Happy Friday! Welcome to the 19th instalment of the Coinbyte Weekly Wrap.

The crypto market extended its pullback this week, with Bitcoin declining around 5.10% over the past seven days. BTC traded within a relatively volatile range between the mid-US$76,000s and upper-US$79,000s before settling near US$77,400, reflecting continued profit-taking pressure and softer momentum across the broader market.Major altcoins also closed the week broadly lower, with Ether falling 7.03%, Solana down 5.98%, BNB slipping 3.86%, and Cardano posting another sharp decline of 8.32%. DOGE underperformed among major tokens with a 9.86% weekly drop. In contrast, TRX continued to show relative strength, gaining 3.37% over the week and standing out as one of the few large-cap assets in positive territory.Trading activity across the market remained relatively stable despite the correction. BTC average daily volume reached approximately US$29.5bn over the past seven days, while USDT turnover stayed elevated at around US$65.8bn. ETH and SOL recorded roughly US$14.0bn and US$3.4bn in average daily trading volume respectively, suggesting that market participation remained active even as prices weakened.Overall, this week’s market action reflected a broader cooling phase across cryptocurrencies, with Bitcoin and most major altcoins retracing after recent strength, while selective assets such as TRX continued to outperform in an otherwise weaker market environment.

This week saw institutional adoption continue to accelerate, with Strategy purchasing another 24,869 BTC and SpaceX revealing US$1.29bn in Bitcoin holdings through its IPO filing, reinforcing BTC’s growing role on corporate balance sheets. Meanwhile, BitMine expanded its Ether treasury by more than 70,000 ETH in a single week.Crypto investment access also continued expanding across traditional finance. Hyperliquid-linked ETFs recorded strong early inflows, while Japan moved closer to launching crypto investment trusts tied to BTC and ETH through brokerage accounts.Tokenization momentum remained strong as Saudi Arabia advanced a US$12.5bn real-world asset initiative, highlighting continued growth of blockchain-based financial infrastructure.Regulatory developments also stayed supportive, with the SEC proposing major IPO rule changes and the U.S. reviewing potential Fed payment access for crypto firms.Overall, institutional accumulation, tokenization growth, and expanding integration with traditional finance continued supporting crypto’s long-term adoption trend.

Performance

Newsflow

Institution | SpaceX Holds $1.29B in Bitcoin

SpaceX disclosed in its IPO filing that it holds 18,712 Bitcoin with a fair value of $1.29 billion as of March 31, reinforcing Bitcoin’s presence on major corporate balance sheets. The Elon Musk-led company, which is seeking a valuation above $1.5 trillion, joins a small group of large firms publicly holding significant BTC reserves. link

ETF | $25M Flows Into Hyperliquid ETFs

Hyperliquid-linked ETFs have attracted more than $25 million in inflows within days of launch, marking one of the strongest debuts among newly launched altcoin ETFs this year. The early demand highlights growing institutional interest in Hyperliquid’s ecosystem as crypto ETF issuers expand beyond Bitcoin and Ethereum into higher-growth on-chain trading infrastructure. link

More News

Tokenization | Saudi Arabia is bringing real-world assets onto the blockchain, starting with real estate through a $12.5B initiative led by digital payments architect Faisal Monai using the droppRWA platform. The broader push, backed by government-linked entities and tech partnerships, targets improved liquidity, transparency and capital efficiency as part of its Vision 2030 plan to modernize financial infrastructure and diversify beyond oil. link

Bitcoin | Bitcoin is reportedly being explored as a settlement option for maritime insurance covering ships transiting the Strait of Hormuz, with local media pointing to a platform known as “Hormuz Safe.” The initiative, linked to Iran’s Ministry of Economy, focuses on providing cargo insurance in a key global energy corridor where war-risk premiums have surged amid ongoing regional tensions. link

Institution | Japan’s SBI Securities and Rakuten Securities plan to launch cryptocurrency investment trusts, allowing investors to gain exposure to assets like Bitcoin and Ether through existing brokerage accounts once regulations are finalized. The products will be developed in-house with group asset management units, as Japan’s Financial Services Agency moves to include crypto within investment trust frameworks. link

Institution | BitMine has rapidly expanded its Ether treasury, accumulating over 70,000 ETH in a week and bringing total holdings to 5.28 million ETH, or about 4.37% of supply, with crypto and cash reserves exceeding $12 billion. A significant portion has been deployed into staking to generate yield, as the firm continues scaling its ETH exposure through active accumulation and treasury management. link

Institution | Strategy purchased 24,869 Bitcoin for approximately $2.01 billion last week at an average price near $80,985, continuing its aggressive accumulation strategy. The buy, funded through equity and preferred stock offerings, brings the company’s total holdings to over 840,000 BTC, reinforcing its position as the largest corporate holder of Bitcoin. link

Regulation | The U.S. SEC is proposing its biggest overhaul of IPO and public-company rules in more than two decades, allowing newly public firms to raise capital immediately after listing through expanded shelf registration access. The changes aim to reduce compliance costs and simplify fundraising, potentially giving growth and crypto-related companies faster access to Wall Street capital markets. link

Regulation | President Trump ordered the Federal Reserve to review whether crypto and fintech firms should receive direct access to Fed payment infrastructure through “master accounts,” potentially allowing eligible firms to settle transactions without intermediary banks. The move is part of a broader push to reduce regulatory barriers and integrate digital asset firms more directly into the U.S. financial system. link

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