Apr 14, 2025: Our weekly Institutional Insights explores the latest market developments — market performance, industry news, exchange-traded fund (ETF) flows, trending topics, upcoming events and token unlocks — to help you supercharge your crypto trading.

 explores the latest market developments — market performance, industry news, exchange-traded fund (ETF) flows, trending topics, upcoming events and token unlocks — to help you supercharge your crypto trading.

Weekly highlight — Apple exemptions send crypto higher 

US president Donald Trump’s administration recently exempted smartphones, computers and other electronics from reciprocal tariffs, providing significant relief for major technology manufacturers like Apple and NVIDIA. This move, announced by US Customs and Border Protection, limits the impact of Trump’s 125% tariff on goods from China and baseline 10% global tariff affecting many countries.

The exclusions cover popular electronics, such as smartphones, laptops, hard drives and memory chips, typically not domestically produced. This decision is welcome news for consumers who feared rising prices due to potential tariffs. It also benefits major tech companies that have made substantial investment pledges in the US domestic markets to the Trump administration.

The tariff reprieve marks a noteworthy easing in Trump's trade conflict with China, effective retroactively from April 5. White House Press Secretary Karoline Leavitt emphasized that America must not depend upon China for critical technologies, highlighting the president's efforts to secure substantial investments from leading tech firms to bolster domestic manufacturing. 

However, the reprieve may be temporary. The exclusions stem from an initial order designed to prevent cumulative tariffs on specific sectors. While certain semiconductor manufacturing equipment is excluded, the announcement doesn’t cover the 20% tariff targeting China, aimed at addressing fentanyl shipments.

Analysts note that while this exemption is a win for the tech industry, uncertainty remains regarding future tariffs. The administration is poised to further investigate semiconductor imports, potentially leading to new tariffs in the coming weeks. As negotiations evolve, other countries may seek similar exceptions, complicating the trade landscape. 

Overall, while this announcement offers temporary relief, the future of tariffs remains uncertain as the administration continues its aggressive trade policies.

Weekly crypto highlight — Bitcoin has its role to play amid volatility

The concept of "safe haven" assets, traditionally represented by gold and government bonds, is being challenged in today’s volatile markets. For decades, investors relied on a classic portfolio structure of 60% equities and 40% bonds, with capital flowing into gold and government bonds during market downturns. These assets were seen as stable and reliable, ideal for safeguarding against volatility. However, in a world marked by constant market activity, geopolitical unrest and rising skepticism toward governments, the definition of a safe-haven asset may require reevaluation.

Enter Bitcoin, a highly volatile and often misunderstood asset. Despite skepticism from many investors, Bitcoin has significantly outperformed traditional safe-haven assets since the COVID-19 market lows, rising over 1,000% since March 2020. In contrast, long-duration bonds have dropped by 50%, and gold, while up 90% over five years, appears less impressive when adjusted for monetary inflation.

However, Bitcoin's status as a safe haven remains debated. During various risk-off events, it’s behaved more like a high-beta asset than a protective hedge. For instance, in March 2020, BTC fell 40%, while the Nasdaq-100 dropped 27%. But during the recent tariff-led sell-off in April 2025, Bitcoin held up better than the Nasdaq-100, suggesting emerging strength.

Non-sovereign assets like Bitcoin could thrive amid geopolitical tensions, given their decentralized, censorship-resistant nature. Traditional safe havens like gold and long-duration bonds are losing their luster, with gold’s gains overshadowed by monetary expansion and rising yields on Treasury bonds.

As Bitcoin continues to demonstrate resilience, it may challenge the notion of what constitutes a safe haven. While it may not fit the classic definition of a low-volatility asset, its durability, neutrality and liquidity make it increasingly relevant in today’s financial landscape. Thus, the traditional playbook for safe-haven assets may need an update.

Advanced

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Weekly Institutional Insights: Apple exemptions send crypto higher; Bitcoin’s role to challenge gold

Our weekly crypto derivatives analytics report delves into macro events; the current state of crypto and trading signals from spot trading volume; and futures, options and perpetual contracts.

After initially resisting US president Trump’s “Liberation Day” tariffs, crypto markets joined the global sell-off, with BTC falling from $87K on April 2 to a low of $74K. BTC’s term structure was inverted again before easing, while ETH’s term structure remained inverted. Meanwhile, short-term BTC volatility skews favored OTM puts, reflecting more bearish sentiment than during the Q1 2023 US banking crisis. However, volatility levels decreased after Trump announced a 90-day pause on tariffs (excluding those on China), leading to a significant rally in spot prices.

Please check out the report’s highlights.

BTC open interest declined substantially this week

Bybit’s largest perpetual swap markets initially remained stable during the broader market sell-off and tariff reactions, recovering from the dip after the 

. However, Trump’s recent announcement and subsequent pause of near-unilateral import tariffs significantly impacted these markets, leading to notable declines in open interest for BTC and ETH, which have fallen sharply from their late March highs.

After a brief period of positive funding rates, BTC’s perpetual swap market fluctuated between positive and negative sentiment, indicating traders were hesitant to commit to a strong directional move (similar to trends in options markets). This changed when President Trump announced a 90-day tariff relief, leading to positive jumps in funding rates. Altcoins displayed a similar pattern, with funding rates alternately positive and negative before rising following the tariff announcement.

During the April 6–7, 2025 sell-off, traders sought downside protection, as BTC's spot price fell to $75K in reaction to President Trump’s tariff announcement. The high volume of put options relative to calls indicates strong demand for this protection. Meanwhile, the US's reciprocal tariffs caused a significant inversion in BTC’s at-the-money volatility term structure, which, although it has eased, remains inverted. Additionally, there‘s a stronger skew toward OTM puts at short tenors as compared to the March 2023 US banking crisis. Put open interest has surged over the past week, reflecting extremely bearish sentiment for both the near and long terms.

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Bybit X Block Scholes crypto derivatives analytics report (Apr 9, 2025): Tariffs bring substantial volatility at a level similar to that of the Q1 2023 US banking crisis

In this tutorial, we’ll explore how you can stake and mint Lombard LBTCv on Bybit Web3 Staking with the Bybit Web3 Seed Phrase Wallet. 

In this tutorial, we’ll explore how you can stake BTC to mint 

Please note that in order to get started, you’ll first need to download the Bybit App on the Apple App Store or Google Play Store. 

How to stake and mint LBTCv with Bybit Web3 Staking

: Launch the Bybit App on your mobile device and tap on the 

: Deposit BTC into your preferred Bybit Web3 Seed Phrase Wallet BTC address.

: Once you’ve deposited BTC into your wallet address, tap on the 

drop-down and select the BTC address into which you’ve deposited BTC. 

: Input the exact amount of BTC you’d like to stake, and tap on 

 and sign the message to allow this exact amount of BTC to be staked.

 page. Ensure that the amount of BTC is exactly the same as you wish to stake, and tap on 

: Tap on the icon located at the upper-right corner of the screen to check your transaction history.

: You’ll receive LBTCv in three progressive stages:

: Once you’ve received LBTCv, you can check your points (updated every hour).

If you wish to stake more BTC, simply repeat Steps 7 through 12. However, please

that you won’t be able to stake more BTC as long as you haven’t yet received your LBTCv.

To redeem your LBTC, simply scroll down the 

button. Then, wait three days for the successful redemption of LBTC.

If you wish to cancel your redemption, you can do so within these three days.

Beginner

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How to stake and mint Lombard LBTCv with Bybit Web3 Staking

A Chainlink Spot ETF would bridge TradFi and crypto, offering a simplified way to gain exposure to LINK without the complexities of digital wallets or exchanges.

There's been a recent surge in spot ETF applications as investors look for ways to sidestep the rigid frameworks of traditional finance. The success of 

 — drawing billions in inflows — signals a major shift in the way institutions approach crypto investments. 

 networks, is in line for its own Spot ETF. The proposed fund promises a direct, hassle-free way to invest in Chainlink (LINK), eliminating the need to deal with complex 

 and exchanges. This article explores what a Chainlink Spot ETF is, how it would work, its current market impact and what its potential approval could mean for investors and the broader crypto landscape.

A Chainlink Spot ETF is an exchange-traded fund, backed by Chainlink (LINK) tokens, that would directly track the market price of LINK, a cryptocurrency powering decentralized oracle networks, thus enabling investors to gain exposure without directly holding the asset itself.

 (ETF) would offer investors direct exposure to LINK’s price movements without requiring the investors to handle the digital asset directly. 

Authorized Participants (APs), typically large financial institutions or market makers approved by the ETF issuer, play a central role in maintaining liquidity and aligning the ETF’s market price with its net asset value (NAV). These entities facilitate the creation and redemption of ETF shares by acquiring LINK tokens from exchanges or over-the-counter markets, and transferring them to the ETF’s custodian, a regulated entity responsible for secure storage. 

In exchange, the ETF issuer provides APs with newly created shares, which represent fractional ownership of the underlying assets. The shares are then introduced to secondary markets for investors to trade.

Creation, redemption and listing of shares

When redeeming shares, APs collect ETF shares from the market and return them to the issuer, receiving LINK tokens from the custodian in return. These tokens can be sold on the open market or held, depending upon the AP’s strategy. This creation-redemption process enables an 

 mechanism that stabilizes the ETF’s price, relative to its underlying assets. 

If the ETF is trading at a premium to NAV, APs create and sell shares to capitalize on the price difference, pushing the market price downward. Conversely, if the ETF is trading at a discount, APs redeem shares, reducing supply and driving the price upward. This dynamic ensures that the ETF’s market price remains closely tied to LINK’s actual value. 

Shares are listed on exchanges and traded like traditional stocks, integrating seamlessly into existing portfolios while offering potential tax efficiencies. The structure combines the accessibility of conventional investments with the benefits of cryptocurrency exposure, appealing to those seeking indirect participation in LINK’s market movements through a regulated and familiar framework. For investors, the ETF will simplify exposure to Chainlink by eliminating the need to manage 

 or wallets, or navigate complex crypto exchanges. 

The Hashdex Nasdaq Crypto Index US ETF, which includes Chainlink (LINK), has gained attention as a significant development in the crypto ETF space. This ETF, 

 in February 2025 and currently provides exposure to Bitcoin and Ethereum. 

 with the SEC on Mar 14, 2025 to expand the ETF's scope to include additional cryptocurrencies like LINK, ADA and SOL. This application remains the sole filing for a Spot Link ETF (as of Mar 20, 2025). While the SEC has approved the fund's initial structure, its response to the inclusion of Chainlink and other assets remains pending.

The SEC has historically been cautious about approving spot cryptocurrency ETFs, due to concerns about market manipulation and investor protection. However, the approval of multi-asset ETFs such as NCIQ signals a potential shift in regulatory attitudes. Market sentiment has been cautiously optimistic, with investors viewing these developments as a step toward broader acceptance and integration of cryptocurrencies into traditional financial systems. The timeline for the approval of Chainlink Spot ETFs remains uncertain, but growing institutional interest and regulatory advancements suggest progress in the near future.

Current impact of Chainlink Spot ETF applications on the crypto market

The anticipation surrounding Chainlink Spot ETF applications is clearly influencing market sentiment. Although Chainlink's price hasn’t yet surged dramatically, increased investor interest and speculation about potential ETF approvals have boosted overall optimism. 

Data from LINK and CoinGlass reveals that 

 have fallen to 138.8 million coins, the lowest since September 2024, indicating that investors are holding onto their tokens in self-custody wallets instead of selling. This trend reflects a growing belief that SEC approval for a Spot LINK ETF could substantially boost the token’s price. In addition, Chainlink’s role as one of the largest oracle networks and its innovative cross-chain interoperability protocol for asset tokenization further reinforce this positive outlook.

What will it mean if a Chainlink Spot ETF application is approved?

The approval of a Chainlink Spot ETF would have some significant implications for both the cryptocurrency market and traditional financial sectors, as follows.

If you’re looking to capture the market and trade LINK tokens, Bybit offers the 

A Chainlink Spot ETF would connect cryptocurrency with traditional finance by allowing investors to track LINK’s price without the complications of managing digital wallets. Specifically, it would keep the ETF's price in line with LINK’s market value, increase liquidity and attract institutional investors. Approval of a Chainlink Spot ETF could drive LINK's price higher, similar to trends seen with Bitcoin ETFs, and confirm Chainlink’s importance in the crypto ecosystem, encouraging its use across various industries. 

However, investors need to be cautious of potential short-term price swings and changes in regulations. Overall, this ETF would make crypto investing simpler for a broader audience, strengthening Chainlink’s position and supporting wider acceptance of blockchain technology in the financial world.

Intermediate

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Chainlink Spot ETF: A gateway to decentralized oracle investment

Bybit Learn

Altcoins

VLaunch is a multi-chain launchpad that harnesses the power of leading crypto influencers to support its projects. Learn more about how it works here.

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, the number of new projects in development is continually growing. The plan for most of these crypto projects is to launch on an aggregator, also known as a launchpad, which increases the visibility of crypto projects to the 

 community. This provides the ability to build support and increase interest in their initial DEX offerings (

). It also plays a key role in granting access to upcoming projects. VLaunch is among the newest and most innovative launchpads available today, and it stands out in important ways.

VLaunch offers the full functionality of other launchpads in existence today, while uniquely harnessing the power of social media platforms to optimize the promotion of new projects. In fact, its community members benefit from engagement with scores of key opinion leaders (

Community members can also take advantage of security via the VPAD token, while users have access to forecasted mechanics that project new token prices up to 30 days into the future. Crypto projects benefit from access to many popular blockchains (such as 

), low launch fees, continued promotional activity on social media platforms, and decentralized control.

VLaunch was founded by key opinion leaders, including notable influencer Christopher Jaszczynski, who is also known as 

. These founders had missed out on great opportunities in the past, simply because the projects weren’t well-publicized, and they wanted to increase the visibility of and interest in new crypto projects through the VLaunch launchpad. More than that, they wanted to give smaller investors an opportunity to cash in on potentially enormous profits through IDOs that they may have otherwise never learned about at the development stage. The first project to launch on VLaunch was its own VPAD token. 

Historically, project launches have been subject to many limiting or even negative factors on established launchpads. For example, many launchpads only function within a specific ecosystem, and they may require the project to come up with a substantial amount of initial funding. After launching, crypto projects using other launchpads have often suffered from waning publicity and community interest. Some projects have suffered because launchpads may have manipulated the system to secure their own control over the projects. 

Other challenges that crypto projects have faced have included centralized control, expensive listing fees and minimal participation in IDOs. The founders of VLaunch are among the top crypto thought leaders, and they’ve turned their focus on building a superior launchpad to overcome these challenges.

The VLaunch platform puts new crypto projects in the driver’s seat and promotes their success through the launchpad's functionality. It allows new projects to access multiple leading blockchain networks for their launch. By doing so, VLaunch prevents related limitations that may otherwise thwart the success of a project. VLaunch also functions in other unique ways. It encourages its users to engage with the platform and with new projects by offering rewards. In addition, allocation winners for each IDO are publicized for full transparency.

Two key opinion leaders and thought leaders in the crypto space have specifically designed VLaunch to take advantage of social media platforms for project promotion. In fact, this launchpad is supported by more than 180 crypto industry leaders, which optimizes the exposure of projects that might otherwise fall under the radar. Those who may not have been able to access game-changing projects can benefit from enhanced visibility. Through promotion by these leading crypto influencers on social media platforms, a solid community can be built around new crypto projects. More than that, IDOs may be more successful.

While some launchpads unfairly manipulate distribution in their own favor, VLaunch offers an equitable distribution system. In an IDO, allocation winners are made public for full transparency. In addition, fair distribution enables more users to participate in IDOs. Community members also benefit from forecast mechanics that can project a token’s value over its first thirty days.

The VLaunch platform is designed from the ground up to be a superior launchpad that benefits both new projects, and community members and investors. It stands apart due to several key features that combine to support project launches on all levels. Let’s look at some of the features of VLaunch.

 provides new crypto projects with access to a range of advantageous services that can optimize growth. VPrime projects have significant potential and are in their early stages of development. Their potential may be brought to life by exposure through the platform’s partner network. These projects can also access the platform’s library and gain assistance with tokenomics design, legal workings, marketing campaigns, the creation of a narrative and more. They also receive personalized support from the VLaunch team throughout every step of development and launch.

 platform that enables VPAD token stakers to earn rewards, while also using their staked tokens to participate in IDOs for new projects. VPAD token staking periods vary, and the rewards grow as the staking period lengthens. For example, the staking reward for three months is 30%, and the reward for five years is 650%. By staking VPAD tokens, users gain eligibility for future IDO lotteries. Staking and unstaking can both be done with the simple click of a button on the dashboard. Tokens can be unstaked before the end of the staking period, but the transaction is subject to a fee.

, or E2E, is a rewards program that offers VPower bonuses to users who engage with new crypto projects. Through VPower bonuses, users can enter a lottery for a free round. An E2E round may give the winner between $50,000 to $100,000 in tokens that can be used for public sales. 

VLaunch uses AI tech to determine a user’s rate of engagement and to assign a social rank to the user based on that engagement. This rank then determines the amount of the VPower bonus. Qualifying engagement activities include following social media accounts for individual projects and for VLaunch, engaging with these accounts through Twitter and engaging with projects via Discord or Telegram.

Two popular crypto leaders saw the need to make crypto projects more accessible and visible to potential investors. At the same time, they saw that projects in development needed greater access to support, marketing and community building while minimizing costs. VLaunch was originally decided with optimized functionality in mind as a multi-chain platform and a huge network of influencers. The platform launched on Dec 22, 2021. Today, VLaunch is backed by almost 200 KOLs, and can reach more than 20 million people through its social media accounts.

VPAD is the native token of VLaunch, and is used for staking rewards, community governance and protection against 

. At launch, the VPAD token supply was one billion tokens. The token allocation is as follows:

The current price of VPAD is $0.0346 as of March 16, 2023. Over the short term, cryptocurrencies tend to experience wild fluctuations. 

 project that the VPAD token value will generally increase over the next decade. At the end of 2023, the VPAD’s value may reach $0.053, which may be followed by $0.11 in 2025. The VPAD token value could reach $0.24 by 2027, and triple to hit $0.75 in 2030. When looking at projected prices, however, it’s important to understand that many factors will impact the actual value. Because of this, the future value of any token is speculative. As always, it’s imperative to do your own research.

You can earn VPAD tokens by being active in the community, such as engaging with VLaunch’s social media accounts and the accounts of new crypto projects. You can also earn lucrative staking rewards to increase your supply of VPAD. 

In addition, you can purchase VPAD through Bybit, a leading exchange that supports many trading pairs. Bybit has a fast and easy transaction process, but you must first create a Bybit account if you don’t already have one. Once you’ve created your account and funded it, you can proceed to navigate to the 

When considering whether VPAD is a good investment, it’s important to consider the token’s future value as well as the opportunities that it presents. The VPAD token’s current price is roughly $0.0346 (as of Mar 16, 2023), while projections assert it may reach $0.75 by 2030. Therefore, holding VPAD could be financially beneficial if these price predictions are accurate. In addition, VPAD can be staked. With a five-year staking period, the reward may reach 650%. 

Being active on VLaunch also presents you with great opportunities to get involved with exciting crypto projects as they’re developing. Many IDOs initially see an incredible increase in value, which presents another opportunity to gain financially. Considering all of these factors, investing in VPAD and getting involved with VLaunch could be highly advantageous.

While crypto projects are being developed constantly, building a community around a new project has been an uphill battle in many cases. In addition, investors haven’t always been able to learn about potentially lucrative projects. VLaunch is an increasingly popular launchpad that works to support both investors and project developers, and it’s been making a positive difference in this space for the last several years.

VLaunch (VPAD): An Influencer-Backed Launchpad to Watch

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards