As of March 5, 2025, Bitcoin is trading at approximately $88,053.08, reflecting a 2.11% decrease over the past 24 hours. Ethereum is priced around $2,173.60, down 1.31% in the same period. Crypto markets face major shifts as technical moves and political decisions drive new strategies.
On March 7, 2025, US President Donald Trump signed an executive order to create a Strategic Bitcoin Reserve and a Digital Asset Stockpile. Today, the US government holds seized crypto worth $18.28 billion with 198,109 BTC valued at $17.87 billion. Furthermore, Texas passed a Bitcoin strategic reserve bill on March 6, 2025, and Bitwise filed an S-1 form on March 5, 2025 to launch an Aptos ETF that boosted the Aptos token by 7% as it jumped from $6.06 to $6.50. Moreover, the native token of Sui surged after a deal with Trump-affiliated World Liberty Financial. This article details these developments and explains their implications for the global crypto market.
Crypto Fear & Greed Index | Source: Alternative.me
The Fear and Greed Index has decreased to 25, still indicating an extremely fearful market sentiment. Bitcoin has remained below the $100,000 mark, experiencing limited whale accumulation and low volatility.
What’s Trending in the Crypto Community?
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President Donald Trump has signed the executive order to create a Bitcoin Strategic Reserve
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Ethereum’s Pectra upgrade has been activated on the Sepolia testnet, but a bug in the second "Pectra" test may delay the mainnet release.
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Bitwise has launched a Bitcoin and Gold hybrid ETP in Europe.
Trending Tokens of the Day
Trump Signs Executive Order on Strategic Bitcoin Reserve
Source: White House
US President Donald Trump signed an executive order on March 7, 2025 to establish a Strategic Bitcoin Reserve and a Digital Asset Stockpile.
Crypto tsar David Sacks said on X, "Just a few minutes ago, President Trump signed an Executive Order to establish a Strategic Bitcoin Reserve." Moreover, the order states, "The Reserve will be capitalized with Bitcoin owned by the federal government that was forfeited as part of criminal or civil asset forfeiture proceedings."
The reserve will be initially funded with seized assets. Moreover, the order creates a "U.S. Digital Asset Stockpile" consisting of digital assets other than forfeited Bitcoin. Bloomberg reported earlier that Trump was expected to sign such an order during the White House Crypto Summit on March 7, 2025.
Sacks described the Bitcoin reserve as "a digital Fort Knox for the cryptocurrency" and added, "It will be kept as a store of value." Furthermore, he explained that the stockpile is intended for the "responsible stewardship of the government's digital assets under the Treasury Department" and noted that the government would not acquire assets beyond those obtained through forfeiture proceedings.
Trump’s earlier posts on Truth Social mentioned that the reserve would include XRP, SOL, and ADA while later posts stated that ETH and BTC would be "the heart" of the reserve.
Global Implications of a US Crypto Bitcoin Reserve
A US crypto Bitcoin reserve carries major global implications. Furthermore, it sets a precedent for responsible digital asset management on a national scale. Moreover, the reserve provides a model for safeguarding seized crypto assets and stabilizing market volatility. Furthermore, countries around the world will watch closely as the US leverages its large crypto holdings to bolster fiscal credibility. Moreover, this move could influence other nations to explore similar strategies and strengthen the legitimacy of digital assets as a store of value.
Read more: Trump Orders Creation of U.S. Sovereign Wealth Fund: Could Bitcoin Play a Role?
Texas Senate Passes Bitcoin Strategic Reserve Bill
Texas state senator Charles Schwertner arguing for the merits of SB-21. Source: Bitcoin Laws
On March 6, 2025 the Texas Senate passed the Bitcoin strategic reserve bill SB-21 in a 25-5 vote. Furthermore, Texas State Senator Charles Schwertner introduced the legislation to help Texas shore up its balance sheet with a valuable scarce asset.
He stated, "We don’t have stacks of dollar bills and safes like we did in medieval times. What we have is digital currency." Furthermore, pro-Bitcoin lawmakers argued that Bitcoin is not a direct competitor to the US dollar but is more like gold and a hedge against inflation.
Senator Schwertner explained, "I would argue, and put forth, that because of central intervention and manipulation of the supply of currency in this case the US dollar, the ability to spend money through printing money has caused the dollar to fall in value and fall in worth."
Furthermore, he added that monetary inflation has caused people to lose faith in the US dollar. The bill must still be signed by the governor to become law and if enacted Texas will be the first state in the US to have a digital asset strategic reserve.
Bitwise Files S-1 to Launch Aptos ETF
Source: SEC
On March 5, 2025 Bitwise filed an S-1 form with the SEC to launch an Aptos ETF in the US. Furthermore, the filing explains that the ETF’s net asset value will be determined using the CF Aptos-Dollar Settlement Price. Moreover, Coinbase will serve as the custodian and the fund will be cash-settled with shares created and redeemed in blocks of 10,000.
The news caused the Aptos token to surge 7% as it jumped from $6.06 to $6.50. Moreover, Bitwise previously launched an Aptos exchange-traded product on the SIX Swiss Exchange in November 2024 that offers staking of the underlying tokens.
Aptos acknowledged the filing on X as the "initial step toward offering an ETF linked to Aptos in the US market." Moreover, Avery Ching, CEO and co-founder of Aptos Labs, called the filing a "big first" for the Move ecosystem.
Read more: Bitwise Expected to Launch New Spot Dogecoin (DOGE) ETF with SEC Filing, Boosting Crypto Market
SUI Surge on Trump-Affiliated DeFi Deal
Source: KuCoin
The native token of Sui (SUI) surged after a strategic reserve deal with Trump-affiliated World Liberty Financial. Furthermore, the deal involves WLFI adding Sui assets to its crypto holdings and exploring product development opportunities. WLFI’s strategic token reserve already includes wrapped bitcoin, ether, TRX, LINK, MOVE, and ONDO tokens. Furthermore, SUI jumped as much as 10% to near $3 and rose about 13% in the past 24 hours.
Zak Folkman, co-founder of WLFI, said, "We chose Sui for its American-born innovation combined with impressive scale and adoption." He explained that the partnership was an obvious decision as WLFI plans to support foundational DeFi assets in the coming months.
Conclusion
US crypto strategies are shifting as political decisions and market innovations drive new regulations and financial products. Furthermore, the executive order to create a Strategic Bitcoin Reserve positions the US as a leader in digital asset management. Moreover, Texas steps forward with its own reserve bill while Bitwise pushes the ETF frontier for Aptos and WLFI boosts SUI through strategic partnerships. Furthermore, these developments indicate growing institutional and governmental commitment to digital assets globally. In summary, these converging trends set the stage for a dynamic future in the crypto landscape as regulators and market participants navigate this evolving terrain.
