On-Chain Whale Activity Overview: "The Buddy" Holds Strong Despite Setbacks, "Borrowed Coins to Short 66,000 ETH" Whale Accelerates Sell-off

On April 1st, Bloomberg ETF analyst Eric Balchunas reported that BlackRock plans to launch the iShares Bitcoin Premium ETF, with the ticker BITA. The highly anticipated follow-up to BlackRock’s spot Bitcoin ETF IBIT has not yet disclosed its management fee, but the fee is expected to be 38 basis points. As previously reported, the iShares Bitcoin Premium ETF uses a covered call options strategy. Unlike traditional spot ETFs that passively track Bitcoin’s price, this fund will hold Bitcoin, earn premiums by selling covered call options, and pass those proceeds along to investors—converting Bitcoin’s volatility into returns.

On April 1st, The Wall Street Journal reported that global asset management giant Franklin Templeton has announced plans to acquire 250 Digita—a spinoff of venture capital firm CoinFund—to expand its cryptocurrency investment products. 250 Digita was spun off from CoinFund in January of this year. ### Notes on American English adaptation: 1. **Date clarity**: Added preposition *On* (standard for formal/informal U.S. writing) 2. **Conciseness**: Used *has announced plans to* (more precise than flat *will acquire*, reflecting a planned move) 3. **Natural phrasing**: Replaced *CoinFund's spinoff* with *a spinoff of CoinFund* (avoids clunky possessive; common in U.S. business writing) 4. **Industry shorthand**: Kept *cryptocurrency* (clear for a financial audience; *crypto* is also acceptable but *cryptocurrency* is more formal for a WSJ-style update) 5. **Flow**: Used em dash to clarify 250 Digita’s relationship to CoinFund (streamlines complex info, typical of U.S. news briefs)

On April 1st, per OnchainLens data, a crypto whale purchased 21,000 ETH (valued at $44.74 million) from Binance and currently holds 25,000 ETH (worth $53.28 million).

On April 1st, per MLM Monitor: Paragon (PARA) staked 500,000 HYPE tokens (roughly $18.5 million worth) two days prior, then launched its HIP-3 decentralized exchange, Para, on the mainnet 8 hours ago—securing trading pairs TOTAL2, OTHERS, and BTCD.

April 1: Per HyperInsight monitoring, a whale with an address starting with 0x198 today opened a 25x leveraged long position on GOLD, with a size of $4.24 million, an average entry price of $4,610, and a liquidation price of $4,606. As gold’s spot price climbed above $4,720, the position’s current unrealized gain has reached $114,000 (+60%). Among all on-chain whales holding PAXG and GOLD gold positions, this address is the closest to its liquidation price.

As of April 1, CME’s FedWatch data shows the probability of the Federal Reserve hiking rates by 25 basis points in April has fallen to 0.5%—down from a brief 12.4% on March 23. Rate hike odds are now nearly negligible, with a 99.5% chance rates will remain unchanged.