[News Brief] Apr 22, morning | BlackRock Surpasses Strategy in Bitcoin Holdings

U.S. Republican Senator Bernie Moreno said he plans to move a crypto market structure bill through markup next week, send it to President Trump by the end of June, and push for it to be signed before July 4.

According to Bitcoin Magazine, Moreno said this reflects his intention to quickly establish a regulatory framework for the U.S. crypto market.

The market structure bill is focused on clarifying oversight authority, trading rules, and the regulatory framework for crypto-related businesses. If the legislative process accelerates, expectations may grow for digital assets to become more firmly integrated into the U.S. financial system.

CME Group will launch bitcoin volatility futures contracts on June 1, according to @WatcherGuru.

The new product appears aimed at institutional investors seeking exposure to bitcoin price volatility or hedging tools. CME Group already offers bitcoin futures and options, and this move expands its lineup of related derivatives products.

BlackRock’s estimated bitcoin holdings have reportedly surpassed those of Strategy, led by Michael Saylor.

Pete Rizzo, known as a bitcoin historian, said on X that BlackRock is estimated to hold about $67 billion worth of bitcoin, exceeding Strategy’s holdings.

This suggests that BlackRock, the world’s largest asset manager, is gaining greater influence in the bitcoin market. BlackRock has already been seen as a key channel for institutional inflows through its spot bitcoin ETF.

Bitcoin open interest has reached its highest level in 109 days, according to Bitcoin Magazine on X.

An increase in bitcoin open interest indicates greater participation in the derivatives market and expanded leveraged betting, which is often interpreted as a bullish signal. However, rising open interest can also imply the potential for increased volatility.

Griff Green, a member of the Arbitrum Security Council, criticized lending protocol Aave for applying overly loose standards to liquid staking tokens (LSTs) and overlooking underlying technical risks.

According to Wu Blockchain, Green suggested that this structure could lead to additional risks during periods of market stress. Liquid staking tokens are closely connected to the Ethereum staking ecosystem, making risk management particularly important.

A whale address transferred 1,638 BTC (about $133.56 million) to a Coinbase institutional account, according to Whale Alert.

Large bitcoin inflows to exchanges are typically interpreted as a sign of potential selling pressure, which could weigh on the market in the short term.

Source: @whale_alert

According to Whale Alert, 39,600 ETH worth about $93.64 million was transferred from Coinbase to a Beacon Depositor address.

Transfers to a beacon depositor address are typically interpreted as staking-related fund movements. However, a single transaction does not confirm the identity of the investor or the exact purpose.

About 23,400 ETH worth roughly $55.32 million was moved from Coinbase to the Beacon Depositor contract.

According to Whale Alert, the transfer was made from an exchange to a staking-related address, which can support expectations of reduced circulating supply.

However, this update is based on a single on-chain transfer, and it is difficult to draw firm conclusions about buying, selling, or near-term market direction.

According to Forbes, ARK Invest projects that bitcoin’s market capitalization could expand from about $2 trillion today to $16 trillion by 2030. This estimate assumes a compound annual growth rate of about 63% over the next five years.

Wu Blockchain shared the report on X. The projection appears to reflect expectations for broader institutional adoption and bitcoin’s growing role as a long-term store of value.

Digital asset treasury companies tied to Hyperliquid reportedly hold about 9% of HYPE’s circulating supply, a higher share than similar treasury companies tied to BTC, ETH, SOL, and BNB, according to Wu Blockchain.

According to the source, HYPE is the only asset among those analyzed that is trading at a positive mNAV. As a result, these treasury companies may be able to raise capital more easily and continue absorbing market supply.

There is also a view that if a spot HYPE ETF is approved, new passive inflows could enter an already relatively tight circulating supply with existing institutional positioning and treasury demand, potentially supporting the price.

This commentary reflects the views of market analysts, and actual ETF approval and supply-demand effects may vary depending on future market conditions.