2025 Bitcoin Price Surges to $109,000: Crypto Market Shifts in Trump's First Week Back

Essential Highlights

• President Trump issued a groundbreaking executive order on digital assets, initiating a review of crypto regulations and exploring a potential national digital asset reserve.
• The SEC adopted a more crypto-friendly stance by repealing SAB 121, forming a dedicated Crypto Task Force, and appointing pro-crypto Mark Uyeda as acting chairman.
• Crypto issuers are actively submitting innovative ETF proposals, signaling confidence in the SEC’s evolving regulatory approach.

President Donald Trump's return to the Oval Office in 2024 marked a transformative week for the cryptocurrency sector.

Bitcoin (BTCUSD) soared to an unprecedented all-time high above $109,000 prior to Trump's inauguration, fueled by anticipation of regulatory reforms under his administration. Since taking office, the White House has paved the way for clearer crypto regulations, easing lawmakers' positions and enabling a surge of new crypto offerings.

Here’s a detailed look at the pivotal crypto market developments during Trump's first week back in office.

Executive Order Catalyzes Crypto Regulatory Progress

In his initial week, Trump fulfilled campaign promises by signing an executive order focused on digital assets and financial technology. This directive established a working group tasked with reviewing existing crypto regulations and proposing future pathways, including the possibility of creating a strategic bitcoin reserve.

While the executive order stops short of a definitive bitcoin stockpile, it signals federal interest in a national digital assets reserve. Notably, the order also prohibits the development of a central bank digital currency (CBDC), maintaining a cautious stance on government-issued digital money.

SEC Embraces a More Supportive Approach to Cryptocurrency

The U.S. Securities and Exchange Commission (SEC), historically stringent with crypto enforcement, is shifting gears under Trump’s administration. Former Chair Gary Gensler resigned before the inauguration, and Trump's nominee, Paul Atkins, known for his crypto-positive outlook, awaits Senate confirmation.

Meanwhile, acting SEC chair Mark Uyeda has launched a new Crypto Task Force led by Commissioner Hester Peirce, a vocal advocate for regulatory clarity and innovation in the crypto space. Additionally, the SEC rescinded Staff Accounting Bulletin No. 121 (SAB 121), removing barriers for traditional banks and financial institutions to serve as crypto custodians.

Crypto Industry Capitalizes on Regulatory Easing with New Product Launches

The crypto sector is swiftly responding to regulatory relaxation by submitting over 30 new crypto ETF applications since the administration change. Initial filings focus on established cryptocurrencies like Litecoin, Solana, and Ripple, but some issuers are pushing boundaries with riskier proposals, including a 2x leveraged MELANIA meme coin ETF.

Furthermore, Nasdaq and others have requested approval for in-kind redemptions for spot bitcoin ETFs, such as BlackRock's iShares Bitcoin Trust (IBIT), allowing authorized participants to exchange shares for actual bitcoin, enhancing liquidity and investor flexibility.

These developments underscore a dynamic and evolving crypto landscape under the Trump administration, promising increased innovation and regulatory clarity.

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