Franklin Expands Tokenized ETFs

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• Bybit x Block Scholes: “2026: It's Different This Time?”

Market Snapshot: Overnight Moves

Daily Updates:

• Bitcoin has started the day in the negative so far and is currently trading just below $70K, having exceeded $72K mid-week. 
• Price action across crypto and macro-asset classes continues to be driven by geopolitical developments in the US and Iran — with both sides providing conflicting information on the viability of a ceasefire. 

• The White House continued to claim that the US is in ongoing talks with the Iranian regime to bring an end to the war. On Wednesday night, President Trump told congressional Republicans that Iran “wants to make a deal so badly, but they’re afraid to say it”.  
• Earlier in the day, his press secretary, Karoline Leavitt, told reporters “The United States has been engaged over the last three days in productive conversations.  You’re beginning to see the regime look for an exit ramp.”

• Iran on the other hand said that it had rejected the US’s 15-point peace proposal that was delivered by Pakistan, and continued attacks on Israel and Gulf Arab states.
• According to Al Jazeera, a “high-ranking diplomatic source” described the proposal as “extremely maximalist and unreasonable”, and “not beautiful, even on paper”. 
• State-owned Press TV in Iran also stated that the country’s leaders have a clear stance on what conditions will be necessary for it to accept a ceasefire — guarantees that the US and Israel will not resume attacks, compensation for war-damage in the country and official recognition of Iran’s authority over the Strait of Hormuz.  
• Finally, Iran’s Foreign Minister Abbas Araghchi said yesterday that the US has sent messages through different mediators, but that “does not mean negotiations”. 

• US equity indexes advanced in yesterday’s session with the S&P 500 up 0.54% and the Nasdaq-100 finishing 0.67% higher. Brent crude rallied through Wednesday and the early parts of today and is now once more firmly above $100 per barrel. 
• US treasury yields also rose alongside the move in oil prices — the 10-year yield is up 6bps since yesterday, trading at 4.38%, while the 2-year yield is up 8bps from its intraday low yesterday. 

• The White House has completed its review of a proposed Labor Department rule that could materially expand investment choice within the $10T US 401(k) market.
• If adopted, the rule would update ERISA fiduciary guidance and potentially allow retirement plans to offer access to alternative assets such as crypto and private equity.

• Franklin Templeton is deepening its push into tokenized finance through a new partnership with Ondo Finance that will bring five tokenized ETFs onchain, including equity and gold fund exposure. 
• The move will allow investors to access these products through digital wallets, with 24/7 trading and potential use across DeFi, rather than only through traditional brokerage rails. 

• A U.S. court has permitted a class-action lawsuit against Nvidia and its CEO to proceed, with a hearing set for April 21. The case covers investors between August 10, 2017, and November 15, 2018, who allege the company failed to properly disclose how much of its GPU sales were driven by cryptocurrency mining.
• They claim over $1B in crypto-related revenue was not clearly reported and was instead blended into the gaming segment, giving a misleading impression of gaming demand. 
• On November 15, 2018, Nvidia acknowledged that its gaming revenue fell short of expectations due to excess inventory following a drop in crypto demand. 
• Separately, in 2022, the SEC fined the company $5.5M for not clearly disclosing the extent to which cryptocurrency mining contributed to GPU sales, stating investors should have been informed.

• At a House Financial Services Committee hearing on Wednesday, members weighed the promise of bringing securities onchain against the need to preserve investor protections, while the SEC prepares a potential innovation exemption that could serve as a sandbox for tokenized assets.

• Digital asset treasury company, Bitmine Immersion Technologies (BMNR) has launched MAVAN (Made In America Validator Network), its proprietary staking platform initially built to support its Ethereum treasury. 
• As of March 24, 2026, the company has staked 3,142,643 ETH (worth $6.8B at $2,148 per ETH via Coinbase), with expected annual staking rewards of $300M once fully deployed at a 2.83% 7-day yield.
• Over the past week, Bitmine added 101,776 ETH ($219M) to MAVAN and plans to continue scaling in the coming weeks, positioning the platform to become the largest Ethereum staking network. 
• The company also intends to expand MAVAN to serve institutional clients and grow into other proof-of-stake networks and blockchain infrastructure, including on-chain vaults and post-quantum development through 2026.

This Week’s Calendar:

Charts of the Day:

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