Global TradFi & Macroeconomics

Morgan Stanley's new bitcoin ETF, MSBT, debuted strongly with $34 million in trading volume and a low sponsor fee of 0.14%. While its first-day success indicates market interest, the challenge remains to maintain steady asset growth amidst a crowded ETF landscape.

The three major U.S. stock indexes finished mixed, with the Nasdaq up 0.35% to set an eight-session winning streak, while the S&P 500 fell 0.11% and the Dow Jones fell 0.56%. Tech stocks were broadly higher, and the Nasdaq’s gain for the week reached 4.68%. Blockchain-related stocks showed mixed performance.

Trident Digital Tech Holdings and Ripple Strategy Holding have signed a strategic cooperation agreement to launch a blockchain-based tax settlement system in Africa, support cross-border payments, and plan to begin a stablecoin business pilot in 2026.

Gate News message, April 11, according to Reuters, a senior U.S. White House official said that skepticism is pervasive inside the White House. The official said that during recent conversations with his advisers, Trump seems to have acknowledged that the Strait of Hormuz is unlikely to fully reopen in the short term. However, at the same time, on Thursday Trump posted on social media that oil supplies will be restored soon, but provided no further details.

Gate News message. On April 11, Iranian Islamic Parliament Speaker Qalibaf said in a statement delivered in Islamabad, Pakistan’s capital, at around 1 a.m. local time on the 11th that Iran is sincere about negotiations with the United States, but does not trust the U.S. side. The reason is that the parties’ previous negotiations “have always ended in failure and betrayal.” Qalibaf said that if the U.S. side tries to use this round of talks to put on a show, Iran is prepared to defend its own rights.

Taiwan’s crypto-specific regulatory framework will be implemented in 2026, and financial institutions will begin acquiring virtual asset service providers (VASPs). Financial holding groups such as Fubon and Federal Bank are actively positioning themselves, accelerating the integration of traditional finance and the crypto industry, while emerging platforms like HOYA BIT are competitive. The market expects that as regulations roll out, demand for virtual assets will increase significantly.

Shenzhen AI company Sharetronic saw its stock price drop by as much as 20% in a short period after it was accused of smuggling super micro servers equipped with Nvidia chips that are banned from export. The report said Sharetronic and its subsidiaries had illegally sold 276 servers with a total value of more than 632 million yuan. Currently, relevant parties are facing smuggling charges brought by the U.S. Department of Justice, and the investigation is still ongoing.

Michael Saylor asserts that Bitcoin has already finished bottoming at $60k, and he believes concerns about threats from quantum computers are overblown. He predicts that in the future, Bitcoin will become the core of a digital credit system, and he notes that there is limited selling pressure in the market, which could help drive the next bull cycle. Mizuho also has a positive assessment of the company’s future performance.

Reports say that Iran plans, during a U.S.-Iran ceasefire period, to require tankers transiting the Strait of Hormuz to pay a toll of $1 per barrel in Bitcoin and cryptocurrencies. The cost for a single trip could reach $2 million. A fully loaded tanker must declare its cargo and make payment with cryptocurrency, while also ensuring the transaction is not tracked. The move is intended to evade the risk of sanctions from the traditional financial system.

Taiwan’s crypto-specific law will be implemented in 2026, and financial institutions will begin acquiring virtual asset service providers (VASP). Financial holding groups such as Fubon and Federal Bank are actively positioning themselves to accelerate the integration of traditional finance with the crypto industry. Emerging platforms like HOYA BIT are gaining competitiveness. With the regulations rolling out, the market expects demand for virtual assets to increase significantly.

Canary Capital has filed for a spot PEPE ETF with the SEC, aiming to directly hold PEPE tokens while possibly keeping 5% in Ether for fees. This move reflects growing interest in meme coins, despite PEPE's significant decline in value.

Bitmine Immersion Technologies completed its listing up-switch from NYSE American to the NYSE main board on Thursday, marking a major milestone in the company’s development. Chairman Tom Lee announced an increase to the stock buyback program to $4.0 billion, but the stock price is still facing challenges, down 90% from its peak last year. Bitmine currently holds 3.98% of the total supply of ether, and market conditions may be the key to its turnaround.

Gate News: According to the latest Gate TradFi data, CRDO (Credo Technology Group Holding Ltd) has surged by 12% in a short period. Current volatility is significantly higher than recent averages, indicating increased market

Gate News: According to the latest Gate TradFi data, SNOW (Snowflake) has dropped by 10% in a short period. Current volatility is significantly higher than recent averages, indicating increased market activity.

Taiwan’s crypto-specialized legal framework will be rolled out in 2026, and financial institutions will begin acquiring virtual asset service providers (VASPs). Financial holding groups such as Fubon and the United Bank of Taiwan have been actively positioning themselves, accelerating the integration of traditional finance with the crypto industry. Emerging platforms such as HOYA BIT are showing strong competitiveness. The market expects that once the regulations are implemented, demand for virtual assets will increase significantly.

Gate News: According to the latest Gate TradFi data, SNOW (Snowflake) has dropped by 8% in a short period. Current volatility is significantly higher than recent averages, indicating increased market activity.

Gate News message: On April 10, U.S. and Iranian delegations are expected to hold talks in Islamabad, the capital of Pakistan, on April 11. As of now, Islamabad has increased its security measures, and the media center has begun operations. According to CCTV, as of now, there is no clear information on the specific timing and format of the talks. There are reports that in the first phase, the U.S. and Iran may not hold face-to-face talks; instead, each side may meet with Pakistan first, and then decide whether to proceed with direct talks between the U.S. and Iran.

Gate News update: On April 10, according to market sources, on April 11, U.S. Democratic Senator Elizabeth Warren sent a letter to the U.S. Commodity Futures Trading Commission (CFTC), requesting an investigation into oil trades related to remarks made by U.S. President Donald Trump about Iran.

Mike McGlone, a Bloomberg strategist, argues that Bitcoin ETFs may not drive long-term growth for Bitcoin, which has underperformed compared to gold. Despite recent gains, Bitcoin's performance seems capped, suggesting a potential peak in crypto enthusiasm.

Benchmark reaffirmed its bullish stance on Securitize (SECZ) in its latest research report, setting a $16 price target, and believes the company will benefit significantly from the tokenized asset wave. If it were to capture 0.01% of the NYSE’s market cap, its asset base could double. Securitize has full regulatory credentials and has become the digital transfer agent for the NYSE’s tokenized securities platform. It has also partnered with BlackRock, with the size of its tokenized U.S. Treasury fund nearing $3 billion, but it faces regulatory and technology risks.