What’s Moving In Crypto Today? May 2025

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Nasdaq Pushes for First Sui Spot ETF
Nasdaq has officially requested that the SEC approve the 21Shares spot Sui ETF, which would be the first-ever U.S. spot exchange-traded fund (ETF) for the Sui blockchain. The filing marks the start of the SEC’s review period and reflects growing demand to expand beyond just Bitcoin and Ethereum in regulated financial products. If approved, it could signal a significant step forward for newer Layer-1 tokens.

Michael Saylor Reveals Bear Market Playbook
At the recent Bitcoin Vegas conference, Strategy founder Michael Saylor shared how the company plans to manage crypto downturns, just as Bitcoin dipped to $106,000. His plan includes using debt and options to protect Strategy’s position, providing a reminder that preparation matters, even during bull markets.

BlackRock Backs Circle IPO with 10% Buy-In.
Circle, the company behind the USDC stablecoin, confirmed it’s going public on the NYSE and revealed that BlackRock plans to buy 10% of the IPO shares. At the same time, Circle denied rumors it’s in talks to be sold to Ripple or Coinbase, saying it's entirely focused on going public.

Global Crypto Developments

• The U.S. House unveiled the Digital Asset Market Clarity Act, a bipartisan bill that would split oversight between the CFTC and SEC, scheduled for a floor vote on June 10.
  
• Leader Nigel Farage pledged to establish a national Bitcoin reserve as Reform UK became the first British party to accept BTC donations.
  
• Pakistan will set up a national Bitcoin strategic reserve and earmark 2 gigawatts of power for industrial-scale mining.