Market Updates: Crypto Sentiment Hits 3-Month High Amid Bitcoin Rally, GSR Launches Multi-Asset Crypto ETF, Blockchain Capital Eyes $700M Funding Round

Latest Market Updates: As of 23rd April 2026.

The cryptocurrency market showed renewed strength on April 23, 2026, supported by improving sentiment and a sharp upward move in Bitcoin.

Market Sentiment Hits Three-Month Peak as Bitcoin Rallies

Investor sentiment across crypto markets improved sharply on Wednesday, with the Alternative.me Crypto Fear & Greed Index rising 14 points to 46 out of 100 — its highest level since January 18.

Despite the gain, the index remains in the “Fear” zone. However, the move marks a significant recovery from February 23, when sentiment collapsed to an all-time low of 5.

That earlier downturn followed a major policy shift from the Trump administration, when a 15% global tariff triggered widespread market selling. Bitcoin subsequently fell toward $60,000 amid the broader risk-off environment.

Since mid-January, sentiment has remained largely subdued, even as institutional participation has increased and regulatory conditions in Washington have grown more supportive. However, the latest rebound suggests confidence may be gradually returning to the market.

Bitcoin’s price action reinforced this shift in tone. On Wednesday, the asset surged 5.9% within a 20-hour window, briefly touching nearly $79,400 before easing back to $77,920, according to CoinGecko data.

The move closely tracked the improvement in sentiment, underscoring the link between price momentum and investor psychology.

GSR Debuts Multi-Asset Crypto ETF

In a separate development, institutional crypto trading platform GSR has introduced its first exchange-traded fund.

The product, named the GSR Crypto Core3 ETF (BESO), provides exposure to Bitcoin, Ethereum, and Solana. In addition, it incorporates staking rewards and uses a dynamic allocation strategy to adjust holdings over time. The fund carries a 1% management fee.

Early trading activity showed strong demand. Nasdaq data recorded approximately 185,574 shares traded on launch day, generating about $4.8 million in volume. The ETF closed at $26.04 on Wednesday before rising to $33 in after-hours trading.

Blockchain Capital Targets $700M for New Investment Funds

Meanwhile, crypto-focused venture capital firm Blockchain Capital is seeking to raise $700 million for new crypto investments. According to Bloomberg, the firm will split the capital into two funds: one focused on early-stage experimental projects and another targeting more established companies with proven traction.

The fundraising process will conclude within six months. Even so, the firm has already begun deploying part of the capital.

Meanwhile, this move builds on its earlier success. Blockchain Capital previously raised $1 billion for crypto investments and now manages over $2 billion in assets. Its portfolio includes major industry names such as Coinbase and Kraken, as well as stablecoin issuers Tether and Circle.

Shariah-Compliant PUSD Stablecoin Expands to ADI Chain

In the stablecoin sector, the Shariah-compliant PUSD token is expanding to a new blockchain network. Specifically, the ADI Foundation announced that PUSD will be deployed on ADI Chain, a Layer 2 network focused on institutional settlement in the Middle East. 

PUSD currently has a circulating supply of approximately $2.3 billion and is fully backed by reserves held in UAE dirhams and Saudi riyals, each of which is pegged to the US dollar.

PUSD is already supported across Ethereum, Solana, BNB Chain, and Tron. With this latest expansion, its reach and interoperability across major ecosystems improve.

Strategically, the expansion positions PUSD to tap into the global Islamic finance market, which exceeds $3 trillion in assets.

ADI Chain serves as a settlement layer for a dirham-backed digital currency initiative involving International Holding Company and First Abu Dhabi Bank, under approval from the UAE Central Bank.

PUSD is issued by Palm Azgar Finance and is designed for institutional use. Its applications include corporate treasury management, exchange operations, and payment processing.