Canary Capital has filed with the SEC to launch a U.S. Tron (TRX) ETF that would include staking benefits, allowing investors to earn extra yield. 

The S&P 500 futures fall 1.5% amid US-China trade concerns and Fed warning; over 100 companies will report earnings this week. Gold hit a record ~$3,375, up 1.43%, on safe-haven demand amid tariff and geopolitical worries. Fed hawkishness may cap gains. CoinDesk Indices, which tracks the broader crypto market, rose 1.80% in the past 24 hours, while Bitcoin and Ether gained 2.70% and 3.41%, respectively. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today's top performer is STX, up 9.4%, following the announcement of Stacks gaining institutional support with major exchange listings and custodian backing.

Stacks (STX), founded in 2013, is a cryptocurrency project that enhances the Bitcoin blockchain by enabling decentralized apps (DApps) and smart contracts without altering Bitcoin's features. It operates as a Bitcoin Layer 2 (L2) blockchain, ensuring security through Bitcoin while allowing developers to build modular applications on top of the network. 

 with its listing on top 15 exchanges, the launch of the Grayscale STX Trust, and support from top-tier custodians like BitGo, Copper, and Figment.

Check out the latest prices, charts, and data of 

Canary Capital has filed with the SEC to launch a U.S. Tron (TRX) ETF that would include staking benefits, allowing investors to earn extra yield. This proposal is part of a broader trend, with Canary also seeking approval for ETFs based on assets like XRP, Solana, and Sui. The fund would aim to provide exposure to Tron’s price, but the SEC has yet to approve staking in crypto ETFs. This move follows the success of Bitcoin and Ethereum ETFs, which have attracted significant institutional interest.

During the week of April 14–18, 2025, U.S. Bitcoin spot ETFs recorded a modest net inflow of $13.7 million, entirely from non-GBTC products, as GBTC saw no activity. Since inception, total net inflows have reached $35.5 billion, with non-GBTC ETFs contributing $58.3 billion and GBTC experiencing $22.8 billion in outflows.

Orochi Network airdrop participants can now 

 their earned $ON tokens on the Monad Testnet to increase their Bonus Level and earn rewards faster. A minimum of 50 ON is required for the first claim, and subsequent claims have no minimum. New users can still join by signing up and starting the Prover. Daily check-ins open at 6 AM UTC and fill up quickly.

Beginner

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Canary Capital files for SEC approval of Tron ETF with staking benefits

There are a total of five ways you can buy USDC on Bybit: via Bybit P2P, Bybit One-Click Buy, Auto-Invest, Bybit Card and Bybit Convert. Learn more here.

 that maintains a 1:1 value with the US dollar through full reserves held in regulated financial institutions. This stability makes USDC an attractive option for traders looking to participate in the crypto market with reduced price volatility.

In this guide, we’ll explore the multiple ways to buy USDC on Bybit, detailing five distinct purchasing methods tailored to different preferences. You'll also discover practical applications for your USDC holdings, from trading opportunities to payment solutions and investment strategies.

Whether you prefer trading directly with other users or making quick purchases with a credit card, there's an option for you. Let's examine each method in detail.

 allows individuals and businesses to buy and sell USDC via peer-to-peer mode without intermediaries. You simply transact with another trader to purchase or sell your crypto with zero fees.

There are two main parties on the P2P platform — makers and takers. Makers place ads for buying or selling cryptocurrency, while takers are the users who place orders through the existing ads created by makers. Neither makers nor takers pay any fees on completed orders.

If you decide to go the P2P route to buy your USDC, you can either place a buy ad as a maker, or select an existing offer as a taker. Placing ads is completely free, although specific trading activity requirements exist. If you're a beginning trader on the platform, and want the easiest way to purchase USDC, selecting an offer from an existing ad as a taker is probably the preferred route.

If you need to trade USDC in large volumes (typically tens or hundreds of thousands of USDC per transaction), you may also choose to consider 

, which offers high order limits — up to $200,000 per order — as well as expedited transaction processing.

 feature to complete your USDC order efficiently. HotSwap combines offers from P2P traders with liquidity options from third parties, potentially delivering more choices and options.

Steps for buying USDC via the standard P2P option

2. How to buy USDC via Bybit One-Click Buy

The One-Click Buy service lets you quickly purchase crypto using several supported payment modes: P2P, bank card payments, third-party payments and your account's fiat balance. You can use a credit or debit card (including the Mastercard-powered 

), bank transfers, Apple Pay, Google Pay and other payment methods.

 is another way to purchase USDC on Bybit. The Auto-Invest option allows you to automatically buy crypto at regular intervals using the popular 

Bybit Card is a Mastercard crypto debit card that allows you to make online payments. The card is available to users in specific regions — EEA and CH, AIFC, Australia, Brazil and Argentina — with more locations to be added in the future. It's accepted by more than 90 million merchants within the Mastercard network. Upon successfully applying for your Bybit Card, you may proceed to 

 while you order and wait for your physical card to arrive. 

It's easy to buy USDC using the Bybit Card, as you enjoy reward features like loyalty points and cashback for USDC transactions. The steps for buying USDC using the Bybit Card are nearly the same as shown above in the One-Click Buy section, the only difference being that you'll need to specify your Bybit Card as the preferred payment method.

 lets you easily swap crypto assets without directly trading through the P2P route or other channels. Using Bybit's order books, the platform matches your order with current suitable orders and executes the requested swap. By leveraging Bybit's vast trading volumes and activity, Bybit Convert enables swift and efficient swaps.

If you have non-USDC crypto funds in your account, you can take advantage of the 

 function to buy the stablecoin as follows:

Steps to for buying USDC via Bybit Convert

USDC is more than just a stablecoin for trading; it offers various applications within and beyond the Bybit ecosystem.

USDC serves as a reliable base currency for trading various cryptocurrencies on Bybit.

Trading with USDC helps mitigate volatility risks between trades, as its value remains stable at approximately $1, allowing traders to preserve capital during market downturns.

USDC has emerged as a popular payment method due to its stability and wide acceptance.

Platforms on which users can make USDC payments include Travala for travel bookings, Newegg for electronics, and various crypto-friendly merchants via payment processors, such as BitPay and Coinbase Commerce.

USDC offers various investment opportunities on Bybit and beyond.

The benefit of investing with USDC is that your principal amount remains stable while generating returns, which is particularly attractive in volatile market conditions.

USDC combines dollar stability with digital efficiency on the Bybit platform. This guide has detailed five ways to purchase USDC, and explored its versatile applications for trading, payments and investing. Armed with this knowledge, you can confidently navigate Bybit's ecosystem and make the most of what USDC has to offer.

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A complete guide on how to buy USDC on Bybit

Apr 21, 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 — Trump wants to fire Powell? 

US president Donald Trump is actively considering firing Federal Reserve Chairman Jerome Powell, following Trump's public criticism of Powell for not moving quickly enough to reduce interest rates. National Economic Council Director Kevin Hassett confirmed that the administration is examining this option, suggesting that Powell's actions have politically favored Democrats. Hassett argued that the Federal Reserve's decision to raise interest rates shortly after Trump took office was intended to undermine the economic impact of the tax cuts implemented during his administration, which were deemed inflationary. He further criticized the Fed for not addressing inflation concerns stemming from federal spending under President Biden, implying a lack of accountability.

During a recent press conference, Trump conveyed his dissatisfaction with Powell, asserting that if he wanted to remove him, it could happen "real fast." While he did not explicitly state his intention to dismiss Powell, his remarks highlighted the growing tensions between the White House and the Federal Reserve regarding monetary policy. Hassett defended Trump's frustrations, advocating for a focus on economic policy rather than interpersonal conflicts. This situation underscores the complex dynamics between the executive branch and the central bank, as Trump navigates economic challenges leading up to the next election.

Weekly crypto highlight — XRP ETF coming

HashKey Capital has officially launched the HashKey XRP Tracker Fund, marking the first investment fund in Asia designed specifically to track the performance of XRP, the digital asset integral to Ripple's global payment ecosystem. This fund is aimed at professional investors and offers a unique opportunity to gain exposure to XRP without the complexities of direct asset management. Investors can subscribe through cash and in-kind options, with the fund providing monthly liquidity.

Ripple, as an early backer of the fund, is looking to enhance its strategic partnership with HashKey Capital, which already manages Hong Kong–listed spot ETFs for Bitcoin and Ethereum. This collaboration not only solidifies Ripple's presence in the Asian market, but also opens avenues for future financial products, such as the potential tokenization of a money market fund on the XRP Ledger. Fiona Murray, Ripple's Managing Director for the Asia-Pacific region, highlighted that this partnership is part of a broader strategy to introduce more regulated cryptocurrency products for institutional investors in the region, aiming to foster a more robust crypto landscape in Asia.

Advanced

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Weekly Institutional Insights: Trump’s desire to fire Powell might induce volatility; XRP ETF coming

Hong Kong's Securities and Futures Commission (SFC) has approved a new Ethereum ETF with staking capabilities, allowing institutional investors to earn staking rewards.

Daily top performer — Pyth Network (PYTH)

The S&P 500 dropped 1.5% to 5,282.70 this week, down 5.9% in April and 10% year-to-date, led by tech losses. Real estate and energy outperformed, while political pressure on Fed Chair Powell and inflation concerns weighed on sentiment. Gold dipped 0.6% to $3,319 after a record high, as Powell’s stagflation warning tempered its rally. Despite the pullback, the uptrend remains intact. The Coindesk Indices, which tracks the broader crypto market, are up by 0.77%, with Bitcoin and Ether rising 0.64% and 0.72%, respectively, over the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today's top performer is PYTH, up 10.1%, following the launch of Pyth Entropy for secure on-chain random number generation by Soneium.

Pyth Network (PYTH),  is a blockchain oracle system that delivers real-time crypto price data to blockchains, enabling smart contracts to react to market changes. Soneium 

 Pyth Entropy, a tool for securely generating random numbers on-chain. Two apps, HandsNFT AI and 2p2e, are already utilizing Pyth Entropy to create unpredictable and engaging experiences.

Hong Kong's Securities and Futures Commission (SFC) has approved a new Ethereum ETF with staking capabilities, allowing institutional investors to earn staking rewards. This approval follows recent changes to local laws, with China Asset Management (ChinaAMC) partnering with OSL Digital Securities to launch the ETF by May 15. The ETF will offer exposure to Ethereum staking, transforming it from a passive investment into an active participant in the Ethereum network. The staking process is powered by Kiln, with OSL providing custody and insurance services. The rewards will contribute to the ETF's net asset value, benefiting shareholders.

Yesterday, Bitcoin spot ETFs saw $25.9M in inflows, all from non-GBTC funds, while GBTC recorded no flow.

" and a points campaign called Drops, where users can earn points—potentially leading to an airdrop—by engaging with Linera content on X. To join, sign up on 

, complete tasks like joining Discord and interacting on X, then enter the campaign. Keep engaging to earn more points, but avoid spamming.

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Hong Kong approves Ethereum ETF with staking rewards, boosting institutional participation

Bybit Guide

Bybit UTA

Trading

Bybit UTA is excellent in streamlining the users' trading experience across asset types within a single account. Here are the tips for managing your risk exposure effectively.  

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As a crypto trader, you've probably become accustomed to juggling multiple assets across different accounts, even within the same exchange. Multiple accounts require regular asset transfers between them and keeping track of margin collateral and overall portfolio performance separately. This setup doesn't allow margining to net out, resulting in less efficient risk management.

Even though multiple trading accounts may be the industry standard, Bybit now offers the Unified Trading Account (UTA), a game-changer for traders looking to streamline portfolio management. With the innovative UTA, you can easily trade and manage multiple assets across the crypto ecosystem from a single portfolio without the typical complexities and risks associated with regular trading accounts.

In this article, you'll learn how to use Bybit’s Unified Trading Account for a simplified experience, effective risk management and optimal trading execution.

 (UTA) is a versatile all-in-one account mode that offers access to multi-currency trading and core trading products with just one click, including Spot, Derivatives, USDC and USDT Perpetual, 

It provides traders with a powerful option to combine trading and cross-collateral margining under a single account. You can access up to five trading products, risk management and portfolio management without switching between accounts.

The UTA is an upgrade optimized for a seamless trading experience for all traders, from retail spot traders to institutional traders who prefer consolidated accounts. The account's functionalities are simple to use, making it suitable for traders of all levels. Additionally, as long as you have supported collateral assets in the UTA and your USD value is sufficient, you can open positions even if you don't have a balance in that particular coin.

Overall, the UTA boasts an innovative product feature that simplifies trading, risk management and account finances, providing traders with a seamless trading experience and enhancing their trading strategies. 

Benefits of Using UTA for Risk Management

Bybit UTA is designed to enhance risk management capabilities for traders. The following are some key benefits of using the UTA for risk management.

Better View of the Consolidated Portfolio 

Bybit UTA provides a consolidated view of all positions across multiple trading pairs and products. Traders can view their holdings in various cryptocurrencies, such as BTC, ETH and USDT, and also view their exposure to different trading pairs, such as BTC/USD and ETH/USDT. With a better view of their consolidated portfolio, traders can quickly identify potential risks and take appropriate actions to manage their positions.

The consolidated portfolio view feeds traders important information, such as their total account balance, margin requirements and unrealized P&L across all their positions. Traders can also view their position details, such as entry price, size and liquidation price, as well as set stop-loss and take-profit orders. For example, a trader who has significant exposure to a particular cryptocurrency may consider reducing their position size or setting stop-loss orders to limit their downside risk.

Effective Deployment of Risk Management Tools

Bybit UTA offers a range of risk management tools, such as stop-loss and take-profit orders, auto-borrowing and cross-asset collateralization, and customizable leverage settings. These tools allow traders to mitigate potential losses and protect their profits, while also optimizing their trading strategies based on their risk tolerance and objectives.

The margin calculation is performed at the account level instead of the individual position level, creating a more robust risk management framework. This is because any unrealized trading profits and losses can balance out, preventing risk from being amplified. A loss on one single position doesn’t have to trigger a liquidation. Rather, margin requirements factor in the overall risk of the unified trading account. Additionally, the Bybit UTA implements risk management strategies across a diversified portfolio, which can further enhance a trader's risk profile.

Bybit UTA supports the trading of various cryptocurrencies, including Bitcoin, Ethereum and other altcoins, as well as perpetual contracts and other derivatives. The comprehensive range of investment products allows traders to diversify their portfolios and manage risks more effectively by allocating funds across multiple assets and products.

How to Use UTA to Improve Margin Efficiency

Since Bybit UTA is a multi-asset account that allows users to manage multiple crypto assets across the crypto ecosystem in one portfolio, it can help traders improve their margin efficiency, which in turn can help maximize returns while minimizing the risk of losses.

Supported Products: Spot Trading, Margin Trading, 

USDT Perpetual, USDC Perpetual, USDC Futures and USDC Options

An important feature of Bybit UTA is its Portfolio Margin functionality, designed for professional derivatives traders. Unlike traditional margin accounts that calculate margin requirements for each position separately, Portfolio Marginestimates margin requirements for the entire account, allowing high–net-worth customers to manage their risks more proactively. This means the ability to use margin across multiple positions, potentiallyoptimizing returns. 

The total USD value of the UTA is based on the following calculation: 

Total Asset Value (in USD) = Number of Assets × USD Index Price × Conversion Ratio

The UTA uses the total asset value and takes into account the overall risk of the entire account, which results in a more accurate and efficient allocation of margin. It also lets you utilize both the simple account and multi-currency margin modes, providing additional options for managing margin requirements.

Supported Products: Spot Trading, Margin Trading,

USDT Perpetual, USDC Perpetual, USDC Futures and USDC Options

Position Modes: One-way Mode and Hedge Mode (only for USDT Perpetual)

 (the default mode) also allows margin balances to be shared across multiple positions, with over 70 crypto assets as collateral. By opening positions across different trading products, you can increase leverage from hedging and enhance capital efficiency. Should you lose a position, you’ll also reduce the likelihood of a margin call and forced liquidation. 

Cross Margin is an ideal risk management tool for long-term trading strategies in the volatile crypto market. Both spot and derivatives traders can use Cross Margin mode.

Supported Products: Spot Trading, USDT Perpetual, USDC Perpetual and USDC Futures

Spot and derivatives traders also have access to Isolated Margin mode. Although Isolated Margin is only assigned to a single position or an independent trading pair, the benefit is that if you experience a margin call or forced liquidation in the position it won’t affect your other positions. You can even set a different level of leverage, depending on whether you hold a long or short position. 

Hence, Isolated Margin is helpful for more conservative traders looking for flexibility in a single position while limiting their losses. Please note that Isolated Margin mode does not support spot margin trading.

Bybit UTA allows traders to improve margin efficiency by optimizing borrowing and repayment functionality using the Portfolio Margin Mode. If the equity of any assets drops below zero because of trades and/or market fluctuations, the system will auto-borrow assets, which may be subject to interest. Manual borrowing is not available.

The following conditions may trigger auto-borrowing:

1. Your wallet balance is reduced by transactions

2. Perpetual contracts record unrealized losses

3. Decrease in value of USDC Options positions

4. When the Spot Margin trading function is enabled, assets are borrowed during margin trading

Another benefit of the UTA is that it offers a broader selection of collateral and borrowable assets, such as USDT, USDC, BTC and ETH. This allows users to access more than 60 assets as collateral, thus benefiting from more flexibility in managing their margin requirements.

Understanding the Liquidation Process With UTA

The liquidation process with Bybit UTA is triggered when the account's maintenance margin rates reach 100%. To understand how the liquidation process works, it’s important to understand the concepts of initial margin rate and maintenance margin rate. 

The initial margin is the amount of collateral required to open a position, while the maintenance margin is the minimum amount of collateral required to keep a position open. The account's initial margin rate and maintenance margin rate are calculated based on the position's initial margin and maintenance margin, respectively.

If the account's initial margin rate reaches 100%, all active orders requiring additional margin will be canceled. This means that the account will only be able to open new positions or increase the size of existing positions once asset value is increased.

If the maintenance margin rate is above 80%, all orders for spot margin that occupy costs will be canceled, and assets will be sold to settle liabilities.

Suppose a user account's maintenance margin rate reaches 100%. In that case, liquidation is triggered, which means the system will automatically sell off some or all of the position to cover the losses and bring the margin back to a safe level. The system first reduces the risk limit of all perpetual trading positions, and then closes positions according to the liquidity order of the trading pairs.

As long as the maintenance margin reduces to below 100%, liquidation can end. It’s important to note that the liquidation price may differ from the bankruptcy price, which is the price at which an entire position is completely liquidated.

If the maintenance margin rate suddenly exceeds the threshold, the liquidation system will take over the USDC Perpetual and USDC Option positions in the account.

Using Bybit's Unified Trading Account (UTA) can be an effective way to manage your risks when trading cryptocurrency. By having access to a variety of risk management tools, such as cross-collateralization and net portfolio margining, you can better protect your capital and potentially increase your profits. 

It's important to take the time to learn how to use these tools effectively and to develop a solid trading plan that takes your risk tolerance and investment goals into account. With the right approach and tools, you can seamlessly and confidently trade multiple crypto assets.

How to Use the Bybit Unified Trading Account for Effective Risk Management

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