward break, the $ 1725 level should be watched as the first support in case of a downward break. The current structure shows that the accumulation process continues.
RIPPLE(XRP)
XRP is trading at $ 2.2540 with a 0.72% gain as of the morning hours. Although XRP experienced a slight pullback at the 2.25 levels, a constructive outlook can be maintained if it maintains its permanence above the 2.23 and 2.11 levels. The 2.11 level in particular is an important level as it has worked as both resistance and support in the past. In upward movements, the 2.35 resistance can be targeted, while in the downward scenario, the first strong support is at 1.92 and then 1.72 levels. The price is likely to enter the decision process between these two levels.
AVALANCHE(AVAX)
AVAX is trading at $ 21.77 as of the morning hours with a 0.93% gain in value. Avalanche price is trading horizontally at 21.78 USDT levels. The 21.65 level works as short-term support and the fact that the price defends this area shows that the buyers are still strong. The 23.46 level is the most important resistance point in the short term. With the break of this area, the upward momentum can be regained. In possible pullbacks, 19.95 and 17.74 levels should be followed as support, respectively. Protecting these supports will be critical for the continuation of the trend.
SOLANA(SOL)
SOL is trading at $147.3 as of the morning hours, gaining 0.66% in value. While the Solana price is moving horizontally at 147 USDT levels, it has turned the 136-140 area, which it had previously broken and indicated with the green box, into a strong support. This area has worked as resistance many times in the past and has been successfully retested after the breakout. The current price action indicates a horizontal consolidation above this support. For the continuation of the upward movement, the 152-156 band must be exceeded. Otherwise, a retest of the 140 support may be possible. The 124 and 112 levels stand out as important support areas to be followed in deeper corrections.
