Bitcoin Holds Steady as Institutions Move In and Crypto Markets Stay Neutral

In the Iran conflict, US President Donald Trump is aiming for a swift end, while the Bitcoin price stabilizes. The German stock exchange acquires a stake in Kraken.

Bitcoin is holding steady at around $74,000 on Wednesday morning, remaining at levels similar to the previous day. Bitcoin ETFs reported $412 million in new capital inflows on Tuesday, a consistently positive result.

The world’s largest asset manager, BlackRock, shares this view. Its Bitcoin ETF, IBIT, has attracted $64 billion in capital since its launch in January 2024, making it the top performer in its class. This generates around $42 million in fee income per quarter, which seems small compared to BlackRock’s recent quarterly revenue of $6.7 billion. However, Bitcoin ETFs are generally profitable for issuers, and Goldman Sachs now wants a piece of the action.

According to Bloomberg expert Eric Balchunas, the investment bank has submitted an application for its own BTC ETF, which will invest in options. Balchunas calls this “boomer candy” and is nevertheless surprised that, following JP Morgan, Goldman Sachs is now another financial institution entering the Bitcoin ETF race, having dismissed the leading cryptocurrency as superfluous for years.

Ethereum, like Bitcoin, is trading sideways at around $2,300. Ethereum ETFs continued their positive start to the week on Tuesday with an inflow of $53 million

The Ethereum Foundation, in collaboration with security firms, is launching a program to facilitate projects within the ETH ecosystem. The announcement states that $1 million is available for the “Ethereum Security Subsidy Program.” A large proportion of crypto hacks occur in decentralized finance (DeFi) and its underlying smart contracts. The foundation views this initiative as part of its mandate to ensure censorship resistance, open source, privacy, and security (CROPS) for ETH.

The day’s winner is once again RaveDAO (RAVE), with a 32 percent daily gain and an incredible 5,300 percent increase over the last 30 days. Suddenly, with a market capitalization of $3.7 billion, RAVE ranks among the top 30 global cryptocurrencies. The project aims to bring art and culture to the blockchain and manage copyrights. However, observers suspect insider trading is behind RAVE’s price surge.

The biggest loser of the day is Plasma (XPL), down 8 percent. The stablecoin-focused project failed to meet high expectations, and the Plasma founding team includes Christian Angermayer, a justifiably controversial figure.

The crypto sentiment barometer remains stable in the “Neutral” zone, perhaps a good basis for the second quarter.

Deutsche Börse has acquired a $200 million stake in the US cryptocurrency exchange Kraken. According to the press release , the investment aims to deepen a strategic partnership.

Deutsche Börse anticipates knowledge transfer in areas such as the custody of Bitcoin and other cryptocurrencies, as well as in the growth segment of tokenized assets. Kraken recently canceled its planned initial public offering (IPO). Deutsche Börse is acquiring 1.5 percent of Kraken’s shares and expects to close the deal this quarter.

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(Featured image by Bastian Riccardi via Pexels)

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