21Shares President Duncan Moir stated that actively managed crypto ETPs will become a new market trend, with global assets expected to reach 1.8 trillion USD by 2025. 21Shares emphasizes combining autonomous strategy to manage risk and has launched products linked to high-yield strategies. The market shows growing demand for complex structures and staking products. Duncan Moir pointed out that new products need to be developed based on internal research and market trends.

Gate News bot Message According to Gate's official announcement Gate余币宝 has launched USDD (Decentralized USD) flexible savings products. The product offers an annual yield of 5%, with a minimum investment of only 1.5 USDD, supporting deposits and withdrawals at any time, with hourly interest distributions. USDD is a fully decentralized stablecoin pegged to the US dollar through cryptocurrency reserves.

The latest draft of the US CLARITY Act proposes restrictions on platforms providing yield for stablecoin holdings, prohibiting returns similar to bank deposit interest. The draft permits loyalty and promotional rewards, but these must avoid being viewed as "interest-like." Regulators will jointly define compliant forms, with some industry insiders believing the draft is more stringent.

Gate News 消息，3 月 23 日，美國 2 年期國債（美國政府發行的 2 年期債券）收益率觸及 4%，創下 2025 年 6 月以來最高水平，日內漲幅超過 10 個基點。

Gate News report: On March 22, DeFi risk management protocol Gauntlet released a statement stating that the USR abnormal token issuance event did not affect most Gauntlet treasuries, with limited impact on a small number of high-yield vaults. Gauntlet stated it will continue to update information and release subsequent progress based on the team's response to the current situation and liquidity management.

A certain CEX's asset management division has launched tokenized shares of a Bitcoin yield fund in collaboration with Apex Group, targeting non-US investors and utilizing the ERC-3643 standard to achieve automated compliance. Institutional assets are being accelerated onto the chain to improve efficiency and reduce costs.

Digital payment platform Wirex integrated the Gauntlet-managed Morpho vault into its enterprise accounts on March 20, enabling automatic conversion of corporate funds to USDC or EURC deposited into the vault. Over $10 million has generated yield through this feature, with plans to expand to pound sterling, Australian dollar, and Hong Kong dollar accounts, as well as launch enterprise loans backed by Bitcoin collateral.

Gate News, on March 20th, spot gold fell to touch $4,630 per ounce, down 0.44% intraday; spot silver fell 3.00% intraday, now trading at $70.56 per ounce. The US 10-year Treasury yield (a key indicator measuring the long-term borrowing costs of the US government) rose to 4.33%, the highest level since August of last year.

March 20th, the U.S. Senate saw a breakthrough in stablecoin yield legislation discussions, with the key lying in building a compromise framework. Senators pointed out that the focus has shifted to identifying stakeholders rather than bill details, and the White House maintains a cautious stance. The latest discussions plan to restrict the use of traditional financial terminology, aiming to reduce regulatory pressure. Stablecoin-related business has become an important part of platform revenue, and policy changes could impact business models. The probability of this bill passing by 2026 is estimated at 61%.

The U.S. cryptocurrency market structure CLARITY Act negotiations are nearing completion, with updated text submitted to the White House, and the Senate discussing bridging final gaps. Compromises on stablecoin yield are imminent, with some concessions to community banks still under discussion. Meanwhile, the SEC has released crypto asset classification definitions, emphasizing the need for Congress to rewrite legislation.