In April 2025, Bitcoin recovered by 16% while Ethereum’s RWA tokenization increased by 20%, despite impacts from US tariffs. Canada’s elections brought a Liberal minority government, complicating crypto policies. States like Texas and Georgia introduced new cryptocurrency legislation, while stablecoin market cap rose by $4 billion as regulatory frameworks advance.
Fast Summary: In April 2025, Bitcoin saw a price recovery while Ethereum’s real-world asset (RWA) tokenization value surged 20%. The month started with significant disruption caused by tariffs imposed by President Trump, leading to a drop in traditional markets, although Bitcoin managed to finish up for the month. Meanwhile, Canada’s federal election resulted in a Liberal minority government, impacting crypto policy discussions. In the US, new pro-crypto legislation was introduced in Texas and Georgia, as stablecoin market value rose amid regulatory developments.
Article Body: Crypto markets had a rollercoaster month in April 2025, significantly impacted by new tariffs from US President Donald Trump. Just before trading began on April 3, Trump announced “discounted reciprocal tariffs” affecting 185 nations, leading to a more than $8.5 trillion wipeout in global markets by April 8. Bitcoin, however, seemed to separate from the downward trend by the month’s end, edging up by over 16% to a trading price of $94,729.
Notably, Ethereum has gained ground with a noteworthy 60% tokenization value attributed to real-world assets (RWAs). Investors, including figures from major firms like BlackRock, are optimistic that blockchain will become the norm for RWAs. Nonetheless, scaling challenges are a concern that continues to linger among industry observers regarding Ethereum’s future.
In the political arena, pro-crypto lawmakers in various US states pushed forward recent crypto-related bills, while things took an interesting turn in Canada. The Liberal Party led by Mark Carney emerged victorious in federal elections held on April 28. Despite their win, they fell short of a majority, bagging only 169 seats, prompting talks of coalition governance. Carney has been vocal about his cautious stance on cryptocurrencies, having previously described them as failing to serve as money.
While signalling openness to digital currencies, Carney has proposed central bank digital currencies and called for establishing stronger protections for stablecoins. Meanwhile, the Liberals began the election season lagging, trailing the Conservatives led by Pierre Poilievre, who had endorsed Trump’s policies. This backdrop may have contributed to their electoral difficulties, especially with Trump’s combative trade stance.
Ethereum’s recent increase in RWA market share signifies a growing recognition of its utility. The network’s RWA tokenization value rose to $6.2 billion from April, a clear 20% bump. This uptick reflects investor trust in solid financial institutions launching tokenization pilot projects across various sectors, including real estate and carbon credits. Larry Fink of BlackRock confirmed Ethereum’s leading role in the RWA space, noting it as the go-to platform for tokenization.
Legislatively, Texas and Georgia have taken steps to introduce new blockchain-centric bills this April. Texas initiated HB 5352, aiming to pilot blockchain technology for enhancing operational efficiency in state affairs. Conversely, in Georgia, HR 905 pushes for public education initiatives around blockchain and cryptocurrency for K-12 students, emphasising the importance of tech literacy from a young age.
In terms of regulatory movements, Arizona’s Governor Katie Hobbs vetoed a bid to extend the state’s regulatory sandbox, but did sign a law safeguarding home miners against local zoning laws. This law protects individuals from being restricted in their use of computational power related to blockchain operations.
Finally, stablecoins had a busy month, with the total market capitalization increasing by $4 billion, which is quite the feat. This uptick comes as various jurisdictions lean towards more lenient regulations on stablecoins. A significant development was the successful committee vote on the STABLE Act in the US House, which lays down crucial rules for the issuance of these digital assets. Although the stock markets remain in chaos due to tariff disputes, the evolving regulatory landscape could signal brighter days ahead for the blockchain sector.
