Canary Capital has filed with the SEC to launch a U.S. Tron (TRX) ETF that would include staking benefits, allowing investors to earn extra yield. 

The S&P 500 futures fall 1.5% amid US-China trade concerns and Fed warning; over 100 companies will report earnings this week. Gold hit a record ~$3,375, up 1.43%, on safe-haven demand amid tariff and geopolitical worries. Fed hawkishness may cap gains. CoinDesk Indices, which tracks the broader crypto market, rose 1.80% in the past 24 hours, while Bitcoin and Ether gained 2.70% and 3.41%, respectively. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today's top performer is STX, up 9.4%, following the announcement of Stacks gaining institutional support with major exchange listings and custodian backing.

Stacks (STX), founded in 2013, is a cryptocurrency project that enhances the Bitcoin blockchain by enabling decentralized apps (DApps) and smart contracts without altering Bitcoin's features. It operates as a Bitcoin Layer 2 (L2) blockchain, ensuring security through Bitcoin while allowing developers to build modular applications on top of the network. 

 with its listing on top 15 exchanges, the launch of the Grayscale STX Trust, and support from top-tier custodians like BitGo, Copper, and Figment.

Check out the latest prices, charts, and data of 

Canary Capital has filed with the SEC to launch a U.S. Tron (TRX) ETF that would include staking benefits, allowing investors to earn extra yield. This proposal is part of a broader trend, with Canary also seeking approval for ETFs based on assets like XRP, Solana, and Sui. The fund would aim to provide exposure to Tron’s price, but the SEC has yet to approve staking in crypto ETFs. This move follows the success of Bitcoin and Ethereum ETFs, which have attracted significant institutional interest.

During the week of April 14–18, 2025, U.S. Bitcoin spot ETFs recorded a modest net inflow of $13.7 million, entirely from non-GBTC products, as GBTC saw no activity. Since inception, total net inflows have reached $35.5 billion, with non-GBTC ETFs contributing $58.3 billion and GBTC experiencing $22.8 billion in outflows.

Orochi Network airdrop participants can now 

 their earned $ON tokens on the Monad Testnet to increase their Bonus Level and earn rewards faster. A minimum of 50 ON is required for the first claim, and subsequent claims have no minimum. New users can still join by signing up and starting the Prover. Daily check-ins open at 6 AM UTC and fill up quickly.

Beginner

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Canary Capital files for SEC approval of Tron ETF with staking benefits

There are a total of five ways you can buy USDC on Bybit: via Bybit P2P, Bybit One-Click Buy, Auto-Invest, Bybit Card and Bybit Convert. Learn more here.

 that maintains a 1:1 value with the US dollar through full reserves held in regulated financial institutions. This stability makes USDC an attractive option for traders looking to participate in the crypto market with reduced price volatility.

In this guide, we’ll explore the multiple ways to buy USDC on Bybit, detailing five distinct purchasing methods tailored to different preferences. You'll also discover practical applications for your USDC holdings, from trading opportunities to payment solutions and investment strategies.

Whether you prefer trading directly with other users or making quick purchases with a credit card, there's an option for you. Let's examine each method in detail.

 allows individuals and businesses to buy and sell USDC via peer-to-peer mode without intermediaries. You simply transact with another trader to purchase or sell your crypto with zero fees.

There are two main parties on the P2P platform — makers and takers. Makers place ads for buying or selling cryptocurrency, while takers are the users who place orders through the existing ads created by makers. Neither makers nor takers pay any fees on completed orders.

If you decide to go the P2P route to buy your USDC, you can either place a buy ad as a maker, or select an existing offer as a taker. Placing ads is completely free, although specific trading activity requirements exist. If you're a beginning trader on the platform, and want the easiest way to purchase USDC, selecting an offer from an existing ad as a taker is probably the preferred route.

If you need to trade USDC in large volumes (typically tens or hundreds of thousands of USDC per transaction), you may also choose to consider 

, which offers high order limits — up to $200,000 per order — as well as expedited transaction processing.

 feature to complete your USDC order efficiently. HotSwap combines offers from P2P traders with liquidity options from third parties, potentially delivering more choices and options.

Steps for buying USDC via the standard P2P option

2. How to buy USDC via Bybit One-Click Buy

The One-Click Buy service lets you quickly purchase crypto using several supported payment modes: P2P, bank card payments, third-party payments and your account's fiat balance. You can use a credit or debit card (including the Mastercard-powered 

), bank transfers, Apple Pay, Google Pay and other payment methods.

 is another way to purchase USDC on Bybit. The Auto-Invest option allows you to automatically buy crypto at regular intervals using the popular 

Bybit Card is a Mastercard crypto debit card that allows you to make online payments. The card is available to users in specific regions — EEA and CH, AIFC, Australia, Brazil and Argentina — with more locations to be added in the future. It's accepted by more than 90 million merchants within the Mastercard network. Upon successfully applying for your Bybit Card, you may proceed to 

 while you order and wait for your physical card to arrive. 

It's easy to buy USDC using the Bybit Card, as you enjoy reward features like loyalty points and cashback for USDC transactions. The steps for buying USDC using the Bybit Card are nearly the same as shown above in the One-Click Buy section, the only difference being that you'll need to specify your Bybit Card as the preferred payment method.

 lets you easily swap crypto assets without directly trading through the P2P route or other channels. Using Bybit's order books, the platform matches your order with current suitable orders and executes the requested swap. By leveraging Bybit's vast trading volumes and activity, Bybit Convert enables swift and efficient swaps.

If you have non-USDC crypto funds in your account, you can take advantage of the 

 function to buy the stablecoin as follows:

Steps to for buying USDC via Bybit Convert

USDC is more than just a stablecoin for trading; it offers various applications within and beyond the Bybit ecosystem.

USDC serves as a reliable base currency for trading various cryptocurrencies on Bybit.

Trading with USDC helps mitigate volatility risks between trades, as its value remains stable at approximately $1, allowing traders to preserve capital during market downturns.

USDC has emerged as a popular payment method due to its stability and wide acceptance.

Platforms on which users can make USDC payments include Travala for travel bookings, Newegg for electronics, and various crypto-friendly merchants via payment processors, such as BitPay and Coinbase Commerce.

USDC offers various investment opportunities on Bybit and beyond.

The benefit of investing with USDC is that your principal amount remains stable while generating returns, which is particularly attractive in volatile market conditions.

USDC combines dollar stability with digital efficiency on the Bybit platform. This guide has detailed five ways to purchase USDC, and explored its versatile applications for trading, payments and investing. Armed with this knowledge, you can confidently navigate Bybit's ecosystem and make the most of what USDC has to offer.

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A complete guide on how to buy USDC on Bybit

Apr 21, 2025: Our weekly Institutional Insights explores the latest market developments — market performance, industry news, exchange-traded fund (ETF) flows, trending topics, upcoming events and token unlocks — to help you supercharge your crypto trading.

 explores the latest market developments — market performance, industry news, exchange-traded fund (ETF) flows, trending topics, upcoming events and token unlocks — to help you supercharge your crypto trading.

Weekly highlight — Trump wants to fire Powell? 

US president Donald Trump is actively considering firing Federal Reserve Chairman Jerome Powell, following Trump's public criticism of Powell for not moving quickly enough to reduce interest rates. National Economic Council Director Kevin Hassett confirmed that the administration is examining this option, suggesting that Powell's actions have politically favored Democrats. Hassett argued that the Federal Reserve's decision to raise interest rates shortly after Trump took office was intended to undermine the economic impact of the tax cuts implemented during his administration, which were deemed inflationary. He further criticized the Fed for not addressing inflation concerns stemming from federal spending under President Biden, implying a lack of accountability.

During a recent press conference, Trump conveyed his dissatisfaction with Powell, asserting that if he wanted to remove him, it could happen "real fast." While he did not explicitly state his intention to dismiss Powell, his remarks highlighted the growing tensions between the White House and the Federal Reserve regarding monetary policy. Hassett defended Trump's frustrations, advocating for a focus on economic policy rather than interpersonal conflicts. This situation underscores the complex dynamics between the executive branch and the central bank, as Trump navigates economic challenges leading up to the next election.

Weekly crypto highlight — XRP ETF coming

HashKey Capital has officially launched the HashKey XRP Tracker Fund, marking the first investment fund in Asia designed specifically to track the performance of XRP, the digital asset integral to Ripple's global payment ecosystem. This fund is aimed at professional investors and offers a unique opportunity to gain exposure to XRP without the complexities of direct asset management. Investors can subscribe through cash and in-kind options, with the fund providing monthly liquidity.

Ripple, as an early backer of the fund, is looking to enhance its strategic partnership with HashKey Capital, which already manages Hong Kong–listed spot ETFs for Bitcoin and Ethereum. This collaboration not only solidifies Ripple's presence in the Asian market, but also opens avenues for future financial products, such as the potential tokenization of a money market fund on the XRP Ledger. Fiona Murray, Ripple's Managing Director for the Asia-Pacific region, highlighted that this partnership is part of a broader strategy to introduce more regulated cryptocurrency products for institutional investors in the region, aiming to foster a more robust crypto landscape in Asia.

Advanced

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Weekly Institutional Insights: Trump’s desire to fire Powell might induce volatility; XRP ETF coming

Hong Kong's Securities and Futures Commission (SFC) has approved a new Ethereum ETF with staking capabilities, allowing institutional investors to earn staking rewards.

Daily top performer — Pyth Network (PYTH)

The S&P 500 dropped 1.5% to 5,282.70 this week, down 5.9% in April and 10% year-to-date, led by tech losses. Real estate and energy outperformed, while political pressure on Fed Chair Powell and inflation concerns weighed on sentiment. Gold dipped 0.6% to $3,319 after a record high, as Powell’s stagflation warning tempered its rally. Despite the pullback, the uptrend remains intact. The Coindesk Indices, which tracks the broader crypto market, are up by 0.77%, with Bitcoin and Ether rising 0.64% and 0.72%, respectively, over the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today's top performer is PYTH, up 10.1%, following the launch of Pyth Entropy for secure on-chain random number generation by Soneium.

Pyth Network (PYTH),  is a blockchain oracle system that delivers real-time crypto price data to blockchains, enabling smart contracts to react to market changes. Soneium 

 Pyth Entropy, a tool for securely generating random numbers on-chain. Two apps, HandsNFT AI and 2p2e, are already utilizing Pyth Entropy to create unpredictable and engaging experiences.

Hong Kong's Securities and Futures Commission (SFC) has approved a new Ethereum ETF with staking capabilities, allowing institutional investors to earn staking rewards. This approval follows recent changes to local laws, with China Asset Management (ChinaAMC) partnering with OSL Digital Securities to launch the ETF by May 15. The ETF will offer exposure to Ethereum staking, transforming it from a passive investment into an active participant in the Ethereum network. The staking process is powered by Kiln, with OSL providing custody and insurance services. The rewards will contribute to the ETF's net asset value, benefiting shareholders.

Yesterday, Bitcoin spot ETFs saw $25.9M in inflows, all from non-GBTC funds, while GBTC recorded no flow.

" and a points campaign called Drops, where users can earn points—potentially leading to an airdrop—by engaging with Linera content on X. To join, sign up on 

, complete tasks like joining Discord and interacting on X, then enter the campaign. Keep engaging to earn more points, but avoid spamming.

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Hong Kong approves Ethereum ETF with staking rewards, boosting institutional participation

Bitcoin

Blockchain

BitVM (Bitcoin virtual machine) is a computational engine designed to enable smart contract–like functionality for Bitcoin. 

BitVM_transactions.png

In early October 2023, the acclaimed blockchain developer Robin Linus released the white paper for BitVM, a computational engine for 

 chain. Linus is a prominent figure in the industry, having created ZeroSync, a 

 protocol for Bitcoin. His latest innovation, BitVM, has the potential to impact the industry on a much more profound level than the ZeroSync platform.

By enabling smart contract functionality for the Bitcoin network, BitVM has the potential to leverage the massive army of Bitcoin holders and traders. Currently, smart contracts and 

 (ETH) and other smart chains. Yet, the world’s largest chain — Bitcoin — eschews the ongoing DApp revolution. BitVM is the latest and probably most promising technology that’s about to change the status quo.

Despite being the first and largest blockchain, Bitcoin isn’t natively equipped to run smart contracts, the technology that underpins DApps. As such, it largely remains a platform for cryptocurrency asset transfers and storage.

 details the technological implementation of this promising idea.

You can think of BitVM as an add-on computational layer for the Bitcoin chain that developers can use to power smart contract–like functionality. Notice how we use the term “smart contract–like” instead of simply “smart contract” when discussing BitVM. This is because there’s an important distinction between the complex smart contracts that run on Ethereum and BitVM's smart contract capabilities.

While Ethereum smart contracts are capable of supporting multi-party transactions, BitVM is designed to enable mostly two-party transactional exchanges. We’ll delve deeper into the distinction between the two in a later section.

Most of the processing in BitVM happens off-chain, reducing the load on the Bitcoin chain and enabling more efficient operations. The off-chain processed transactions are bundled into batches and posted to the underlying Bitcoin blockchain, utilizing a validity confirmation model similar to the one used in 

An essential feature of BitVM’s smart functionality is its 

. Turing-complete systems are capable of executing computational tasks of any degree of complexity. BitVM’s Turing completeness ensures that this computational engine can be used to program sufficiently complex smart contract–based applications.

BitVM's functionality is made possible through Bitcoin's 

. BitVM uses a model combining fraud proofs with a challenge-response protocol to process and validate transactions between two parties: a prover and a verifier. The prover initiates a computational task and sends it over the channel established between themselves and the verifier, who then confirms the validity of the computation. Once verified, the transaction is added to the overall batch collated for posting to the underlying Bitcoin blockchain.

If the verifier rejects the computational task sent by the prover, Bitcoin’s on-chain validity checking mechanism can then be used to examine the transaction and settle the dispute. The additional on-chain validation in such disputes protects the prover from spurious, wrongful rejections by the verifier, and the system is designed to punish verifiers who unjustly reject legitimate computations performed by provers.

At the same time, the on-chain dispute validation is also designed to penalize provers who send fraudulent or incorrect computations. If the verifier’s dispute claim is found to be justified, it’s the dishonest prover who is penalized by the system.

While additional on-chain validation in cases of disputes consumes the resources of the Bitcoin blockchain, the two-way interactions in which no disputes arise are settled within the BitVM environment, with no consumption of Bitcoin’s resources. The key idea is that the vast majority of two-way interactions between provers and verifiers aren’t going to result in disputes. As such, the overall impact of BitVM transactions on Bitcoin’s chain will be minimal.

BitVM’s model, therefore, assumes that most transactions posted to the blockchain are valid — thanks to the mutual agreements between provers and verifiers — unless a fraud claim is raised. Such an assumption is similar to the one used in classic blockchain optimistic rollups. While the exact technical nuances of optimistic rollups and the model used by BitVM differ, the verification model used by the computational engine can generally be described as one representation of optimistic validation technology.

After bundling transactions into a batch, BitVM then posts them to the Bitcoin blockchain. Both the optimistic validation model and batch-style processing used by BitVM significantly reduce the computational load on Bitcoin. As such, BitVM not only enables smart contract functionality on Bitcoin but does so in a highly efficient, low-consumption manner.

BitVM opens up enormous potential to leverage the world’s largest blockchain beyond simple Bitcoin transactions. The technology behind BitVM and its Turing-complete nature enables a large number of DApp solutions, mostly those that involve two-party interactions.

Some of the most promising use cases of BitVM on Bitcoin’s blockchain include the following.

Automated or High-Volume Payment Solutions

While Bitcoin by itself can be used for ordinary 

 (P2P) payments between two parties, the lack of smart contract functionality on its blockchain currently prevents the use of sophisticated payment solutions based on high-volume transactions or automated arrangements. 

There are many businesses, particularly within the fintech and supply chain industries, that would love to see such capabilities within Bitcoin. For instance, BitVM could enable automatic fulfillment of payment obligations upon delivery of goods or services. Frequent micropayments between two parties have also become a possibility, thanks to BitVM’s efficient transaction processing.

The core functionality of betting DApps involves transactions between the betting service operator and each individual bettor. BitVM could potentially enable two-way contracts, in which bettors place their bets with the operator and get paid or charged based on the outcome of the sports games and other events they punt on.

BitVM’s smart contract–like functionality can also be used to power certain 

 (DeFi) apps. A potential use case for the computational engine would be apps in which a chain of transactions between just two parties is enough to settle a contract. One example of such an app is a 

 model. Under this model, two parties — a seller and a buyer — would enter into a contract to swap cryptocurrencies. 

However, the lack of multi-party functionality within BitVM might make some of the more complex DeFi apps — for instance, automated market maker (

)–based DEXs — challenging to implement natively. AMM DEXs heavily utilize 

, repositories from which many users deposit funds and get paid a share of the trading fees generated from the pools. As such, these exchanges require fairly complex multi-party implementations.

Environmentally-Friendly Payment Solutions

Being a massive consumer of energy, the Bitcoin blockchain isn't among the first choices of companies focusing on low environmental impact. BitVM’s efficient, low-footprint processing model enables transactions that use very little energy. The engine, therefore, can be used for green payment solutions. For instance, in the agricultural sector, the term "green payments" refers to payments (made to producers) that create a positive environmental impact. BitVM could be used to develop solutions that facilitate these agricultural payments.

BitVM has many conceptual similarities to the 

 (EVM), the computational engine that powers the Ethereum blockchain. EVM is a critical component of Ethereum and enables smart contracts and DApps on the blockchain. 

Similar to BitVM, EVM is a Turing-complete system, a property that allows developers to create apps with sophisticated functionality. However, BitVM and EVM also have several distinctions. The key differences between these two computational engines are as follows:

BitVM’s core concept of Turing-complete Bitcoin contracts is nothing short of revolutionary. However, despite the engine’s merits and promise, it has certain limitations. One major limitation of BitVM is its inability to handle multi-party transactions, which restricts the use of more complex computations and solutions. As modern DApps grow more complex, multi-party functionality becomes vital.

Another limitation of BitVM arises from the heavy off-chain processing load (which, curiously enough, is one of its key merits). While off-chain processing is excellent for reducing the load on the Bitcoin network, it gives rise to two potential issues, the first of which is the resulting load placed on off-chain resources. Large-scale transactions and apps might place heavy demand on off-chain computing resources, which could significantly diminish BitVM’s environmental and efficiency advantages.

The second issue deals with transaction security. Bitcoin’s built-in cryptographic security mechanism has an excellent track record of protecting the network from hacker attacks and fraud. Moving a large proportion of transaction processing off-chain inevitably introduces more weak points to the overall data security framework.

Some of BitVM’s limitations might be addressed by combining the engine with a Bitcoin 

 protocol, which runs over the Bitcoin blockchain, is capable of supporting more complex, multi-party smart contracts.

Turing-complete Bitcoin contracts offered by BitVM are a revolutionary concept with the potential to fundamentally change the landscape of the cryptocurrency industry. Various DApp niches, from DeFi and payments to betting and supply chain solutions, might profoundly benefit from utilizing the computational engine.

BitVM is also a major undertaking aimed at drawing in the multimillion army of BTC holders to participate more actively in the crypto industry beyond mere asset transfers and storage. At the moment, 

 have non-zero balances. This represents a vast potential for developers utilizing BitVM.

The highly promising computational engine is now in the early stages of its conceptual development. Its white paper was just released in early October 2023, and there’s going to be a period of time during which the developer community “warms up” to the concept of Turing-complete Bitcoin contracts. Over the following few months, we’ll all likely hear more about BitVM. Stay tuned!

What Is BitVM and How Is It Different From EVM?

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