The Ethereum Foundation has sold 10,000 ETH to BitMine Immersion Technologies, netting around $22.9 million at an average price of $2,292 per ETH. As one of the largest organizations managing decentralized development and community investments behind Ethereum, the Foundation stated that the funds would be used to support core operations, protocol research and development, ecosystem investments, and community grant programs.

Details of the sale series

This latest transaction closely followed a similar sale the previous week, in which the Foundation sold another 10,000 ETH to BitMine at an average price of $2,387 per coin, amounting to approximately $23.87 million in total. Earlier in March, the Foundation had sold 5,000 ETH to BitMine at a $2,043 average price. With these recent deals, BitMine has added roughly $47 million worth of ETH to its portfolio over the last seven days alone.

Recent wallet movements by the Ethereum Foundation also attracted attention after it withdrew 17,035 ETH from staking last week, equivalent to about $40 million at current market prices. This move suggests the Foundation has shelved its previous target of maintaining 70,000 ETH in staking, at least for now.

Community reactions and criticism

The back-to-back sales have sparked debate within the crypto community. Some members have questioned why the Foundation required $46 million in such a short time, and why developers are not being compensated directly in ETH. Overall, these reactions highlight calls for increased transparency regarding the Foundation’s financial decisions.

One community member summarized the sentiment by asking, “Why do you need $46 million in two weeks? How much are you spending, and what exactly is it for? Isn’t anyone getting paid directly in ETH?” reflecting the demand for greater clarity.

Last year, the Ethereum Foundation faced similar criticism over sell-offs and temporarily pledged to limit such activities. To offset community concerns, it subsequently allocated a portion of its assets to staking, aiming to reduce pressure from further sales.

BitMine’s ETH reserves surge

BitMine Immersion Technologies has been rapidly growing its Ethereum holdings. The company now possesses the largest institutional Ethereum reserve globally, totaling nearly 5 million ETH. This milestone was reached after BitMine recorded its largest weekly purchase of the year, adding 101,901 ETH to its assets. The board is chaired by Tom Lee, who is well known in the crypto sector for his views on investment trends and risk management.

Currently, around 83% of BitMine’s ETH holdings, or about 4.19 million ETH, are actively staked on the network. This portion has increased from approximately 70% last week, reflecting a notable short-term boost and reinforcing BitMine’s contribution to Ethereum network security.

ETH is currently trading at around $2,303, with little price movement in the past 24 hours. However, Ethereum’s value has declined more than 53% from its all-time high of $4,953, recorded last August. According to CryptoAppsy data, ETH maintains this price level.

The Ethereum Foundation’s latest sales and staking strategy continue to be scrutinized by the community as the organization manages its substantial resources. Market watchers are paying close attention to whether further portfolio adjustments are forthcoming in the weeks ahead.

At the same time, BitMine’s pace of accumulation could lead to longer-term impacts on both its own operations and the broader ETH market, raising questions about future staking rates and liquidity.

As both organizations adapt their strategies, industry analysts suggest these moves may hint at evolving priorities for resource management within the Ethereum ecosystem.

The industry awaits further updates on how these major players deploy their ETH reserves, with particular focus on transparency, sustainability, and the ongoing development of Ethereum’s infrastructure.

Solana has established a new Switzerland-based research institute, Solana Research Institute (SRI), to assist financial sector institutions in navigating rapidly changing cryptocurrency regulations. This initiative comes at a time when competition is intensifying between public blockchains and permissioned networks, with the goal of helping finance companies make regulatory-compliant decisions.

A new step in institutional crypto adoption

SRI has launched under the leadership of Angus Scott, a former senior executive at Euroclear. Announced in February, its debut included the release of an approximately 60-page comprehensive report on the Solana network aimed at finance professionals. The study saw contributions from leading industry names such as Solana Foundation, Jito, R3, and Figment.

The institute is set to guide companies through frameworks such as Europe’s Markets in Crypto-Assets Regulation (MiCA) and the United States’ forthcoming National Stablecoin Innovation Act (GENIUS). By providing regulatory insights, SRI aims to make institutional participation in digital assets as safe and transparent as possible.

Solana’s move is part of a broader strategy to expand its presence in the institutional market, especially following the planned opening of the Solana Policy Institute in Washington in 2025. The initiative seeks to help regulated financial institutions feel more confident in adopting public blockchain technology.

Rising institutional interest backed by data

Ben Brophy, Solana Foundation’s Head of Institutional Growth for Europe, explained that SRI is designed to create informed discussion environments to help institutions move from trial phases to actual implementation. In his statement:

This institute will accelerate the transition from trials to real-world use for institutions by providing tailored analysis and informed debate.

The network has seen remarkable growth recently; in February alone, stablecoin transfers on Solana reached $650 billion, and by March, real-world asset token transfers exceeded $2 billion. These figures underline the rapid acceleration of stablecoin activity and asset tokenization on Solana.

Ethereum’s lead and ongoing challenges

Despite Solana’s progress, Ethereum remains the dominant platform in the decentralized finance ecosystem, boasting the highest liquidity. According to the latest DefiLlama data, total stablecoins on Ethereum now top $165 billion, with total value locked at around $44 billion. In comparison, Solana’s total is approximately $5 billion.

SRI’s research also highlights a noticeable increase in interest from traditional financial institutions in the blockchain sector over the last 12 months. Private meetings in London have reportedly included representatives from major industry players such as State Street and Depository Trust & Clearing Corporation.

Nick Almond, governance lead at Jito Foundation, noted that institutions are now focusing on more advanced requirements and operational risks. He emphasized that regulatory clarity in the US and Europe has enabled the sector to take more concrete steps forward.

Recently, there has been a shift from simply asking ‘Is this system viable?’ to collecting detailed requirements about transaction quality, market structure, and operational risk. With the maturation of sector infrastructure, institutional interest is expected to grow even further.

Nevertheless, some challenges remain. The industry is still maturing in areas such as custody, reporting, and market infrastructure, which are seen as hurdles to broader institutional adoption.

Amazon, Alphabet, Microsoft, and Meta all report Q1 2026 AI earnings after the close on April 29, with crypto traders tracking whether their combined $600 billion in planned 2026 AI capital expenditure is translating into commensurate revenue and cloud growth.

The four companies collectively plan to spend over $600 billion on AI infrastructure in 2026, with the central market question being whether that spend is producing measurable revenue acceleration.

Bitcoin has risen in correlation with tech stocks and Nvidia this year, meaning a disappointing earnings cycle could hit crypto via the same risk-off channel that equity selloffs typically trigger.

Microsoft Azure growth above 38%, AWS above 25%, Alphabet Cloud above 48%, and Meta advertising margins above 40% are the specific thresholds analysts are watching as proof that AI monetization has arrived.

AI earnings season reaches its most concentrated single session on April 29 when Amazon, Alphabet, Microsoft, and Meta all report after the close, the same afternoon as Powell’s final FOMC press conference. Yahoo Finance noted that capital expenditure guidance has overtaken headline earnings as the most market-sensitive line item, with combined 2026 AI infrastructure commitments of roughly $200 billion from Amazon, $175 to $185 billion from Alphabet, $146 billion from Microsoft, and $115 to $135 billion from Meta.

AI Earnings Results Could Move Crypto Either Direction Before Asia Open

As crypto.news reported, the last time Big Tech AI capex figures landed without sufficient revenue justification, top AI tokens dropped over 20% and Bitcoin fell sharply in the same session, as investors feared that astronomical infrastructure costs would erode margins before monetization arrived. The February 2026 episode illustrated how tightly crypto has become correlated with the AI investment narrative: a miss on cloud growth or a raised capex guide without matching revenue acceleration is processed by markets as evidence that the AI return on investment timeline is longer than priced, which tightens risk sentiment across both equity and crypto simultaneously. For tonight’s reports, the specific thresholds that matter are Microsoft Azure growth above 38%, AWS above 25%, Google Cloud above 48%, and Meta advertising margins above 40%. Any of these numbers coming in materially below expectation, particularly combined with raised capex guidance, would be a negative catalyst for Bitcoin after the Asia open.

The Bitcoin-AI Correlation That Makes Tonight Matter

As crypto.news documented, the correlation between Bitcoin and Nvidia reached elevated levels during a three-month rolling window through late 2025, and data from the Nasdaq showed a materially positive aggregate relationship between tech earnings outcomes and subsequent Bitcoin price action. The mechanism is direct: when AI-related equities sell off sharply on earnings disappointments, macro and growth funds reduce exposure across risk assets simultaneously, and Bitcoin, despite its non-sovereign properties, gets caught in the liquidity contraction alongside everything else that front-ran the AI spending boom. A beat cycle in which all four companies show cloud growth meeting or exceeding consensus, with AI revenue lines contributing meaningfully to that growth, would remove the single largest overhanging risk for risk assets heading into May.

Core Scientific announced plans to transform its Texas facility into a large-scale artificial intelligence data center campus. The project, unveiled in April 2026, targets up to 1.5 gigawatts of power capacity and reflects the ongoing shift from Bitcoin mining to computing infrastructure.

Core Scientific launches AI data center project

The company is developing its Pecos, Texas site into a high-density colocation hub for AI workloads.

Key project details include:

total capacity of up to 1.5 GW

around 1 GW available for leasing

300 MW repurposed from mining

initial capacity expected in early 2027

The first data hall has completed foundational work and is entering the construction phase.

Demand for compute power is rising

The move reflects changing economics in Bitcoin mining. Declining margins are pushing companies to diversify.

Key drivers include:

rising demand for AI compute

increased mining competition

higher energy costs

expansion of cloud infrastructure

Mining companies already control critical resources. These include power access, infrastructure, and operational expertise.

This positions them well for data center development.

Miners will accelerate shift to data centers

The shift may accelerate the transformation of the mining sector. Companies are evolving into infrastructure providers.

Key implications:

growth of AI data center capacity

reduced reliance on mining revenue

increased competition for energy

capital reallocation across sectors

Other industry players are following similar strategies:

MARA Holdings expanding into AI

Hut 8 Corp. building data centers

TeraWulf developing HPC infrastructure

Market reduces dependence on Bitcoin

Core Scientific is scaling its infrastructure aggressively. The company acquired over 200 acres of land to support expansion.

It is also securing funding:

$3.3 billion through secured notes

$1 billion credit facility

The industry is shifting toward a hybrid model. Mining is becoming part of a broader computing ecosystem.

Companies are leveraging existing assets to support AI and high-performance workloads.

As a result, dependence on Bitcoin price is gradually decreasing. The future of the sector lies in digital infrastructure and computing services.

Crypto exchange Coinbase has partnered with real-time cross-border payments firm Nium to bring stablecoin payments to its 190-plus country network.

The goal is to replace the slow and costly SWIFT-based traditional banking services, which can take days to complete.

The transactions can be made in stablecoins and paid out in local fiat currencies.

Coinbase brings wallet infrastructure, stablecoin liquidity, custody, and on-ramps to Nium, as well as handling regulatory compliance. The system will use Circle’s USDC stablecoins. USDC is the second-largest stablecoin issuer, with almost $78 billion in circulation.

So far the partnership is aimed at providing business and banking customers with real-time payment capabilities, freeing them from the need to pre-fund cross-border payments, which leaves large stacks of money locked away in order to make payments quicker under traditional banking methods.

“Fiat and onchain infrastructure will increasingly work together, not in isolation,” said Prajit Nanu, CEO and founder of Nium, in a statement. “This partnership with Coinbase makes that future operational today — giving our clients a single platform to send, receive, and spend stablecoins at scale ahead of a fundamental shift in how money moves.”

Nium has also launched a USDC-based stablecoin credit card to be used for everyday spending at millions of merchants globally.

Western Union launching stablecoin

On the retail side of remittances, Western Union announced that its USDPT stablecoin is expected to launch in May.

The question is not whether Western Union will be active in stablecoin-based cross-border payments, but how fast the firm can scale them, according to president and CEO Devin McGranahan during its first-quarter earnings call.

Western Union has more than 350,000 cash pickup locations in more than 200 countries around the world. Global remittances accounted for the movement of more than $900 billion in 2024, according to the World Bank. The cost of sending $200 is more than 6% on average.

USDPT will launch on the Solana blockchain, with support from infrastructure provider Crossmint.

The US spot Bitcoin ETFs have just closed eight consecutive days of net inflows, totaling more than 2 billion dollars in less than two weeks. A rare streak, which is no coincidence. Are we on the dawn of a new cycle of institutional accumulation?

In brief

Spot Bitcoin ETFs record eight consecutive days of positive flows.

More than 2 billion dollars flowed in over this period.

BlackRock’s IBIT dominates with $167.5 million raised on Thursday.

An impressive streak driven by finance giants

Last Thursday in the United States, spot Bitcoin ETFs collectively gained 223.2 million dollars in net inflows. BlackRock leads the pack, with 167.5 million dollars recorded on its IBIT product alone. Behind it, Ark Invest/21Shares, Morgan Stanley, and Grayscale also showed positive flows for the day.

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A few slight outflows temper the picture: Fidelity, Bitwise, and VanEck collectively lost about thirty million dollars. But these occasional withdrawals do not change the overall sentiment, which remains clearly bullish.

What stands out is the consistency. Eight days straight, without interruption. This kind of regularity is not explained by speculators seeking a quick hit. These are institutional investors deliberately positioning capital with a medium-term outlook.

Bitcoin viewed as a strategic asset, not speculative

Analysts agree on one point: this rotation of capital reflects a profound shift in perception. After the outflows recorded early in 2026, institutions seem to view the Bitcoin correction as an accumulation window, not a warning signal.

BTC, on its side, confirms its relative strength. Over the last 30 days, it has advanced by about 10%. At the time of writing this article, it was trading around 77,505 dollars, slightly down by 0.40% on the day, in a range between 78,300 and 78,600 dollars.

It is admittedly far from its all-time high of 126,000 dollars reached in October 2025. But its market dominance has just crossed 60% for the first time this year, a strong technical signal often associated with consolidation phases before a rebound.

Also noteworthy: Ethereum ETFs, which themselves had recorded ten consecutive days of inflows, saw net outflows of 76 million dollars during the last session. A contrast that reinforces the idea that Bitcoin remains, for now, the preferred safe haven of major investors.

Ultimately, flows into Bitcoin ETFs send a clear message: institutional capital is methodically returning to an asset now considered strategic. If this momentum continues, the question may no longer be if BTC will regain its highs, but when.

Spot Bitcoin ETFs in the United States have seen a persistent influx of investments, driven by unwavering institutional interest. Recent data reveals that total holdings in these ETFs now amount to nearly 1.3 million BTC, worth approximately 103 billion dollars in total market value.

IBIT: The Unyielding Leader

Prominent in the realm of Bitcoin ETFs is the iShares Bitcoin Trust (IBIT), a product of BlackRock, a leading asset management firm. Over a mere span of seven trading sessions, IBIT attracted a staggering 1.4 billion dollars in new capital, comprising more than 73% of all investments in spot Bitcoin ETFs in the U.S. At present, IBIT manages holdings of about 809,870 BTC, which constitutes a significant 62% of all U.S. spot Bitcoin ETF assets.

BlackRock, with its immense asset management portfolio, supports IBIT’s role as a foremost option for investors seeking Bitcoin exposure, especially during market fluctuations that demand high liquidity.

What Drives the Inflow Momentum?

Institutional participation extends beyond BlackRock. Morgan Stanley’s Bitcoin Trust fund, introduced in early April, has also been attracting significant interest. This fund has garnered 95 million dollars in inflows without recording any net outflows, marking its resilience since launch.

Over the past seven sessions, U.S.-based spot Bitcoin ETFs collectively amassed 1.9 billion dollars in inflows, a record-breaking figure surpassing the prior high of 1.2 billion dollars recorded in March. This influx has been instrumental in supporting Bitcoin’s price rise, which appreciated 11% in the last month, topping the 79,000 dollar mark briefly.

Has the Market Sentiment Shifted?

Despite Bitcoin’s marginal decrease of 0.40% within the past 24 hours, a reflection of short-term profit-taking, its price hovers near 74,005 dollars. The continuous capital inflows into ETFs highlight a robust market foundation.

Beyond Bitcoin, attention is gradually swinging back to Ethereum products. Spot Ether ETFs registered 633.6 million dollars in inflows over the previous ten sessions, reigniting interest among various investor segments.

● U.S.-listed Bitcoin ETFs secured 1.9 billion dollars in seven trading days.

● BlackRock’s IBIT dominates, holding 809,870 BTC.

● Ethereum products capture fresh investor focus with over 633 million dollars.

Even though the Crypto Fear and Greed Index has risen to 46, indicative of increased optimism, it remains in the zone of “fear,” signaling investor cautiousness in the overarching market climate.

BlackRock has ramped up its Bitcoin accumulation, purchasing more than $900 million worth of the asset in just five days, signaling a sharp resurgence in institutional demand. Data highlighted by Arkham Intelligence shows the asset management giant dominating flows into Bitcoin exchange-traded funds (ETFs), accounting for over 90% of total inflows during the period.

The buying spree comes at a time when interest in Bitcoin investment products is accelerating across the broader market. BlackRock’s activity not only positions it as the leading force in ETF inflows but also reinforces its standing as the world’s largest Bitcoin fund manager.

ETF dominance signals institutional comeback

BlackRock’s recent purchases suggest a strong return of institutional confidence after a period of cautious positioning triggered by market volatility. Earlier price swings had led some large investors to trim exposure, but the latest wave of accumulation indicates renewed conviction.

By contributing the overwhelming majority of ETF inflows, BlackRock has effectively set the pace for institutional participation in Bitcoin markets. The scale and consistency of its buying highlight a shift from reactive trading to strategic accumulation, often seen during periods of strengthening sentiment.

Shrinking supply raises scarcity concerns

Alongside rising demand, Bitcoin’s available supply on exchanges continues to decline, intensifying discussions around a potential supply squeeze. The report notes that only about 2.6 million Bitcoin remain on exchanges, a figure that has been steadily dropping as institutional players accumulate.

Major holders such as Strategy and Metaplanet have also been increasing their positions, further tightening available supply. Strategy expanded its Bitcoin position, acquiring 34,164 BTC over the past week as part of its ongoing treasury strategy funded through equity issuance, according to a newly filed Form 8-K. This trend has sparked renewed debate among analysts about a looming “supply shock,” where demand outpaces accessible Bitcoin in the market.

Bitcoin also appears to be carving out a new trading range as fresh sources of demand emerge and selling pressure eases. Markus Thielen’s latest analysis highlights improving institutional inflows into spot ETFs, a rising institutional premium, and steady buying linked to MicroStrategy, all pointing to a gradual shift in market dynamics.

Tether CEO Paolo Ardoino says USDT supply has hit a record $188b, cementing the stablecoin’s dominance as broader stablecoin liquidity sits near all-time highs.

Tether CEO Paolo Ardoino says USDT supply has reached a record $188 billion.

The new peak comes weeks after stablecoins hit a combined $315 billion market cap.

USDT now dominates the sector as its float marches higher despite recent outflows.

Tether CEO Paolo Ardoino says the circulating supply of USDT has reached a new all-time high of $188 billion, extending the stablecoin’s lead over rivals as on-chain dollar demand climbs.

In a post on X, Ardoino highlighted the new record as another milestone for what he has called a “digital dollar designed for the masses,” after previously disclosing that more than 550 million people in emerging markets now rely on USDT for payments and savings.

The figure marks fresh growth from early March, when data compiled by crypto.news showed Tether’s market cap around $184 billion, accounting for roughly 58% of a then-record $315 billion stablecoin sector.

Tether’s USDT climbs to $188b all-time high

According to Tether’s own disclosures and third-party trackers, the company held around $187 billion in assets and reported over $10 billion in profit for 2025, giving it one of the largest capital cushions in the crypto industry and allowing ongoing USDT issuance to keep pace with demand.

That expansion has come despite a brief cooling earlier this year, when Bloomberg reported that USDT’s supply posted its steepest monthly drop since the FTX collapse, shrinking by about $1.5 billion in February after a $1.2 billion pullback in January as large holders rotated capital.

Ardoino has argued that those flows reflect tactical positioning rather than a structural shift away from Tether, pointing in interviews to strong demand from users in inflation-hit economies such as Argentina, who turned to stablecoins when pandemic-era restrictions made access to physical dollars harder.

In a February quarterly update, Tether said USDT’s market cap had already hit a then-record $187.3 billion as of late 2025, with total reserves of $192.9 billion and net equity of $6.3 billion, framing the business as both profitable and overcollateralized relative to its liabilities.

Ardoino has also emphasized USDT’s distribution metrics, recently noting on X that the largest single sender accounts for less than 5% of USDT transfers, versus nearly 25% for some competing stablecoins, as evidence that usage is broad-based rather than dominated by a handful of whales.

With the USDT supply now at $188 billion, Tether’s token remains the third-largest crypto asset overall by market cap behind Bitcoin and Ethereum, according to crypto.news market data.

For more context on the stablecoin landscape, crypto.news recently reported on the stablecoin market’s $226.8 billion all-time high in early 2025 and the subsequent climb to a $315 billion peak, both milestones that were driven primarily by USDT’s aggressive supply growth.