Online 2016 Update 1 (Spring 16)
Jujhar Singh, has announced the Spring 2016 wave of CRM Online, https://community.dynamics.com/b/msftdynamicsblog/archive/2016/03/02/announcing-dynamics-crm-spring-2016-wave
The update is also available for CRM 2016 On-Premises where it is referred to as Service Pack 1.
The version number for Online (362) is different from On-Premises (359)
Demontrations of new features are shown in this video on YouTube.