Jupiter has welcomed the DRiP team, known for their expertise in growing Solana's leading NFT platform, DRiP.

The S&P 500 futures fell 3% as Trump’s tariffs sparked trade war fears, hitting tech and retail stocks. Gold stays above $3,130, up 23% since November, as tariffs fuel safe-haven demand despite rising US yields. The Coindesk Indices, which tracks the broader crypto market, are down by 1.88%, with Bitcoin up 2.34% and Ether down 1.86% in the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today's top performer is EOS, up 4.1%, as Vaulta bridges CeFi and DeFi for secure wealth management, payments, and investments.

Vaulta (EOS), launched in June 2018, formerly EOS Network, is a decentralized blockchain network for building and running commercial-scale dApps, offering security, authentication, data hosting, and app communication—similar to Google Play or the App Store. Vaulta 

 CeFi and DeFi for wealth management, crypto payments, and portfolio investments, offering secure, real-time transactions and fractional RWA ownership, while ensuring digital asset security through crypto-native insurance and custody solutions.

Check out the latest prices, charts, and data of 

, known for their expertise in growing Solana's leading NFT platform, DRiP. As part of their vision to build a comprehensive crypto superapp, Jupiter aims to integrate NFTs into its Swaps, Mobile, and Portfolio features. This partnership will leverage DRiP’s strengths in NFT marketing, token launches, and creator-driven growth. The collaboration is funded by Jupiter's treasury without selling JUP tokens, and DRiP will continue to operate with added resources, contributing to community-driven growth.

Yesterday, Bitcoin spot ETFs saw $334M in total inflows, all from non-GBTC funds, while GBTC recorded no flows.

, reaching nearly $33M TVL in 21 hours. Users can deposit in featured vaults to earn rewards like TURTLE and TAC. More partner vaults launch on April 12. TAC is a Layer 1 blockchain bridging Ethereum dApps to Telegram's 950M users.

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Jupiter partners with DRiP to integrate NFTs into crypto superapp

The PENGU Spot ETF is the first NFT-based crypto ETF application, as Canary Capital aims to merge NFTs and DeFi—will the SEC approve this groundbreaking move

January 2024 marked a pivotal point in the crypto industry: the US Securities and Exchange Commission (SEC) approved a bunch of 

 (ETFs) after a decade of resisting it. Later that year, several Ethereum (ETH) Spot ETFs were also approved. These early successes encouraged investment funds focused on digital assets to seek approvals for other 

 (AVAX) and other high-cap cryptos have ended up on the SEC's desk in recent months.

Until Mar 20, 2025, one thing had never occurred: an 

-based crypto ETF application. Such a move was thought to border on impossibility, given how stringently and at length the SEC evaluated ETF applications even for established fungible cryptos. And yet, the Canary Capital investment manager submitted an application to the SEC for approval of the first NFT-focused crypto ETF product, the PENGU Spot ETF, triggering a mini-revolution in the emerging space at the junction of crypto and traditional finance.

If approved, this ETF will be the first of its kind in the industry, based on a mix of 

. Many observers expect Canary Capital to struggle mightily for SEC endorsement of its revolutionary product. Nevertheless, the SEC now has a track record of approving crypto ETFs — which raises hopes for both the altcoin ETFs mentioned above and the PENGU Spot ETF application.

The PENGU Spot ETF is a proposed exchange-traded fund (ETF) product introduced by the Canary Capital investment management firm, and is currently awaiting approval by the SEC. 

 on Mar 20, 2025, making this the first crypto ETF product with an NFT component that’s vying for the approval of America's primary financial regulator. The ETF has been registered in the US state of Delaware.

The Pengu Spot ETF's portfolio is envisioned as consisting primarily of PENGU tokens that will make up anywhere between 80% and 95% of total assets held, with the rest allocated to Pudgy Penguins NFTs. Small portions of Solana's SOL coins and Ethereum's ETH tokens will also be included in order to facilitate transactions and liquidity support, as PENGU tokens are mainly issued on the Solana blockchain, and Pudgy Penguins NFTs are an Ethereum-based collection. 

Since Canary Capital will hold these assets and periodically rebalance the portfolio, gas fee payments on Solana and Ethereum will apply, with fees paid in SOL and ETH, respectively.

Launched in 2021 on Solana, the Pudgy Penguins NFT collection consists of 8,888 items, each depicting a cute penguin with a distinct combination of five different traits. In December 2024, the project introduced a related fungible cryptocurrency, the Ethereum-based PENGU token. As of Apr 2, 2025, PENGU is a smaller-cap asset, ranked 191st in the crypto market, with a total 

 of $319 million. In contrast, Pudgy Penguins are among the leading projects in the NFT space, ranked second among all NFT collections, with a market cap of $155 million.

Canary Capital's application to the SEC is unique in two ways: it’s the first ETF with an NFT component, and it marks the first time ETF approval has been sought for a relatively smaller-cap cryptocurrency, PENGU, which isn’t even among the top 100 crypto assets by market cap. All of the other crypto ETF applications approved by the SEC (or currently vying for approval) are based on high-cap, leading assets that are typically ranked within the top 30.

As of Apr 2, 2025, the SEC has had the application for the PENGU Spot ETF application for just two weeks. The regulator has up to 240 days to review such applications, although historically, the SEC has pondered over crypto ETF applications for years. Now, however, the string of Bitcoin and Ethereum Spot ETF approvals in 2024 raises hopes that newer submissions may be subject to an already established evaluation framework — and thus greenlighted much faster.

At the moment, the SEC is also considering spot ETF applications for several high-cap cryptocurrencies, including Dogecoin, Solana, Polkadot, 

 (XRP). If the regulator decides to approve the applications in batch mode — all or several at once — Canary Capital will have reason to hope that its ETF is included.

However, there's been skepticism regarding the PENGU Spot ETF application, with some analysts believing that its chances might differ from those of the larger, more established altcoin ETFs. This isn't surprising, as a PENGU Spot ETF would be a distinct product, being the first NFT-focused ETF. In addition, NFTs have more limited liquidity than fungible cryptocurrencies. 

NFTs may also be harder to valuate objectively. The prices of fungible cryptos are easily sourced from the crypto market, where supply and demand establish their value. In contrast, the limited liquidity and uniqueness of NFTs makes it much harder to price them efficiently.

Moreover, the PENGU token — which will make up most of the proposed ETF — isn't among the most traded assets in the crypto market. Because PENGU has a modest position in the crypto space (along with its origins as a 

), the SEC could view it with more skepticism than it does the leading altcoins.

Naturally, all these factors are just speculation at this point, and we’ll need to wait on the SEC’s initial comments regarding the first NFT-based ETF under their consideration in order to form a more defined view of the product's prospects for approval.

Current impact of the PENGU Spot ETF application on the crypto market

The news of the PENGU Spot ETF application has so far had no appreciable impact on the price of the PENGU token itself. On the day of the application (Mar 20, 2025), the token was trading at around $0.007. Two weeks later, it's still hovering around the same price. 

On the other hand, there's been a modest increase in the average price of Pudgy Penguins NFTs traded on the market: between March 20 and 28, the average price rose by 16% from around $16,450 to $19,120, though it has since retraced slightly to $17,490 as of Apr 2.

Given the modest price effect, investors are likely still cautious about the chances for the PENGU Spot ETF's approval.

However, if it is approved, the broader impact on the crypto market could be far-reaching, as such a step would signify the SEC's openness to both NFT-based ETFs, and ETFs made up of smaller-cap cryptocurrencies, including meme coins. The number of tokenized asset funds that offer NFT-based products would then be likely to increase significantly, facilitating mainstream NFT adoption within traditional financial markets.

An SEC approval of the PENGU Spot ETF may lead to a flurry of further ETF applications based on NFTs in some form. This could even include the first ETFs composed entirely of NFTs. Other crypto asset types — e.g., 

 (RWAs) — may also become candidates for the SEC’s consideration. Furthermore, in the unlikely event that Canary Capital’s PENGU Spot ETF were to be approved ahead of the altcoin spot ETFs currently in the SEC’s pipeline, it would send a very strong signal that those ETF applications are also a sure bet.

The current PENGU Spot ETF application is a pioneering event that may open up opportunities for NFT ETFs and other crypto ETFs based on partial NFT holdings. Although the SEC approved multiple Bitcoin Spot ETFs in early 2024, few people expected an NFT-based ETF to emerge so soon afterward. Probably even fewer expected a meme coin–based ETF to be taken seriously by the SEC. Unique in so many ways, the PENGU ETF flips the entire concept of traditional ETFs on its head.

Canary Capital's attempt to get approval for an NFT-backed ETF is truly a bold undertaking, though observers said the same thing about 

 just a few years ago. Someone needed to become a trailblazer in this area — and Canary Capital has taken up the noble role without hesitation. Now, all eyes are on the SEC as it prepares to weigh in on a product it has never before encountered.

Intermediate

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PENGU Spot ETF: A bold move for NFT investing — or just hype?

In this article, we break down what to expect from Liberation Day and how it could shape the outlook for equities, the US economy and crypto markets.

 April 2, 2025 as "Liberation Day" — a moment he claims will restore America's trade fairness through sweeping reciprocal tariffs. With few concrete details confirmed, global markets remain on edge. Investors are bracing for the economic fallout of a potential trade war, and crypto traders are watching closely to assess the impact on digital assets. In this article, we break down what to expect from “Liberation Day” and how it could shape the outlook for equities, the US economy and crypto markets.

Since returning to the White House in January 2025, President Trump has prioritized reshaping US trade policy with a renewed focus on tariffs. His administration has already announced 

 on all steel and aluminum imports. Many of these actions take effect this week, coinciding with his so-called Liberation Day.

Trump argues that tariffs are a necessary tool to reduce the US trade deficit and force foreign nations to stop what he calls "economic warfare" against the American worker. Treasury secretary Scott Bessent 

 countries with persistent trade surpluses — dubbed the 

 — as primary targets for reciprocal tariffs. These include China, the EU, Canada and Mexico.

However, critics point to the growing risk of a global trade war, with multiple partners already threatening or initiating retaliatory measures. Goldman Sachs recently 

, citing declining business confidence and mounting economic uncertainty. The tariffs, designed to protect US industries, could instead raise prices and weigh on consumer spending.

What to expect from Trump's ‘Liberation Day’ announcement

Trump is expected to reveal his tariff plans in a Rose Garden press conference on April 2. White House press secretary Karoline Leavitt 

 that the president would impose tariffs on "any country that has treated the American people unfairly" — though no nation-specific exemptions have been confirmed. Trump has promised these reciprocal tariffs will be 

While final details remain under wraps, proposals have included both country-wide and sector-specific tariffs. These could range from uniform, percentage-based levies to targeted charges on industries like pharmaceuticals, semiconductors and autos. Trump's advisers, including Trump trade adviser Peter Navarro and commerce secretary Howard Lutnick, claim the new tariffs could generate over $600 billion annually — though many economists dispute this figure.

Delayed tariffs on Canadian and Mexican imports, 

 in early March, are also set to take effect this week. These include taxes on agricultural products, energy goods and automotive components. Trump has also 

 a 25% tariff on imports from countries that purchase oil or gas from Venezuela.

Given the administration's conflicting signals in recent weeks, there's a wide range of potential outcomes. Whether “Liberation Day” ushers in immediate enforcement, additional delays or future negotiation rounds remains to be seen. For now, uncertainty reigns.

Potential impact on the US economy and global markets

Economists warn that broad-based tariffs could lead to slower US growth, higher consumer prices and widening inequality. Goldman Sachs now 

 Trump's trade policies to reduce annual GDP growth to 1.5% from 2%, while the odds of a recession are being raised from 20% to 35%.

Global equity markets have already shown signs of stress. European and Asian indices dipped ahead of “Liberation Day,” while the S&P 500 and Nasdaq-100 

 in March (respectively). Auto manufacturers, tech firms and retailers could be especially vulnerable if tariffs disrupt global supply chains.

There's also the question of the Federal Reserve's response. With inflation risks rising, policymakers may hold off on anticipated rate cuts, further complicating the economic outlook heading into Q2.

How will ‘Liberation Day’ affect the crypto industry?

Crypto markets have mirrored broader risk sentiment over the past quarter, with investors reducing exposure amid macroeconomic turbulence. As of April 1, the 

 is down 16.9% year-to-date. Bitcoin has fallen 10.48%, Ethereum 44.2% and Solana 33% — despite reaching new highs in January on hopes for pro-crypto policies from the Trump administration.

Investor optimism has since cooled as recession risks, inflation concerns and policy unpredictability drive a risk-off mood. Bitcoin dipped to $81,656 over the weekend, marking its weakest Q1 since 2018. Traders remain cautious ahead of “Liberation Day,” awaiting clarity before opening new positions.

“Liberation Day” could further weigh on crypto prices if market volatility increases and capital rotates out of risk assets. However, some analysts believe any resulting sell-off may offer an opportunity to 

 — especially if Trump follows through on crypto-friendly regulation later this year. For now, though, many eyes are on April 2.

With details still unknown, the crypto market remains in a "wait-and-see" phase. “Liberation Day” could mark a turning point — for better or worse — depending upon the scope and execution of Trump's tariff agenda.

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Trump's 'Liberation Day': What it means for crypto markets

Grayscale has filed to convert its private Digital Large Cap Fund, which includes Bitcoin, Ethereum, XRP, Solana, and Cardano, into a publicly available exchange-traded fund (ETF). 

Daily top performer — Compound Finance (COMP)

The S&P 500 rose 0.38% as investors awaited new tariffs amid weak factory data and declining job openings. Gold eased to $3,113 after hitting a record high, driven by profit-taking ahead of Trump's tariff announcement, but remains strong due to safe-haven demand and economic uncertainties. The Coindesk Indices, which tracks the broader crypto market, are up by 1.30%, with Bitcoin and Ether are up 3.10% and 5.19%, respectively, in the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today's top performer is COMP, up 14.3%, following the proposal for the creation of a foundation to ensure consistent leadership and coordination by Compound.

Compound Finance (COMP), launched in September 2018, is a DeFi lending platform that allows users to earn interest on crypto assets. Built on smart contracts, it adjusts interest rates based on supply and demand, connecting lenders and borrowers without intermediaries. In June 2020, Compound decentralized with the launch of COMP and full governance transfer. However, it lacks a core operational pillar. With Compound v4 development and increased community engagement, the need for consistent leadership has grown. To address this, Compound Labs 

 creating a Compound Foundation for structure, clarity, and coordination, similar to other ecosystems like Uniswap.

 to convert its private Digital Large Cap Fund, which includes Bitcoin, Ethereum, XRP, Solana, and Cardano, into a publicly available exchange-traded fund (ETF). The fund, which currently holds 79.4% Bitcoin and 10.69% Ethereum, has grown by 478.83% since its launch in 2018. The conversion would allow everyday investors to access the crypto market, covering about 75% of the digital asset market cap. If successful, it would eliminate the current barrier that restricts access to accredited investors. The filing is still in progress, with management fees and other details pending.

Yesterday, BTC spot ETF had a total outflow of $157.8 million, with GBTC seeing a loss of $10.1 million and non-GBTC products losing $147.7 million.

 that its airdrop might be approaching, with a claim page now live. Registration for the airdrop runs from April 2 to April 17, and claims are expected to open on April 22. However, nothing has been officially confirmed yet. Stay tuned for updates.

Grayscale files to convert digital large cap fund into publicly accessible crypto ETF

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Get priority access to Tomorrowland Brasil 2025 presale tickets with Bybit Card! Follow our step-by-step guide and enjoy 10% cashback on your purchase.

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Ready to celebrate LIFE with Tomorrowland Brasil? Tomorrowland Brasil 2025 presents you with a mystical world of magical plants and flowers in the beautiful festival area of Parque Maeda in Itu, a municipality of São Paulo. If you're ready to party in a lush, otherworldly environment, then make sure to follow the following simple step-by-step guide to buy Tomorrowland Brasil presale tickets using the 

 is a mega festival for electronic music lovers to groove to their favorite beats across six stages set in an ethereal realm of lush magical nature. It will run for three days, from Oct 10–12, 2025 at Parque Maeda in the city of Itu, São Paulo in Brazil. 

The gathering offers five ticket types: Day Pass, Full Madness Pass, Comfort area, Exclusive N°1 area and a DreamVille package. If you're traveling from overseas, you can also buy an all-inclusive Global Journey Travel Package. You'll enjoy more convenience with this package, as it includes the Festival Pass, hotel or DreamVille accommodation, access to The Gathering (an exclusive pre-party) and daily transfers between your boarding location, your accommodation and the festival itself.

Bybit is Tomorrowland Brasil's sole official presale partner, offering Bybit Cardholders the exclusive chance to buy festival presale tickets. To purchase tickets at the presale, you must pre-register for Tomorrowland Brasil at 

. Registration runs from Mar 22 to Apr 3, 2025, and the presale will be held between Apr 4, 2025, 10:00 BRT/15:00 CEST–Apr 6, 2025, 10:00 BRT/15:00 CEST. 

Brazilian citizens can enjoy the ticket purchase at half price. If you're not a Brazilian citizen, you can still receive a 40% discount on your ticket by selecting the Social Ticket category. This option automatically includes a 30 BRL ($R30.00) donation to an institution chosen by the Tomorrowland Foundation.

How to buy Tomorrowland Brasil presale tickets with Bybit Card

To participate in the Tomorrowland Brasil presale, you’ll need to own a Bybit Card. If you still don't have a Bybit Card, you must first apply for one. The Bybit Card comes in two versions: Physical and Virtual. The Bybit Virtual Card is free, and can be used to 

 immediately after you’ve successfully applied and been approved. If you're a new Bybit Cardholder purchasing a presale ticket with a Bybit Card, you can also 

 that you must register before the presale date.

: Go to your Tomorrowland Account and click on the 

 button. Before the ticket sale, check the different ticket types to ensure you select the correct ticket and date. (

: It’s recommended that you purchase your ticket

 from a desktop device. If you choose to purchase via a mobile device, make sure your screen doesn’t get locked, as the website may automatically reload and you’ll have to reenter the queue.)

Enter the first 8 digits of your Bybit Card.

 Select the number of tickets (which will come as a Bracelet) to buy. You can purchase up to six tickets per Tomorrowland Account. 

 Upon selecting your desired purchase, you’ll be redirected to the 

onfirm that you’ve read, understood and accepted the terms and conditions of the event before proceeding to 

 You’ll be prompted to authenticate your device via email or mobile number. Enter the 4-digit PIN code sent to your email or mobile number, and click on 

 Verify your personal details, and click on 

Select how you want to receive your Bracelet, either via delivery or pickup, then click on 

. If you’ve chosen the delivery option, you’ll receive the Bracelet in a Treasure Case. You can then activate it and top it up with Pearls. If you’ve chosen to pick up your Bracelet, you can collect it at the Bracelet Pickup Desk on the day of the event. 

 that the pickup option excludes the Treasure Case.

: Pay for your ticket using your Bybit Card: enter your card details and click on

 After successfully making payment, you’ll receive a confirmation email with all the details of your purchase and a link to personalize your ticket. You won't receive your e-ticket yet, but the email will contain a voucher with your order number and the delivery address you confirmed at the time of checkout. Make sure to keep this email until the end of the festival, as the voucher serves as a receipt of your purchase. You can also click on 

to confirm the details of your ticket purchase.

Personalize your ticket/Bracelet by filling in your personal data. Note that the name you indicate has to match the name on your identification document; if not, you may be denied access to the festival. If you’ve purchased the ticket for a friend(s), you’ll need to fill in the data of the respective participant(s). 

Not only does having a Bybit Card give you the opportunity to purchase Tomorrowland Brasil presale tickets, but you can even enjoy 10% cashback with your purchase if you’re a new Bybit Cardholder. If you still don’t own a Bybit Card — what are you waiting for? 

 now and purchase your Tomorrowland Brasil presale tickets to enjoy the best electronic festival experience of your life — and more!

A step-by-step guide to buying Tomorrowland Brasil presale tickets 2025

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards