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GM to all you crypto nuts. Crypto Nutshell #442 cleanin’ up… 😶‍🌫️ 🥜

We're the crypto newsletter that's more inspiring than running the distance with Forrest Gump... 🏃‍♂️🌟

What we’ve cooked up for you today…

• 🏦 Bitcoin ETF options approved

• 🪨 Bitcoin matters to BlackRock

• 🚂 Right on track

• 💰 And more…

MARKET WATCH ⚖️

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

BITCOIN ETF OPTIONS APPROVED 🏦

BREAKING: SEC approves BlackRock's spot bitcoin ETF options listing

Here’s some big news…

The SEC has approved BlackRock's proposal to list and trade options for its Bitcoin ETF.

As it stands, BlackRock’s ETF is the only Bitcoin ETF that options trading has been approved for.

Grayscale and Bitwise are still waiting on their approvals.

Here’s what ETF analyst Eric Balchunas had to say:

But there’s a catch.

These options aren’t fully approved just yet.

We still have to wait on the OCC and CFTC to approve them before they can go live.

As Eric Balchunas explains:

But what exactly are these ETF options? 🤔

Well here’s a quick rundown:

A stock option (also known as an equity option), gives an investor the right—but not the obligation—to buy or sell a stock at an agreed-upon price and date.

There are two types of options: puts, which is a bet that a stock will fall, or calls, which is a bet that a stock will rise.

Options trading can get quite complex. But if you’d liked to learn more we recommend checking out this Investopedia article.

We also recommend checking out this short vid from Fred Krueger for an explanation on why these options will positively impact Bitcoin.

In short - this is BULLISH for Bitcoin.

Analysts are expecting these options to be insanely popular with Wall Street.

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BITCOIN MATTERS TO BLACKROCK 🪨

BlackRock just released a 9-page report on Bitcoin.

The crazy thing?

It’s unbelievably bullish.

If you don’t know BlackRock, they pretty much own the world. 🌎

BlackRock is the largest asset manager in the world with $10.65 trillion in assets under management. (also the largest Bitcoin ETF issuer)

BlackRock essentially has a stake in every major company you know. They’re arguably the most influential institution on Wall Street.

When BlackRock talks, everyone listens.

To kick off the report, BlackRock outlined 3 reasons why Bitcoin matters:

1. Bitcoin Has a Hard-Coded Supply Cap

Bitcoin’s 21 million supply cap means that it cannot be debased.

2. A Global, Digital Asset

Bitcoin is the first global, digitally native asset. It can be transported anywhere in the world for virtually zero-cost. The world has never had an asset like this before.

3. Decentralized & Permissionless

Bitcoin’s decentralization makes it the world’s first truly open-access monetary system.

BlackRock then showcased Bitcoin’s incredible trajectory, despite its volatility:

BlackRock finished by showing that Bitcoin has a very low correlation with other asset classes:

This is a BIG deal.

Modern Portfolio Theory shows that investors can increase the risk-adjusted returns of their portfolios by combining uncorrelated assets.

This means it’s a no-brainer to add an allocation of Bitcoin to your portfolio. As it’s uncorrelated with other assets, you increase returns without increasing risk.

Safe to say: BlackRock gets Bitcoin.

They have arrived and are slowly but surely onboarding the big players. 🪨

RIGHT ON TRACK 🚂

We’ll keep this part short and sweet for your Monday morning.

We all know that Bitcoin goes through a 4-year cycle.

These cycles often closely track each other…

Especially when you compare price performance from cycle lows, which is what we’ll be doing today.

And yes… We know that history isn’t a perfect indicator of future performance but it’s still a valuable tool to look at.

Here’s how to interpret the chart above:

• 🟡 2017 cycle

• 🟠 2021 cycle

• 🔴 2024 cycle

• ⬛️ Black areas indicate all-time highs

It’s kinda scary how close this cycle has tracked the 2017 and 2021 cycles.

But here’s the thing…

Right now, this cycle is actually outperforming prior cycles. (which is nuts to think about)

And if you take a look at the chart again, that vertical dashed line is where the fun really begins.

We are currently ~30 days out from that dashed line.

Historically, that’s when prices have shot up exponentially. 🚀

Not long to go now…

CRACKING CRYPTO 🥜

VanEck reports surge in Bitcoin interest amid growing institutional, sovereign adoption. Despite a slump in on-chain activity, Bitcoin adoption is faster than last year, fueled by new key factors.

Coinbase chief legal officer responds to cbBTC service terms fears. Coinbase's chief legal officer Paul Grewal has responded to fears regarding the exchange's cbBTC customer service policy and reimbursement.

Bitcoin Price and Hashrate Divergence May Set the Scene for a Potential Rally, Historical Data Shows. September's counter-seasonal price trend has already started to show signs of this divergence trend helping BTC.

VP Harris says she'll encourage crypto business while protecting consumers at Wall Street fundraiser. Harris also plans to roll out new economic proposals this upcoming week, according to a report from Reuters.

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: C) XRP 🥳

XRP first launched in June 2012.

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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.