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GM to all you crypto nuts. Crypto Nutshell #499 takin’ it slow… 🦥 🥜

We're the crypto newsletter that's more adventurous than uncovering a hidden tomb in the jungle... 🗺️🏺

What we’ve cooked up for you today…

• 🏦 Here come the crypto ETFs

• 📅 Bitcoin To $740k By This Date

• 📉 Is Ethereum more scarce than Bitcoin?

• 💰 And more…

What’s in the Crypto Nutshell Portfolio?

HERE COME THE CRYPTO ETFs 🏦

BREAKING: $7.13 Trillion Charles Schwab Ready to Go Big on Crypto

Last week we briefly mentioned Charles Schwab gearing up for a BIG move into crypto.

In case you don’t know, Charles Schwab is one of the largest brokerage firms in the world with $9.85 TRILLION in assets under management.

And whilst you CAN already trade Bitcoin and Ethereum ETFs on their platform, they’ve indicated that they want to launch their own crypto ETFs.

Here’s what Charles Schwab’s incoming CEO, Rick Wurster, had to say in a recent interview:

Continuing on, Wurster explains the reason they’ve been sitting on the sidelines:

It is a little odd that they didn’t initially jump on the Bitcoin ETF hype…

Especially considering that industry giants like BlackRock and Fidelity were there from the beginning.

But make no mistake, this is still a MASSIVE deal.

And now that Trump is bringing in a supportive regulatory environment for crypto, things are about to get crazy.

Like…

Bitwise just filed to have their 10 Crypto Index converted into an ETF.

This fund holds the following cryptocurrencies:

Bitwise also filed for an ETF that holds both Bitcoin and Ethereum.

The weightings of this ETF would be based on the relative market caps of both BTC and ETH. (Roughly 80/20 BTC to ETH if launched today)

There’s actually been quite a few crypto ETF filings recently…

ETF analyst Eric Balchunas posted the following summary table to X, outlining all pending filings:

Balchunas also had this to say:

2025 is shaping up to be a truly crazy year for crypto…

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BITCON TO $740,000 BY THIS DATE 📅

Bitcoin will hit $740,000 by April of 2028.

Just over 3 years away.

That’s the latest prediction out from billionaire, Dan Morehead.

Dan Morehead is the founder of Pantera Capital - an investment fund with over $4.4 billion dollars under management.

Pantera Capital made history in 2013 as the first U.S. asset manager to launch a cryptocurrency investment fund, buying Bitcoin at just $65 per coin. 🤯

Check out their first emails regarding Bitcoin:

Dan Morehead & Pantera Capital are up over 1000x on their first Bitcoin purchases.

So, they have a pretty good track record.

In his latest investor memo, Dan laid out where he thinks Bitcoin is going next:

Dan continues:

Dan finished with this:

After Bitcoin has already gone up 1000x, it is still the most compelling opportunity Dan has seen in his career. 😯

Reminder: This is coming from a billionaire asset manager with 4 decades of experience.

Let that sink in. 🚰

IS ETHEREUM MORE SCARCE THAN BTC? 📉

Today we’ll be checking in on the amount of Ethereum available for sale on exchanges.

Here’s how to interpret this metric:

• Decreasing exchange balances: Bullish indicator as it signals a shift towards long-term holding 🐂

• Increasing exchange balances: Bearish indicator as coins being transferred to exchanges are more likely to be sold 🐻

Currently there is 12,617,531 Ethereum available for sale on exchanges.

That’s ~10.45% of the entire circulating supply.

And here’s the thing…

As a percentage, there’s even less Ethereum on exchanges compared to Bitcoin.

As of today, 14.56% of the circulating Bitcoin supply is sitting on an exchange.

Year-to-date, Ethereum exchange balances have decreased by 1,562,946 ETH.

That’s $5.69 billion at today’s prices!

As Ethereum continues to leave exchanges, it signals that investors have a preference for long-term holding.

And with ~89.55% of the supply not sitting on an exchange…

That’s a big deal.

Put simply, there just isn’t that much Ethereum available for sale right now.

CRACKING CRYPTO 🥜

NYSE files to list Bitwise's Bitcoin and Ethereum mixed ETP. The ETP uses market cap weighting to give balanced and simplified exposure to Bitcoin and Ethereum to investors.

Think Ethereum’s ETH is Dead? Surging Metrics Show Otherwise. Data shows a bump in revenue, fees, new wallets and on-chain volumes on Ethereum, with the past month showing elevated levels of activity compared to the period from May to September.

Tether discontinues support for euro-pegged stablecoin EURt. Tether has asked EURt holders to redeem tokens within one year, ending on Nov. 25, 2025, as the company decided to discontinue the stablecoin.

Analysts claim crypto capital rotation is driving Ethereum, Cardano and Solana gains. Capital is flowing out of Bitcoin and into altcoins, according to QCP Capital analysts.

WHAT WE’RE READING 📚

Want to get even smarter? Check these out.

p.s. all completely FREE (one click subscribe link)

• Raremints (link) - Daily crypto news

• Bitcoin Breakdown (link) - Twice weekly Bitcoin news

• Crypto Pragmatist (link) - Actionable alpha 3x a week

• The Hustle (link) - Get Smarter on Business and Tech

• Your Next Breakthrough (link) - Personal growth with Mark Manson

• The Neuron (link) - AI trends and tools to keep you ahead

CAN YOU CRACK THIS NUT? ✍️

Select your answer below and you’ll be redirected to the results page. (answer explanation can be found after “Meme Corner”)

MEME CORNER 😂

Because what would the crypto world be without its share of memes?

Trivia Answer: B) Storing the blockchain and validating transactions 🥳

A Bitcoin node stores and verifies each block in the blockchain.

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HOW DID WE DO? 🤷

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NUTCASE REVIEW OF THE DAY 🔍

DISCLAIMER: The content of this newsletter is not financial advice. This newsletter is strictly educational and is not investment advice. Please be careful and do your own research.