April 2025 saw Bitcoin prices rebound by 16% despite stock market volatility due to President Trump’s tariffs. Ethereum’s tokenization of real-world assets (RWAs) rose by 20%, attracting interest from major companies like BlackRock. Political outcomes in the US and Canada could influence crypto legislation, with new bills introduced. Stablecoins grew by $4 billion, amidst changing regulatory frameworks.
April 2025 was a month of resurgence for the cryptocurrency sector, as Bitcoin regained momentum even amid a tumultuous political backdrop caused by new tariffs imposed by US President Donald Trump. His recent policy shifts on April 2 saw reciprocal tariffs implemented against 185 countries, triggering significant volatility in traditional stock markets; the Dow Jones Industrial Average fell sharply, while the S&P 500 witnessed its largest drop since March 2020. While Bitcoin followed the initial market downturn, it staged a recovery towards month’s end, ending April on a positive note.
In a slight turnaround from stocks, Bitcoin has shown resilience. The cryptocurrency fell 9% in the wake of the president’s announcement but managed to bounce back, climbing 16.16% by the close of the month, trading at approximately $94,729. Blockchain technology also gained traction, especially Ethereum, which now holds 60% of the real-world asset (RWA) tokenization market. Major investors like BlackRock believe that Ethereum could be the backbone for RWA transactions—a sentiment that’s shared, but concerns about scalability still cast a shadow over this potential.
On the political front, pro-crypto lawmakers in several US states are advancing their agendas, with new bills popping up in Texas and Georgia during April. Meanwhile, in Canada, the Liberal government secured a victory in the parliamentary elections on April 28. However, the party led by Prime Minister Mark Carney fell short of a majority, which complicates its position on cryptocurrency regulation. Carney, previously a central banker himself, has expressed scepticism about cryptocurrencies while still indicating a willingness to explore digital currency.
Ethereum has made strides in tokenising real-world assets, boasting a significant increase to $6.2 billion in April, which is a 20% rise. This growth has been attributed to financial giants launching pilot projects in asset classes ranging from real estate to gold. Larry Fink of BlackRock emphasized that Ethereum is not just a choice but a default option for tokenization, an endorsement that underscores Ethereum’s growing dominance in the blockchain space.
In Texas, proposed legislation aims to develop a State Blockchain Technology Pilot Program to evaluate how blockchain can enhance government operations. Meanwhile, Georgia’s initiative encourages educational outreach on blockchain and cryptocurrency spanning K-12 students, reinforcing the importance of technological literacy at an early age.
Amidst this environment of innovation, notable developments occurred regarding stablecoins, as their total market cap increased by $4 billion in April. The STABLE Act, aimed at establishing clearer guidelines for the issuance and reserves of stablecoins, gained traction in the US Congress, signalling a possible shift toward more structured oversight. The Securities and Exchange Commission (SEC) also ceased its inquiry into PayPal’s stablecoin, PYUSD, indicating a potential easing of regulatory pressures.
As the Trump administration’s first 100 days draw to a close, the markets face ongoing scrutiny and uncertainty around tariff negotiations—particularly with China, who claims no talks are currently in motion. Despite the cloudy horizon, the evolving regulatory landscape for cryptocurrencies in the US may provide some glimmers of hope for the sector as it navigates these challenges, setting the stage for future growth.
