By Shikha Singh
VanEck Files for First-Ever Binance Coin BNB ETF in the US
VanEck is making its move toward a Binance Coin (BNB) ETF in the U.S. The firm just registered a trust entity in Delaware for the VanEck BNB ETF—an essential first step before it officially takes things to the SEC.
This filing, made on March 31, positions BNB alongside Bitcoin, Ether, Solana, and Avalanche, the cryptocurrencies for which VanEck has initiated standalone ETF registrations in Delaware.
BNB-related products like the 21Shares Binance BNB ETP have been available in global markets, but a U.S.-based BNB ETF has yet to exist—until now.
BlackRock Enters The UK Crypto Market with FCA Registration
BlackRock, the $10 trillion asset management giant, just got the FCA’s approval to operate as a crypto asset firm in the UK. This puts it in the same league as Coinbase, PayPal, and Revolut in the country’s regulated crypto market.
Now that it’s registered, BlackRock can run its European Bitcoin exchange-traded product (ETP) under a UK entity, further expanding into crypto. But the FCA isn’t making things simple—it’s been tightening regulations and turning away firms that don’t meet its strict standards.
BlackRock, however, made the cut. BlackRock’s successful registration highlights its commitment to following regulations and meeting the authority’s high standards.
USDC Issuer Circle Files for $5bn IPO to List on NYSE
Circle, the company behind USDC, has officially filed for an IPO, aiming to list on the New York Stock Exchange under the ticker symbol CRCL. The company is targeting a valuation of up to $5 billion, with JPMorgan Chase and Citigroup acting as lead underwriters.
This is Circle’s second attempt to go public after the firm failed to merge with a special purpose acquisition company (SPAC) in 2022 due to regulatory issues.
The revenue of Circle in the year 2024 was $1.68 billion, which is higher than the previous years. Its net income, however, was $156 million, a decline from $268 million in the prior year, 2023.
SEC and Gemini Seek 60-Day Pause in Crypto Lending Case
The US Securities and Exchange Commission (SEC) and crypto exchange Gemini have requested a pause in the ongoing legal battle over Gemini’s Earn program.
In a letter sent on April 1 to Judge Edgardo Ramos of the New York federal court, the SEC and Genesis Global Capital, involved in the case, asked for a 60-day hold on the proceedings.
The SEC first sued Gemini and Genesis in January 2023 for selling securities without registering them through the Gemini Earn program.
However, the case against Gemini is still pending while Genesis paid the charges in full in the amount of $21 million in March 2024.
Franklin Templeton Eyes Bitcoin ETP Launch in Europe
Franklin Templeton, a global asset manager with $1.5 trillion in assets under management, is exploring the launch of a Bitcoin Exchange-Traded Product (ETP) in Europe.
As institutional interest in digital assets rises, prominent financial institutions are increasingly venturing into the crypto sector.
A Bitcoin ETP would offer investors a regulated, accessible way to gain exposure to Bitcoin without directly owning it.
If approved, this move could bolster Bitcoin’s integration into traditional finance and attract more institutional capital to the market.
Japan’s Banking Giant SMBC Plans Stablecoin Launch by 2026
Sumitomo Mitsui Financial Group, the parent company of Japan’s second-largest bank, SMBC, is entering the stablecoin market.
The bank is partnering with Ava Labs for blockchain infrastructure and Fireblocks for token management.
Testing is expected to begin in the second half of 2025, with a possible launch as early as the following year.
This move highlights the increasing institutional interest in digital assets and could drive broader stablecoin adoption in Japan.
Elon Musk’s X Urges Supreme Court to Block IRS Access to Coinbase User Data
Elon Musk’s social media platform X has filed an amicus curiae brief with the U.S. Supreme Court, urging it to prevent law enforcement from forcing companies like Coinbase to hand over user financial data without a warrant.
X Corp. is challenging the IRS’s use of a “suspicionless” subpoena to obtain three years of transaction records from Coinbase, affecting over 14,000 customers, including petitioner James Harper.
X argues that this violates privacy rights and Harper’s Fourth Amendment protections. In 2023, a federal court ruled that the IRS acted within its authority in accessing the data. The Supreme Court has requested a response from the federal government.
Binance Token Listings Fail to Deliver in 2025
In 2025, only 11.1% of tokens listed on Binance posted positive returns, signaling a decline in the platform’s ability to deliver profitable opportunities for investors.
Of the 27 tokens listed this year, only three—FORM, RED, and LAYER—saw positive returns, while the rest faced steep losses, averaging 44%.
This trend raises concerns about the quality of tokens being listed, with some analysts warning that Binance’s growing list of low-quality tokens could damage the overall perception of the crypto market.
Data also shows that tokens listed in 2024 performed poorly, with losses ranging from 23% to over 95%.
Despite these challenges, Binance’s former CEO, Changpeng Zhao, argued that a token’s development, not its listing, ultimately determines its price.
7-Eleven South Korea to Accept CBDC Payments in National Pilot Program
South Korea’s 7-Eleven stores will accept payments in the country’s central bank digital currency (CBDC) from April 1 to June 30 as part of a CBDC test.
During this period, customers using CBDC will receive a 10% discount. The test, involving 100,000 participants, is part of South Korea’s effort to explore digital currency options and enhance its digital transformation.
The CBDC, pegged to the Korean won, can be used for transactions at various participating retailers, including coffee shops and supermarkets.
The test is a step toward developing a future monetary system, with a total conversion limit of 5 million won which is $3,416 per participant.
Sony Partners With Crypto.com for Crypto Payments in Singapore
Sony Electronics Singapore has partnered with Crypto.com to allow customers to make purchases using cryptocurrency, starting with USDC.
This integration makes Sony the first consumer electronics brand in Singapore to accept direct crypto payments through Crypto.com Pay.
The move aims to make crypto payments more mainstream and provide a seamless checkout experience for users.
While USDC is the initial cryptocurrency supported, Sony plans to expand to other digital assets in the future. This partnership reflects growing interest in crypto payments among tech-savvy consumers.
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