The crypto market is shifting again with bold political moves, legal victories, and fresh ETF launches making headlines.
In this article, we’ll cover Donald Trump’s March 20 speech at the Digital Asset Summit, where he pushed for U.S. leadership in crypto.
We’ll also look at Fed keeps US interest rates in the range of 4.25% to 4.50% per year and the launch of the first-ever Solana futures ETFs in the U.S., a milestone that could reshape SOL’s position in the market.
Plus, Ripple just scored a major legal win against the SEC after a four-year battle, while TRON’s Justin Sun announced a TRX ETF and new Solana integration plans.
And despite the big news, the market dipped—so what’s really going on?
Here’s everything you need to know.
Trump Speech Digital Asset Summit on March, 20
Source: Crypto Tale
On March 20, 2025, in a pre-recorded speech to the Digital Asset Summit in New York, President Donald Trump expressed strong support for the cryptocurrency industry, asserting that it will enhance the global dominance of the U.S. dollar.
Trump emphasized that crypto can improve banking and payment systems, offering greater privacy, security, and financial opportunities for Americans. He sees the industry as a major driver of economic growth in the future.
Although Trump did not announce new executive actions, his administration has already taken steps to support crypto, such as pausing the sale of seized Bitcoin and engaging with industry leaders.
This speech aligns with the administration’s broader strategy to integrate cryptocurrencies into the national financial framework.
Earlier in March 2025, he proposed a U.S. Crypto Strategic Reserve to position America as the “Crypto Capital of the World.” This reserve would include major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Cardano (ADA), and Ripple (XRP).
Source: Altcoin Daily
Key Points from President Trump’s Address
- Ending Previous Regulatory Policies: United States President criticized the prior administration’s regulatory stance on cryptocurrencies, stating that his team is reversing what he termed a “regulatory war on crypto and Bitcoin”.
- Legislative Initiatives: He has urged Congress to pass legislation establishing clear and straightforward rules for stablecoins and market structures, aiming to provide a solid legal foundation for both large and small institutions to invest and innovate in the digital asset space.
- Economic Growth and Dollar Dominance: Trump said crypto can make banking safer, faster, and more private while helping Americans build wealth. He also believes dollar-backed stablecoins will keep the U.S. dollar strong worldwide.
- Vision for the Future: He expressed enthusiasm about the energy and passion within the crypto community, likening it to the pioneering spirit that built the United States. He reaffirmed his commitment to making America the “undisputed Bitcoin superpower and the crypto capital of the world.”
Federal Reserve issues FOMC statement
Source: english.kontan
On March 19, 2025, the Federal Reserve’s Federal Open Market Committee (FOMC) released a statement outlining its recent monetary policy decisions.
They decided to keep interest rates unchanged, maintaining the current range of 4.25% to 4.50%.
This signals a cautious stance amid growing concerns about inflation and slower economic growth.
Projections for 2025 GDP were revised downward from 2.1% to 1.7%, while inflation forecasts were pushed higher, with the PCE index now expected to hit 2.7% by year-end.
The Fed Chairman, Jerome Powell, said that inflation is not as high as it was before, but it is still above the central bank’s target of 2% per year.
He also mentioned that new tariffs on imported goods could make prices go up more, which makes it harder to control inflation.
For the cryptocurrency market, the Fed’s decision to not lower interest rates right now has mixed effects.
On one hand, keeping interest rates high means less money in the economy, which could lower interest in risky assets like cryptocurrencies in the short term.
On the other hand, this cautious approach could be good if it shows that the Fed is close to ending its rate hikes — which could make investors more optimistic later on.
That possibility could attract renewed interest in riskier assets like Bitcoin and altcoins, though for now, market sentiment is likely to remain cautious and reactive to further macro signals.
Crypto Market Reaction
Source: Coinmarketcap
Bitcoin increased 2% to reach $85,238, driven by the Federal Reserve’s decision to keep interest rates unchanged and slow the pace of its balance sheet reduction — from $25 billion to $5 billion per month.
Fed Chair Jerome Powell’s tone was seen as neutral, which helped ease market pressure. Analysts interpreted the signals as leaving room for future rate cuts, which typically benefit more volatile assets.
The effect carried over to other cryptocurrencies:
Also, following the Fed’s announcement, major U.S. stock indices experienced notable gains:
- S&P 500: Increased by 1.1%.
- Dow Jones Industrial Average: Rose by 0.9%, adding 383 points.
- Nasdaq Composite: Advanced by 1.4%.
The United States has launched its first Solana ETFs
Source: Binance
On March 20, 2025, Volatility Shares launched two Solana (SOL) futures exchange-traded funds (ETFs):
- Volatility Shares Solana ETF (SOLZ): This ETF tracks Solana futures with a management fee of 0.95% until June 30, 2026, after which it will increase to 1.15%.
- Volatility Shares 2X Solana ETF (SOLT): This ETF offers twice the leverage on Solana futures, with a management fee of 1.85%.
These ETFs are the first of their kind in the U.S., launching after the Chicago Mercantile Exchange (CME) introduced Solana futures on March 17, which saw $12 million in first-day trading.
By offering a regulated way to invest in SOL, these ETFs could boost institutional adoption, demand and liquidity.
Ryan Lee, chief analyst at Bitget Research, believes this could strengthen Solana’s market position and help it close the gap with Ethereum.
The swift approval of Solana futures ETFs by U.S. regulators highlights a shift in stance toward digital assets.
Experts suggest that this move could accelerate the path toward a Solana spot ETF, similar to the trajectory of Bitcoin and Ethereum.
However, some experts doubt they will attract significant investment. Bloomberg’s senior ETF analyst, Eric Balchunas, noted that spot Ether ETFs saw little interest compared to Bitcoin ETFs, and Solana futures ETFs may face the same issue.
Even if inflows are low, the ETF reinforces Solana’s status as a top cryptocurrency.
This was further validated when U.S. President Donald Trump announced that Solana would be part of the country’s crypto reserve, alongside Cardano (ADA) and XRP.
Will institutional demand drive SOL to new highs?
Source: tradingview
With the introduction of these ETFs, anticipation is growing for increased institutional participation.
Analysts predict that a surge in institutional capital could significantly expand Solana’s market valuation, bringing it closer to Ethereum.
However, some remain cautious, pointing out that futures-based ETFs generally attract less liquidity than spot ETFs.
Ripple Secures Major Legal Victory Against the SEC
Source: VRITIMES
On March, 19, Ripple recently achieved a significant legal win, bringing an end to a four-year battle with the U.S. Securities and Exchange Commission (SEC).
Ripple’s CEO, Brad Garlinghouse, announced that the SEC has dropped its case against the company, ending a lawsuit that started in 2020 when the SEC claimed Ripple raised $1.3 billion by selling XRP without proper approval.
This resolution had a positive impact on the cryptocurrency market.
Following this announcement, XRP’s price experienced an initial surge of approximately 8%, reaching a high of $2.55.
Although, this rally was short-lived, and XRP’s price has since stabilized around $2.38.
There is also growing speculation that an exchange-traded fund (ETF) linked to XRP could receive approval this year, further boosting investor interest and adoption.
Despite the SEC dropping its appeal, Ripple still faces a $125 million fine related to past securities law violations.
However, experts suggest that the company could negotiate a reduction in the penalty, especially given the recent favorable ruling.
Why didn’t XRP price surge more?
Source: Coinmarketcap
Even though XRP briefly rallied 11%, it didn’t hold above $2.50 and fell about 6.3% shortly after. Analysts say the reason is simple: the market already expected this outcome.
According to Dmitrij Radin, the founder of Zekret and chief technology officer of Fideum, the case being dropped was already priced in when Trump was elected in 2024.
His administration was expected to be more crypto-friendly, so investors anticipated SEC rollbacks.
Even if price action was underwhelming in the short term, analysts believe this legal win and a friendlier regulatory environment could improve investor confidence in the long run.
Why Is the Crypto Market Down Today? – March 21
Source: Coin360
The cryptocurrency market experienced a downturn on March 21, with the total market capitalization decreasing by 2.5% to approximately $2.75 trillion. Several factors have contributed to this decline:
- Bitcoin’s Inability to Sustain Recent Gains: Bitcoin’s price surged to $87,000 following President Donald Trump’s address at the Digital Asset Summit in New York on March 20. However, the rally was short-lived as the speech did not introduce new policies, leading to profit-taking among traders.
- Risk-Off Sentiment Among Investors: The cryptocurrency market’s correction aligns with a similar downturn in U.S. equities. On March 20, the S&P 500 decreased by 0.22, after increasing the Nasdaq Composite Index fell by 0.33%, and the Dow Jones Industrial Average edged down by 0.02%. This shows that many investors are becoming more careful and avoiding risky investments.
- Technical Indicators Suggesting Further Declines: From a technical analysis standpoint, the combined market capitalization of all cryptocurrencies is exhibiting a bearish continuation pattern, known as a bear flag. This usually means prices could keep falling, especially if they drop below important support levels.
Next Steps…
Founder of Tron, Justin Sun, Announces Upcoming TRX ETF
Source: Justin Sun
On March 20, 2025, TRON founder Justin Sun announced via X that a TRX Exchange-Traded Fund (ETF) is coming soon.
This development holds significant potential for TRX, as ETFs can enhance market liquidity and attract institutional investors.
Following the announcement, TRX experienced a notable market reaction, with its price surging by 12.4% within the first hour, reaching $0.142 at 10:15 AM UTC.
Trading volume also spiked by 230% compared to the previous day’s average, totaling 3.4 billion TRX traded by 11:00 AM UTC.
By the time of the article, its price stands at $0.2341, a rise of approximately 66.69% in the past 24 hours.
Source: Coinmarketcap
Additionally, Justin Sun has revealed plans to integrate TRX into the Solana blockchain, aiming to leverage Solana’s high-speed infrastructure to enhance TRX’s accessibility and utility.
These strategic moves underscore TRON’s commitment to expanding its ecosystem and increasing TRX’s adoption across diverse blockchain platforms.
In Summary…
This week, several events showed how politics, rules, and big financial companies are starting to play a bigger role in crypto.
These movements discussed in the article suggest that the crypto market is being taken more seriously.
But even with this good news, prices are still down and people are trading less. That shows investors are being careful.
In the next few weeks, the focus will be on how regulators and big players react to this momentum—and if it’s strong enough to push the market higher.
