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What we’ve cooked up for you today…

• 🚨 Ethereum ETF on its way

• 🍌 So it begins…

• 🌊 Huge inflows last week

• 💰 And more…

MARKET WATCH ⚖️

Only the top 20 coins measured by market cap feature in this section

ETHEREUM ETF ON ITS WAY🚨

BREAKING: Bloomberg analysts revise ETH ETF approval odds to 75% amid rumours of SEC flip

Well well well….

We told you to have faith.

The Bloomberg analysts have now increased their odds of an Ethereum ETF approval from 25% to 75%. 🚀

Sources have explained that the SEC has now asked ETF applicants to update their 19b-4 filings.

The main reason the Bloomberg ETF analysts initially had low odds of an Ethereum ETF approval was the lack of engagement from the SEC.

Today, that changed.

Here’s how Nate Geraci, president of ETFStore, now predicts things will play out:

1. SEC will approve the 19b-4s - this is the filing necessary to introduce a new product

2. SEC will then “slow play” the S-1s - this is the filing necessary for the new product to officially begin trading

It’s not known how long the SEC could wait to finally approve these S-1 filings.

But, ETF analyst James Seyffart had this to say:

However, this delay may end up being beneficial for Ethereum in the long-run.

As we discussed a while ago, institutional investors are still digesting the Bitcoin ETFs.

Adding in Ethereum a couple months after the Bitcoin ETFs would just complicate the conversations.

As this news broke out, the price of ETH rocketed up 18.5% to ~$3,650. 🚀

Here’s a breakdown of all issuers currently in the Ethereum ETF race:

VanEck’s final decision deadline is the first to come up.

All eyes are now on May 23rd…

Under 48 hours to go.

We’re now extremely confident we’ll see an approval on this date.

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SO IT BEGINS… 🍌

The “banana zone” has now begun.

That’s the latest message out from Raoul Pal.

In case you have no idea what the ‘banana zone’ is, check out our post on it here.

In a nutshell, the ‘banana zone’ is the part of the crypto cycle in which we see a huge melt upwards.

In Raoul’s latest update to investors, just 6 days ago, he warned that the ‘banana zone’ was imminent.

Today, with the 180 on the Ethereum ETFs, it would appear as if the ‘banana zone’ has now begun.

With the bull-run now back in full-force, Raoul believes crypto investors have just 1 job to do:

Do not f*ck this up.

In order to make the most of a crypto bull-run, Raoul has 9 rules that should be followed:

1. No leverage

2. No FOMO

3. Top 3-5 assets as main bag

4. Self-custody your assets

5. Only trade a small degen bag (less than 10%)

6. HODL over a long time horizon

7. Zoom out & remove the noise

8. Expect 35%+ pull-backs frequently

9. Buy the f*cking dip if possible

We agree with Raoul. These 9 rules will serve you well.

Welcome to the banana zone. 🍌

HUGE INFLOWS LAST WEEK 🌊

Time for our weekly check in on digital asset fund flows. (globally, not just the US ETFs)

And last week was much more impressive…

Last week digital asset funds saw inflows totalling $932 million, bringing the inflow streak to 2 weeks.

As always, Bitcoin accounted for the majority of inflows with $942 million.

Short Bitcoin also experienced next to no inflows, signalling a positive outlook among investors.

Unfortunately Ethereum once again experienced outflows, totalling $23.3 million. Likely due to the uncertainty surrounding the ETF approvals.

Solana, Chainlink and Cardano all experienced inflows of $4.9m, $3.7m & $1.9m respectively.

Regionally, the inflows were dominated by the US which saw just over $1 billion in inflows.

Switzerland and Germany also saw minor inflows of $27.1m and $4.2m respectively.

Whereas Hong Kong, Canada & Sweden all experienced outflows of $82.5m, $16.7m & $5.9m respectively.

CoinShares notes that these inflows were an immediate response to the lower than expected CPI report on Wednesday.

The latter 3 trading days of the week saw 89% of the total flows.

These huge inflows also resulted in the price of Bitcoin bouncing back.

And this weeks already off to a great start.

Monday saw net inflows for the US ETFs come in at $237.2 million.

We’re back baby.

CRACKING CRYPTO 🥜

Grayscale switches CEO following $144 million reduction in fees as Bitcoin outflows finally subsiding. Grayscale Investments announces CEO transition as Michael Sonnenshein steps down.

Craig Wright Lied to UK Court 'Extensively and Repeatedly,' Judge Writes. Judge James Mellor released his written judgement on the Crypto Open Patent Alliance vs Craig Wright case on Monday.

Bitcoin hits record in Japan, Argentina and Philippines' local currency. Bitcoin prices are at record levels in several countries following a 7% surge on the day as it topped $71,000.

Kraken Insists It Will Keep USDT Listed in European Markets. Kraken, a U.S.-based crypto exchange, insisted it would keep USDT listed in European markets while MiCA rules are not finalized.

WHAT WE’RE READING 📚

Want to get even smarter? Check these out.

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

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• Wild Golf (link) - Twice weekly Golf insights & tips

• 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: C) Gavin Wood 🥳 

The Ethereum Yellow Paper, authored by Dr. Gavin Wood, is the definitive technical document that underpins the Ethereum protocol.

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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.