Crypto Currents: Institutions expand digital asset holdings amid market reset

The digital asset landscape is witnessing a paradox today as traditional financial heavyweights and dedicated infrastructure companies double down on their operations, even as broader market sentiment remains pressured. From expanding derivatives access and massive treasury accumulations to strategic mining pivots, institutional players are building for the future regardless of current price action. Stay up on the crypto news that matters with “Crypto Currents,” daily from The Fly. Join us at 2 PM ET for your essential briefing on the fast-moving world of cryptocurrency on FlyCast radio.

CME GROUP EXPANDS REGULATED DERIVATIVES ACCESS TO WEEKENDS: (CME) announced that its regulated cryptocurrency futures and options will be available for trading 24 hours a day, seven days a week beginning late May, pending regulatory review. The exchange noted that client demand for risk management in the digital asset market is at an all-time high, driving a record $3T in notional volume across its cryptocurrency futures and options in 2025.

BANKING GIANTS AND EXECUTIVES DISCLOSE DIGITAL ASSET POSITIONS: According to trump-family-crypto-bash-convenes-wall-street-s-new-believers" data-hveid="0" decode-data-ved="1" data-ved="0CAAQ_4QMahgKEwi0rKiO7OWSAxUAAAAAHQAAAAAQoAE" style="">Bloomberg, Goldman Sachs (GS) CEO David Solomon disclosed that he personally owns a limited amount of bitcoin (BTC-USD), a notable shift from his previous skepticism. Simultaneously, Bank of America (BAC) reported in a 13F filing that it increased its stake in Bitmine Immersion Technologies (BMNR) by over 1,600%, now holding $85.8M worth of the ether (ETH-USD) treasury company’s shares. The Royal Bank of Canada (RY) also increased its stake in the firm by 121%.

INFRASTRUCTURE FIRMS PIVOT STRATEGIES AND EXECUTE STOCK SPLITS: In a press release, Bitcoin Depot (BTM) announced a 1-for-7 reverse stock split of its common stock to maintain its listing requirements. Meanwhile, according to Cointelegraph, Coinbase (COIN) is transitioning its Layer-2 network away from external reliance to a self-operated technology stack. On the mining front, JPMorgan analysts note that Bitdeer Technologies Group (BTDR) has overtaken MARA Holdings (MARA) in self-mining hash rate.

PRICE ACTION: As of time of writing, bitcoin was trading at $66,243.54, while ether was trading at $1,921.78, according to price data from TipRanks.