Yay ETF... BUT

Grayscale Up Next?

Alright, now that we have covered the potential pitfalls of investing in a futures-based BTC ETF, let's take a look at what Mr. Gensler, our trusty, "retail-protecting" savior from the SEC could do to actually help investors.

He could quickly and easily approve the Grayscale Bitcoin Trust (GBTC) to be converted into a spot ETF. Right now, the Trust is the largest Bitcoin investment vehicle in the world, holding approximately 3.5% of all Bitcoin in circulation.

So, why would it be epic for him to support the notion of GBTC converting into an ETF?

Because it would immediately close the discount that GBTC is trading at, and in turn, produce more than $8 billion in gains for investors overnight.

And right on cue (and as promised), GBTC has submitted its filing to convert into an ETF. Not only that, but DCG, the owners of Grayscale, announced a plan to increase their buyback of GBTC to $1 billion.

Your move Gary.

Use Your IRA to Invest in Crypto & More

Coinbase Strategy Teardown: How Coinbase Grew Into The King Midas Of Crypto

Never Sell Again

• This dip will have lasted ~200 days. That makes it the second-longest correction in a post-halving bull market right next to what happened in the middle of the 1st cycle.
• The only addresses that have not been accumulating coins over the past 30 days are the small fish (less than 1 BTC owned). Everyone else is buying.

• The current market value to realized value (MVRV) ratio sits around 3. That means in aggregate, hodlers are up 3x on unrealized profits. This MVRV region is historically the goldilocks zone from which parabolic moves develop. The expected return when Bitcoin’s MVRV is in this zone is 35-50% (in other words, don't sell).

Is your portfolio adequately exposed to high-potential alts?

Tether Bounty Program

Hindenburg Research, an investment firm that is well known for short-selling and exposing fraud, has announced a reward of up to $1,000,000 for "exclusive details" on the "supposed reserves" backing Tether (USDT), the world's largest stablecoin.

“We feel strongly that Tether should fully and thoroughly disclose its holdings to the public. In the absence of that disclosure, we are offering a $1,000,000 bounty to anyone who can provide us exclusive detail on Tether’s supposed reserves.”

Much of the internet (Tether included) was quick to try to laugh off Hindenburg, but those who wish to ignore Hindenburg do so at their own peril.

This is the same investment firm that originally claimed that hype-stock-of-the-year, Nikola (NKLA), and its CEO, Trevor Milton, were a major fraud. Go ahead and check out Nikola's stock chart to see how it's doing.

Earlier this year, Hindenburg also announced a short on Ebang, a Chinese Bitcoin ASIC manufacturer. Hindenburg is currently up more than 60% on that trade as well.
 

New York Joins Crackdown on Crypto lending, Seemingly Targeting Nexo and Celsius

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