By Shikha Singh
By Shikha Singh Metaplanet Stock Shoots 8% on News of 162 Bitcoin Purchases
Metaplanet, also popular as Japan’s MicroStrategy, announced a fresh purchase of 162 bitcoins for an investment value of $13.5 million while buying the recent BTC dips. The announcement sent the stock price 8% higher past 3,500 JPY levels on Wednesday’s trading session. Furthermore, the company issued 2 billion JPY worth of bonds at a 0% rate to fund additional BTC purchases.
As of March 12, 2025, Metaplanet holds a total of 3,050 BTC, acquired at a cumulative cost of roughly $253.7 million, with an average purchase price of $83,180 per Bitcoin. Nearly 50% of its total BTC holdings have been purchased in 2025 so far only.
US SEC Acknowledges Grayscale’s Hedera ETF Filing
The U.S. Securities and Exchange Commission (SEC) has acknowledged Grayscale’s application to list a Hedera (HBAR) ETF on the Nasdaq stock exchange. This step marks the beginning of a 21-day public comment period, after which the SEC will decide whether to approve, disapprove, or proceed with further review.
BNY Mellon Asset Servicing is expected to act as the administrator and transfer agent for the trust. Other key players involved include Coinbase Custody Trust Company, which will serve as the custodian, and CSC Delaware Trust Company as the trustee.
CBOE Files For Staking In Fidelity’s Ethereum ETF
Cboe BZX Exchange has filed a proposal with the U.S. Securities and Exchange Commission (SEC) to amend the Fidelity Ethereum ETF. According to the filing, the move seeks to introduce ETH staking in the fund, allowing investors to reap additional rewards.
Cboe says the application for staking has statutory backing and will ultimately assist the Trust “to better track the returns associated with holding ether.” The SEC has 45 days to respond to the proposal, with enthusiasts saying that the new forward-thinking approach by the securities watchdog may result in an approval.
Senator Lummis’ New BITCOIN Act Allows US Reserve To Exceed 1mn Bitcoin
U.S. Senator Cynthia Lummis’ newly reintroduced BITCOIN Act will allow the government to potentially hold more than 1 million Bitcoin as part of its newly established reserve.
The new bill now directs the Secretary, after the mandatory holding period, to evaluate and retain the most valuable asset based on market capitalization while retaining the “dominant asset.”
Lummis’ reintroduced bill comes just days after U.S. President Donald Trump signed an executive order to create a “Strategic Bitcoin Reserve” and a “Digital Asset Stockpile.”
$931 mn Bitcoin On The Move, Mt. Gox Sparks Market Jitters
Mt. Gox, the now-insolvent Bitcoin exchange, recently transferred 11,833 BTC worth approximately $931 million to new addresses, including one large transfer of 11,501 BTC to an unknown wallet and another of 332 BTC to a hot wallet.
These moves follow a series of significant transactions, including a $1 billion Bitcoin transfer in early March. Mt. Gox’s remaining holdings are valued at about $2.85 billion, with 35,915 BTC.
The market’s reaction to these transfers has been muted, suggesting that the potential sell-offs from Mt. Gox may already be priced in or that no actual sales have occurred yet. Mt. Gox, once handling 80% of global Bitcoin transactions, went bankrupt following a massive security breach in 2014, losing 850,000 BTC.
The restitution process for creditors is ongoing, and the movement of these Bitcoins has sparked concerns about market impacts and the security of cryptocurrency exchanges.
Crypto Exchanges Sees Drastic Decrease in Monthly Trading Volume
In February, major crypto exchanges like Binance, Coinbase, Bybit, and Crypto.com saw a sharp drop in trading volumes as the market cooled after the surge driven by Trump’s inauguration.
Binance experienced a 17.4% drop in spot trading volume, from $782 billion in January to $646 billion, while Crypto.com saw a nearly 30% decline.
Futures trading also dropped by 17%, with Binance’s futures volume falling 19.7%.
This decrease reflects the exit of short-term traders looking to capitalize on quick price swings after Trump’s inauguration.
Additionally, website traffic for major crypto exchanges dropped by 20% in February, with KuCoin, Upbit, and Coinbase seeing the largest declines.
Kraken Nets UK E-Money License for Enhanced Crypto and Fiat Ramps
Kraken has secured an E-Money license from the U.K.’s Financial Conduct Authority (FCA), allowing it to expand its offerings in the country.
This follows years of regulatory challenges for the exchange, which has operated in the U.K. since 2019. The new license enhances Kraken’s ability to offer fiat and crypto on/off ramps to users.
Kraken’s journey in the U.K. has included regulatory hurdles, including being labeled an “unauthorized firm” by the FCA in 2020, but it later registered as a cryptoasset business in 2021.
Kraken has also adapted to shifting regulations, such as removing certain services and incentives. This license marks a significant milestone as the U.K. continues to develop new rules for the crypto industry.
U.S. House Votes to Overturn IRS DeFi Broker Rule
The U.S. House of Representatives voted 292-132 to overturn an IRS rule that treated crypto entities as brokers, requiring them to collect taxpayer and transaction information, including from decentralized finance (DeFi) platforms.
The resolution, supported by both Republicans and Democrats, advances the Congressional Review Act, following a similar move in the Senate last week.
Critics of the IRS rule argue it imposes unnecessary burdens on DeFi platforms and stifles innovation, while supporters claim it could help ensure better tax reporting, similar to stock broker practices.
If President Trump signs the provision, the IRS will be barred from implementing a similar rule in the future.
Cathie Wood’s Ark Invest offloads $29 mn worth of Block Inc shares in two days
Cathie Wood’s Ark Invest sold a total of 526,991 Block Inc. shares worth about $29.1 million over the past two days as part of a portfolio rebalancing.
The sales included 203,659 shares on Tuesday and 323,332 shares on Monday. Despite a 1% rise in Block’s stock to $55.29 on Tuesday, the company has seen a 36% decline in its stock price year-to-date. Block Inc., led by Jack Dorsey, operates businesses like Cash App, which enables bitcoin transactions.
Ark also bought 52,753 Coinbase shares for $9.4 million and 11,605 shares for its Ark Fintech Innovation ETF. As of Tuesday, Coinbase represented 7.06% of Ark’s ARKK ETF, while Block made up 2.68%.
South Korea Prepares To Unlock Institutional Crypto Investment With New Guidelines Due Q3
South Korea’s Financial Services Commission (FSC) announced plans to issue comprehensive guidelines for institutional cryptocurrency investment by the third quarter of 2025.
The guidelines will first cover non-profit organizations and crypto exchanges by April, followed by institutional investors.
This move is part of South Korea’s gradual shift to allow institutional crypto participation, reversing its previous opposition to crypto in traditional financial markets.
The FSC aims to set standards for crypto trading, disclosure, and reporting while enhancing anti-money laundering and cybersecurity efforts.
This decision aligns with South Korea’s effort to boost its crypto market, with 15.6 million people—30% of the population—already trading crypto.
The FSC is also developing regulations focused on stablecoins and crypto business owners as part of its broader regulatory framework.
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