Crypto Market Daily Report
1. Trump Makes Major Statement: Ending the Regulatory War, Advocating for Stablecoin Legislation
On March 20, U.S. President Trump delivered a historic speech at the **Digital Asset Summit** in New York, becoming the first sitting U.S. president to address cryptocurrency issues. He explicitly stated that he would end the previous administration's "regulatory war" on cryptocurrencies, including halting the controversial "Operation Chokepoint 2.0" initiative, and called on Congress to pass the "Genius Act" to establish a clear regulatory framework for stablecoins. Trump also announced the establishment of a U.S. digital asset reserve, incorporating mainstream tokens like Bitcoin and Ethereum into a strategic reserve system, and pledged not to sell Bitcoin assets obtained through criminal or civil forfeiture.
2. NYSE Innovation Proposal: Ethereum ETF Staking Function May See Breakthrough
The New York Stock Exchange (NYSE) recently submitted an application to the SEC, requesting approval for Grayscale's Ethereum spot ETF to support staking functionality. If the proposal is approved, investors could participate in Ethereum 2.0 staking rewards by holding ETF shares, marking an important milestone in the deep integration of crypto assets and the traditional financial system. Previously, the SEC had prohibited such operations on the grounds of "security attribute disputes," but with a shift in regulatory attitude, the market expects a significant increase in the probability of legislative approval before August 2025.
3. Nasdaq Links to Crypto Market: Exploring All-Weather Trading Mechanism
Due to the volatility of the cryptocurrency market and the flow of institutional funds, Nasdaq is promoting research on an all-weather stock trading mechanism. Data shows that in March 2025, the correlation between the Nasdaq index and Bitcoin price reached 0.78, indicating that changes in crypto market liquidity have become a key variable affecting technology stock trading strategies. This move aims to enhance market efficiency by optimizing trading hours while paving the way for the listing of crypto assets. Currently, the Nasdaq index stands at 17,691.63 points, with a slight decline of 0.33% for the day, as the market closely watches the synergistic effects of crypto policies and macroeconomic policies.
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