Kevin Warsh, former Federal Reserve governor and President Trump's nominee to replace Jerome Powell as Fed Chair, has disclosed a significant personal crypto portfolio in his financial filings. The 69-page disclosure, filed with the Office of Government Ethics on Tuesday, reveals combined assets with his wife of at least $192 million. Through DCM Investments 10 LLC, Warsh holds stakes in Solana (SOL), the prediction market Polymarket, the Layer-2 network Blast, Optimism (OP), dYdX (DYDX), Dapper Labs, and multiple crypto fintech firms. Each crypto holding is valued under $500,000.
Notably, Warsh has previously called Bitcoin "the new gold," but his disclosed portfolio shows no direct exposure to BTC. His financial interests extend to a direct stake in SpaceX via the AVGF II fund and over $100 million in exposure through Juggernaut Fund LP positions tied to advisory work with the Duquesne Family Office. The disclosure comes as Warsh's confirmation hearing, the Senate Banking Committee's markup of the Clarity Act, and the April 28-29 Federal Reserve meeting converge in a critical two-week window.
In a separate major institutional move, Goldman Sachs filed with the SEC for a Goldman Sachs Bitcoin Premium Income ETF. This is one of the bank's first direct crypto product filings and represents its most significant Bitcoin move to date. The fund's structure involves holding exposure to spot Bitcoin ETPs and selling call options on 40–100% of that exposure. The collected premiums are then distributed to investors as monthly income, a strategy that caps upside participation during strong rallies in exchange for steady yield. Goldman Sachs already employs a similar covered-call strategy for the S&P 500 and Nasdaq. The filing indicates a potential launch in late June or July 2026.
Other key developments from the day include Tether's launch of its first consumer-facing product, tether.wallet, a self-custodial app supporting USDT, its US-regulated stablecoin USAT, gold-backed XAUT, and Bitcoin across Ethereum, Polygon, Arbitrum, and the Lightning Network. CEO Paolo Ardoino described it as the "People's Wallet."
Additionally, Circle CEO Jeremy Allaire announced the company is exploring a native token for its Arc Network, a Layer-1 blockchain currently in testnet with participants like BlackRock, HSBC, and Visa. The news caused Circle's stock (CRCL) to jump 7%.
Market-wise, crypto majors fell 1-2% after a recent rally, with Bitcoin trading around $74,200, Ethereum at $2,335, and Solana at $84. The broader market focus shifted to economic data after the U.S. Producer Price Index (PPI) for March came in softer than expected at 4.0% year-over-year, with traders now awaiting the Federal Reserve's Beige Book for further direction.
