According to the latest data from Gate, gold prices rose to $4,797.46 per ounce, a daily increase of 1.95%. Silver prices rose to $77.110 per ounce, a daily increase of 5.76%. The BVIX (BTC Volatility Index) is currently quoted at 44.90, a daily decrease of 6.89%. The EVIX (ETH Volatility Index) is currently quoted at 66.54, a daily decrease of 2.66%. In the foreign exchange market, the USD/CNH exchange rate fell 0.45% to 6.82332. The USD/JPY exchange rate fell 1.02% to 157.985. In global stock indices, the Euro Stoxx 50 rose 4.09% to 5,941.30 points; the UK FTSE 100 rose 2.48% to 10,677.73 points; and the German DAX 40 rose 3.95% to 24,151.35 points. In commodities, WTI crude oil fell 16.62% to $92.81 per barrel, while Brent crude oil fell 13.65% to $93.93 per barrel. Gate allows users to directly trade traditional financial market products on its platform, providing a one-stop solution for precious metals, forex, global equity CFDs, major indices, and commodities, achieving deep integration of crypto assets and traditional financial assets. Gate TradFi features have been fully integrated into the Gate App and Web platform, allowing users to easily participate in global asset price trading without switching platforms, unlocking more strategies and opportunities outside the crypto market, and continuously enhancing their diversified asset allocation experience.

Digital asset investment products experienced net weekly inflows totaling $224 million, according to CoinShares. Bitcoin was a significant contributor, attracting $107.3 million. According to NS3.AI, the week also saw minor outflows influenced by stronger retail sales data, hawkish investor expectations, and mixed geopolitical signals.

Key TakeawaysMorgan Stanley launches MSBT spot Bitcoin ETF with 0.14% fee, lowest in market.BlackRock IBIT remains leader with ~$55B AUM and highest liquidity.MSBT leverages $7 trillion wealth management network to drive flows.Move signals growing fee competition and distribution-driven ETF market shift.Morgan Stanley Enters Bitcoin ETF Market With Low-Cost OfferingMorgan Stanley has launched its spot Bitcoin ETF, trading under the ticker MSBT, marking one of the most significant new entrants into the crypto ETF market.The fund debuts with a 0.14% expense ratio, undercutting the 0.25% fee charged by BlackRock’s iShares Bitcoin Trust (IBIT), currently the dominant product in the sector.IBIT Remains Market Leader in Liquidity and ScaleDespite the new competition, IBIT continues to lead across key metrics:~$55 billion in assets under managementHighest trading volume among Bitcoin ETFsDeep options market liquidityThis liquidity advantage has made IBIT the preferred vehicle for active traders and institutional positioning.Distribution Power May Shift ETF FlowsMorgan Stanley’s competitive edge lies in its distribution network.With access to $7 trillion in client assets through its wealth management arm, the bank can direct capital toward MSBT via financial advisors, potentially reshaping inflow dynamics.In contrast to IBIT’s strength in trading liquidity, MSBT is positioned to capture flows through advisory-driven allocations.Fee Compression Signals Market MaturityThe launch highlights a broader trend toward fee competition in the Bitcoin ETF market.As more established financial institutions enter the space:Cost sensitivity among investors is increasingFee differentials are becoming a key differentiatorCompetition is shifting from trust and scale to pricing and accessMarket Structure Splits Between Liquidity and DistributionThe Bitcoin ETF market is increasingly bifurcated:IBIT: Dominates liquidity, trading, and derivatives activityMSBT: Competes on cost and distribution reachThis dynamic reflects a maturing market where investor preferences differ between active trading and long-term allocation channels.First Real Challenge to IBIT’s DominanceMorgan Stanley’s entry represents the most credible challenge yet to IBIT’s market leadership.While IBIT’s liquidity advantage is unlikely to be displaced in the near term, MSBT’s lower fees and distribution strength could gradually shift inflows.The key question going forward is whether:Advisors begin reallocating client capital into MSBTFee competition accelerates across issuersIBIT’s dominance in inflows begins to erodeFor now, the launch marks a new phase of competition in Bitcoin ETFs, where pricing and distribution may become as important as scale and liquidity.

In an interview with Bloomberg, Blockstream CEO Adam Back stated that quantum computers do not currently pose a real threat to the Bitcoin network, but the industry should begin preparations immediately. He pointed out that current hardware generally lacks error correction capabilities, and quantum risks are a long-term challenge rather than a short-term crisis. Back emphasized that the core issue is not reaching a consensus on when quantum computers will become sufficiently threatening, but rather providing Bitcoin holders with approximately a ten-year window to migrate their keys to a quantum-resistant format. He stated that a 20-person research team is currently conducting related work, publishing papers, and implementing practical deployments, with Blockstream's Liquid network already in use as an early testing platform. Furthermore, post-quantum cryptography has moved from the theoretical stage to the implementation stage, with NIST finalizing relevant standards by the end of 2024. The main challenge facing the industry is how to coordinate an orderly migration before the risks become imminent.

CoinDesk 20 experienced a 4.7% rise, reaching 2,027.7, marking an increase of 91.47 points since 4 p.m. ET on Tuesday. According to NS3.AI, all 20 assets showed positive movement, with Internet Computer leading the gains at 12.1%, followed by NEAR Protocol at 8.9%.

A spokesperson for the Iranian Oil, Gas and Petrochemical Exporters Union stated that Iran plans to charge all oil tankers passing through the Strait of Hormuz a passage fee of $1 per barrel during the two-week ceasefire. Tankers will be required to use the northern route closer to the Iranian coast, declare their cargo to Iran via email, and complete payment within seconds using cryptocurrencies such as Bitcoin. Iran stated that this measure is to monitor for arms shipments, and unauthorized vessels will face the threat of military strikes. Currently, only a few tankers with ties to Iran are attempting passage, with approximately 300 to 400 vessels waiting to sail in the Gulf. Industry insiders say it will be difficult to clear the backlog within two weeks.

The Cboe Volatility Index, a key measure of anticipated stock-market fluctuations, experienced a significant decline. Bloomberg posted on X that this drop followed U.S. President Donald Trump's agreement to a temporary ceasefire in the ongoing conflict with Iran. The ceasefire has eased investor concerns, leading to reduced market volatility expectations.

A Polymarket contract predicting that WTI crude oil will drop to $90 by April 2026 has seen its implied probability rise to 89%, following a significant 35% increase within 24 hours. According to NS3.AI, the trading volume for this April 2026 contract surpassed $16.859 million, indicating heightened market activity and interest in this prediction.

NATO chief Mark Rutte is set to meet with U.S. President Donald Trump today. Bloomberg posted on X, highlighting that Trump's brinkmanship and his threats to obliterate a civilization have strained the already fragile transatlantic alliance. The meeting comes at a critical time as NATO seeks to address these tensions and reinforce its unity. The discussions are expected to focus on diplomatic strategies and maintaining stability within the alliance.

Currenc Group Inc., a fintech AI solutions company based in Singapore, has announced the completion of its common stock tokenization on the Securitize platform. According to Foresight News, this initiative supports both Ethereum and Solana blockchain networks. The move aims to advance a new model for public markets, enabling stocks to be not only digitally represented but also more functional within modern financial systems.

Coinbase has officially contributed the x402 protocol to the Linux Foundation, making it a neutral internet standard.

The drift case exposed a legal vacuum in stablecoins: Circle had the ability to freeze funds but had no enforcement obligation, and lacked "safe harbor" legal protection when enforcing the freeze.

Ray Dalio's New Article: The World Is Entering a War Cycle (Golden Finance): We are in the midst of a world war that will not end anytime soon.

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Iran’s Bitcoin mining power has collapsed by 77% over the past quarter as conflict intensifies in the region, yet the global network remains largely intact—underscoring a critical reality: Bitcoin’s hashrate is shaped more by market economics than by war.

Elon Musk has amended his lawsuit against OpenAI to seek the removal of CEO Sam Altman and President Greg Brockman and wants any damages to go to the company’s charity arm.

UBS and a consortium of leading Swiss lenders are launching a 2026 sandbox to test a Swiss franc stablecoin, signaling a coordinated push to bring blockchain-based payments into the heart of traditional finance.

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Coinbase has received an Australian Financial Services Licence, allowing it to offer crypto, equity perpetuals, and later expand into futures, options, stock trading, and payments.