This week, we dive into the latest EY Digital Assets Survey and what it reveals about institutional sentiment: 85% of respondents increased their crypto allocations in 2024—and nearly the same expect to do so again in 2025. We unpack which assets are in focus, the critical role of regulation, and how institutions are beginning to engage with DeFi.
On the market side, ETF inflows remain strong, especially into IBIT, with ETH reversing its outflows from the previous week. We analyze current holder trends and potential upside scenarios. We also look at Bitcoin's increasing correlation with gold and how it's behaving around key geopolitical headlines.
In macro, we touch on updates from the White House and key economic prints—JOLTs, ADP, GDP, and the BoJ rate decision—all leading up to Friday’s NFPs.
In the news section, we discuss BTC treasury trends at 21 Capital and explore Solana-based DeFi treasury entities like Upexi and DeFi Development Corp.
Onchain, we review the implications of EIP-9698, early signs of renewed strength in ETH signals, and the Loopscale exploit. We also note Monero-BTC swap developments and DeFi TVL climbing back above $100B.
We close with key upcoming catalysts to watch: Friday’s Non-Farm Payrolls, the May 7th FOMC decision, and Ethereum’s long-awaited Pectra upgrade.
Topics Covered:
Host:
Ben Floyd, Head of Execution Services
Speakers:
David Duong, Head of Institutional Research
Brock Miller, Senior Staff Software Engineer
Joshua Pak, Senior CES Sales Trader
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