• Bybit and FXStreet have released a joint report forecasting that gold could rise to $4,000 per ounce by the end of 2025.
• The report comes on the heels of gold reaching an all-time high of around $3,500 per ounce.
• The report also points to silver as a compelling diversification opportunity.

Bybit and FXStreet have released a joint report forecasting that gold could rise to $4,000 per ounce by the end of 2025, driven by a combination of macroeconomic pressures, technical momentum, and increasing investor aversion to traditional assets.

The report comes on the heels of gold reaching an all-time high of around $3,500 per ounce last month, marking a 26% gain year-to-date and a 41% jump over the past 12 months.

Over the same period, the S&P 500 has declined 11%, highlighting gold’s renewed strength as a safe-haven asset.

Safe-haven demand intensifies

Investors are reallocating capital into gold in response to persistent inflation, a weakening US dollar, and deteriorating real returns in equity and bond markets.

The metal’s traditional role as a hedge against currency devaluation has resurfaced, with both central banks and private investors seeking shelter from fiat instability.

Adding to this flight to safety are escalating concerns over US trade policy under President Donald Trump, which has reignited fears of a global tariff war.

The report added:

By serving as a neutral reserve asset, gold provides much-needed stability amid shifting trade patterns and geopolitical tensions.

The report notes that capital is being pulled from vulnerable currencies—including the euro, yen, yuan, and peso—into gold, which offers liquidity and political neutrality.

Bullish technical setup

From a technical standpoint, indicators remain supportive of further gains.

The MACD remains in positive territory, with the 12-day moving average above the 26-day, signaling sustained bullish momentum.

Meanwhile, the RSI at 60 reflects ongoing strength without tipping into overbought levels.

Analysts expect gold to consolidate near $3,500, a key resistance level, before targeting $4,000 by year-end, assuming macroeconomic and geopolitical headwinds persist.

Silver: the overlooked hedge

The report also points to silver as a compelling diversification opportunity.

Though trailing gold in performance, silver remains well below its 2011 peak of $50 per ounce and may benefit from both defensive capital flows and rising industrial demand, particularly from green energy and infrastructure sectors.

For investors seeking broader exposure, silver’s asymmetric upside presents an attractive hedge.

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• The proposed ETF would provide direct exposure to SUI’s market price.
• The fund does not include a staking component, in contrast to similar applications from other issuers such as Canary Capital.
• The Sui ETF proposal adds to a wave of more than 70 crypto ETF filings under SEC review.

Asset manager 21Shares has filed an S-1 registration with the Securities and Exchange Commission to launch a spot exchange-traded fund tracking Sui (SUI), while also announcing a strategic collaboration with the blockchain network.

The proposed ETF would provide direct exposure to SUI’s market price, with assets held in custody by Coinbase, according to the filing.

Its daily NAV will be based on a benchmark index tracking spot prices, and like other US-approved crypto ETFs, share creations and redemptions would be processed in cash, not in-kind.

Notably, the fund does not include a staking component, in contrast to similar applications from other issuers such as Canary Capital, which has also filed for a spot Sui ETF with staking.

21Shares also announced on Thursday that it has entered into a “strategic partnership” with the Layer 1 network, aimed at expanding its global reach amid rising interest in the Sui ecosystem. 

SUI ETPs in Europe

Sui-based exchange-traded products (ETPs) have gained significant traction in Europe, with offerings such as the 21Shares Sui Staking ETP and the VanEck Sui ETP already available to investors.

The US filing comes roughly a year after 21Shares launched the 21Shares Sui Staking ETP in Europe in July 2024.

According to the latest data from CoinShares, these Sui-linked investment vehicles had a combined $400 million in assets under management as of April 25.

Investor interest in the Sui ecosystem appears to be accelerating.

Year-to-date, Sui-based ETPs have attracted $72 million in net inflows, including a notable $20.7 million influx in just the past week.

SUI currently holds a market cap of $12.3 billion, ranking it as the 11th largest cryptocurrency globally.

ETF race expands

The Sui ETF proposal adds to a wave of more than 70 crypto ETF filings under SEC review.

Asset managers such as Bitwise, Grayscale, Franklin Templeton, and REX Shares have submitted filings for spot ETFs tied to Solana, XRP, Dogecoin, Cardano, Avalanche, Hedera, Litecoin, and Polkadot.

21Shares, a Switzerland-based manager, is already active in the US market through its spot Bitcoin and Ethereum ETFs, launched in partnership with Ark Invest.

It has recently expanded its ETF ambitions, submitting applications tied to XRP, Solana, Dogecoin, and Polkadot.

According to Bloomberg ETF analysts Eric Balchunas and James Seyffart, the Solana and Litecoin ETF proposals lead with a 90% chance of approval, followed by XRP (85%), and Dogecoin and Hedera (80%).

The growing flurry of filings reflects a more permissive regulatory environment under the Trump administration, with Paul Atkins, a long-time industry ally, now chairing the SEC.

The agency has dropped multiple lawsuits and initiated public dialogue with crypto firms, indicating a departure from the stance of former Chair Gary Gensler.

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• The fund, launched April 30, tracks a diversified group of firms with Bitcoin treasury strategies.
• Notable constituents include Michael Saylor’s Strategy, mining firm Marathon Digital Holdings (MARA), Tesla and Japanese BTC-focused firm Metaplanet.
• The launch comes amid a sharp uptick in institutional Bitcoin buying.

Asset manager Grayscale has introduced a new exchange-traded fund—Grayscale Bitcoin Adopters ETF—designed to give investors exposure to companies actively holding Bitcoin on their balance sheets.

The fund, launched April 30, tracks a diversified group of firms with Bitcoin treasury strategies spanning across seven sectors, including mining, automotive, and energy.

Notable constituents include Michael Saylor’s Strategy, mining firm Marathon Digital Holdings (MARA), Tesla, Japanese BTC-focused firm Metaplanet, and aerospace energy player KULR Technology Group.

Introducing the Grayscale Bitcoin Adopters ETF (ticker: $BCOR) $BCOR provides exposure to corporations that have added #Bitcoin as a treasury reserve asset. These companies sit across several sectors and industries and are all united by a common thread – Bitcoin adoption.

See… pic.twitter.com/O0FX2OR50Q

— Grayscale (@Grayscale) April 30, 2025

The ETF reflects the rising corporate trend of adopting Bitcoin as a strategic reserve asset, aiming to hedge against fiat currency inflation and boost shareholder value.

Accelerating corporate demand for BTC

The launch comes amid a sharp uptick in institutional Bitcoin buying.

Fidelity Digital Assets recently reported that public companies have acquired over 30,000 BTC per month in 2025, significantly outstripping supply from miners.

According to Fidelity, Bitcoin’s circulating exchange supply is falling, driven by continuous corporate accumulation.

Michael Saylor’s Strategy remains the largest corporate Bitcoin holder outside of exchanges, and continues its aggressive purchasing.

Bitcoin could hit fresh highs thanks to corporate accumulation

Bitcoin may be poised to reach new highs as corporate accumulation and renewed ETF inflows tighten supply, according to a client note from research and brokerage firm Bernstein on Monday.

Analysts led by Gautam Chhugani said that short-term comparisons between Bitcoin and assets like gold or the Nasdaq can be misleading, and more meaningful indicators include reduced retail selling, growing corporate treasury demand, and strong ETF inflows.

The note follows the announcement of Twenty One Capital, a new Bitcoin corporate treasury venture launched last week by SoftBank, Tether, Bitfinex, and Cantor Fitzgerald, starting with 42,000 BTC.

The venture is backed by $900 million from SoftBank, $1.5 billion from Tether, and $600 million from Bitfinex, with plans to merge with Cantor Equity Partners via a SPAC and raise another $585 million at closing.

Bernstein likened the strategy to that of Strategy, which raised $22 billion in 2024 and $8.6 billion so far in 2025 to expand its Bitcoin holdings.

The analysts noted that corporate accumulation is becoming more competitive, with around 80 companies now holding a combined 700,000 BTC—roughly 3.4% of the total supply.

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• The crypto exchange urged the Court to reconsider the “third-party doctrine” as it applies to digital financial data.
• While Coinbase is not a direct party to the case, the company has a vested interest in how the Court interprets privacy protections.
• The Supreme Court is expected to decide later this year whether to hear the case.

Coinbase, alongside several states, technology firms, and advocacy groups, is calling on the US Supreme Court to revisit long-standing digital privacy standards that critics say no longer reflect the realities of the internet age.

In an amicus brief filed Wednesday in Harper v. O’Donnell, the crypto exchange urged the Court to reconsider the “third-party doctrine” as it applies to digital financial data.

In 2020, James Harper, a Coinbase user, filed a lawsuit against the IRS, alleging the agency unlawfully obtained information that revealed his identity as a cryptocurrency holder.

Challenge to decades-old legal standard

The third-party doctrine—established through rulings in the 1970s—holds that individuals forfeit their expectation of privacy over data shared with third parties, such as banks or phone companies.

Coinbase argues that this principle, when applied to blockchain and digital assets, grants government agencies sweeping surveillance capabilities without the judicial oversight typically required for such intrusions.

While Coinbase is not a direct party to the case, the company has a vested interest in how the Court interprets privacy protections in the context of financial data stored or processed on its platform.

IRS use of broad summons under scrutiny

The case centers on the Internal Revenue Service’s use of a “John Doe” summons, which allows investigators to compel third parties to disclose data on unnamed individuals.

In 2016, the IRS served such a summons on Coinbase, requesting user data on more than 14,000 customers as part of an effort to identify individuals potentially underreporting crypto gains.

Similar summonses were later issued to Kraken and Circle in 2021.

Unlike traditional summonses, John Doe requests are not tied to specific individuals, but rather seek data on broad swaths of users.

Coinbase contends that this investigative tool, when used in the digital asset space, effectively gives the IRS a “real-time monitor” over user transactions.

Privacy in the Blockchain era

In its brief, Coinbase highlighted the unique characteristics of blockchain technology, which allows observers to trace past and future transactions tied to a wallet address.

This level of visibility, the company argues, amounts to what it calls a “financial ankle monitor.” The brief draws comparisons to Carpenter v. United States (2018), a case in which the Supreme Court ruled that obtaining historical cell phone location data without a warrant violated the Fourth Amendment.

Coinbase contends that the IRS’s ability to reconstruct years of blockchain activity is even more intrusive.

“Exposure of a person’s identity on the blockchain opens a potentially wide window into that person’s financial activity,” the company said, warning of the implications for user privacy and financial freedom.

The Supreme Court is expected to decide later this year whether to hear the case. If accepted, oral arguments would likely be scheduled for the next term.

Coinbase executives, including CEO Brian Armstrong and Chief Legal Officer Paul Grewal, have consistently advocated for updated legal frameworks that reflect the evolving nature of digital finance.

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• The move adds TRON to the list of more than 40 networks supported by P2P.org.
• This opens up new channels for institutional TRX staking on the TRON blockchain.
• TRON’s Super Representatives are a group of 27 elected validators.

P2P.org, a prominent provider of validation and staking services across several blockchain networks, has been named a Super Representative Validator on the TRON network.

The move adds TRON to the list of more than 40 networks supported by P2P.org and opens a channel for institutional staking of TRX tokens.

TRON’s Super Representatives are 27 elected validators responsible for producing blocks every three seconds, validating transactions, participating in governance, and distributing rewards to voters, playing a central role in the network’s delegated proof-of-stake (DPoS) system.

As a new Super Representative, P2P.org is set to contribute to the resilience of TRON’s infrastructure while offering institutional players direct access to staking opportunities on the network.

“Becoming a TRON Super Representative Validator represents a significant advancement in our validator portfolio,” said Alex Esin, CEO at P2P.org.

“This expansion strengthens our position across more than 40 networks and creates valuable new opportunities for our institutional partners to optimize their TRX holdings with industry-leading staking solutions.”

“With its scalability and minimal transaction costs, TRON has become the blockchain of choice for an increasing number of DeFi platforms focused on institutional adoption,” said Sam Elfarra, Community Spokesperson for the TRON DAO.

“As the builders of a thriving ecosystem with hundreds of institutional clients, we are thrilled to welcome P2P.org as a Super Representative.”

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