GM to all you crypto nuts. Crypto Nutshell #405 bracin’ the storm… 🌩️ 🥜

We're the crypto newsletter that's more thrilling than surviving an alien invasion... 👽💥

What we’ve cooked up for you today…

• 🤑 Now this is big

• 🚨 Emergency market update

• 📈 ETF outflows picking up

• 💰 And more…

MARKET WATCH ⚖️

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

NOW THIS IS BIG 🤑

BREAKING: Morgan Stanley to offer Bitcoin ETFs to wealthy clients

With prices currently down all across the board…

We have some good news to lift those spirits. 😄 

Morgan Stanley (largest wealth manager in the US) is set to offer the Bitcoin ETFs to their clients!

This is a HUGE breakthrough and something we have been waiting for since the launch of the Bitcoin ETFs.

CNBC has reported that Morgan Stanley will be allowing their 15,000+ financial advisors to sell shares of BlackRock's IBIT and Fidelity's FBTC starting next Wednesday.

Morgan Stanley made this move in response to increased demand from clients.

However…

The bank is still taking caution, these are the types of clients that are eligible:

• Net worth of at least $1.5 million

• Aggressive risk tolerance

• The desire to make speculative investments

• Only available for taxable brokerage accounts not retirement accounts

This is the moment that the Bitcoin ETFs have been waiting for.

Nate Geraci, president of ETFstore, had this to say:

Morgan Stanley is only the first.

Here we go. 😎

BECOME A BETTER CRYPTO INVESTOR 🧠

We write the Crypto Nutshell every single day to keep you informed.

However, crypto is such an life-changing opportunity, we know we have to do more.

That’s why we have the official Crypto Nutshell Youtube channel.

All so you can dominate crypto in 2024 & 2025. 🫵

If you want to become an even better crypto investor, head on over here & subscribe. Completely free, as always.

EMERGENCY MARKET UPDATE 🚨

Bitcoin & Ethereum have been consolidating for the last 4 months.

But this is when things get nuts…

That’s the latest from Crypto Nutshell’s very own Jamin Currie.

In our latest YouTube video (you should really subscribe if you haven’t already…) Jamin broke down exactly what’s going on with the market right now.

And why you should be bullish for the rest of August…

First things first, Jamin broke down recent price action.

We’ve been chopping around the $60,000 to $70,000 price range for what feels like an eternity. 😴 

But if we take a look back to the launch of the Bitcoin ETFs something very interesting happened.

Bitcoin initially crashed 20% before rallying over 90% in the following two months.

Jamin explains:

And Ethereum’s price action has been extremely similar.

ETH rallied heavily and since then has been trading within the $3,000 to $4,000 range.

The purple marker on the chart above indicates the launch of the Ethereum ETFs.

And so far, that has also been playing out extremely similar to Bitcoin.

Since the launch, Ethereum has dipped by 18%.

Is history repeating itself?

Possibly…

Here’s what Jamin has to say on recent price movements:

But, what’s been keeping Bitcoin in this range?

1. US unemployment numbers coming in higher than expected - recession looming

2. The Fed has left interest rates steady - rate cuts are likely coming in September

3. Mt. Gox began distributing coins back to creditors in July (~$9 billion worth of BTC)

4. German government sold off ~50,000 BTC

5. Miner Capitulation - Inefficient miners closing down operations and selling Bitcoin

6. US election - markets hate uncertainty, and this uncertainty has extended to crypto regulations

So as you can see there’s been quite a lot of bearish events holding Bitcoin and crypto back recently.

But there’s some good news here…

Mt. Gox is roughly 80% through it’s distribution process and Germany has completely sold off all of its Bitcoin.

And according to on-chain analyst Willy Woo, Miner capitulation is now over!

Plus the Fed is likely to begin rate cuts in September of this year (we broke this down in yesterday’s newsletter).

So that’s a summary of current market conditions.

And to find out why Jamin is bullish for the rest of August you’ll need to watch the full video… (sorry, we had to do it)

Trust us, it’s worth it.

Click here to watch the full video.

ETF OUTFLOWS PICKING UP 📈

What’s going on with the Ethereum ETFs?

Well, at first glance it may look like a rough launch.

In total, the Ethereum ETFs have seen net outflows of $511.2 million. 🥹 

But…

If we exclude Grayscale from the equation, they’ve actually seen net inflows of $1.6 billion.

That $1.6 billion would put the Ethereum ETFs in the top 5 ETF launches this year.

Any guesses on what ETFs take out the top 4 spots?

That’s right…

All 4 of them are spot Bitcoin ETFs. (based on inflows)

On Friday, the Ethereum ETFs saw net outflows of $54.3 million.

Friday also wasn’t a great day for the Bitcoin ETFs…

In fact it was the single biggest outflow day since May 1 (over 60 trading days ago).

And the fourth largest outflow day of all time, with $237.4 million exiting the Bitcoin ETFs.

Grayscale's recently-launched Bitcoin Mini Trust was one of only two ETFs to log an inflow, with $9.9 million.

BlackRock’s IBIT also saw $42.8 million in net inflows.

Speaking of Grayscale’s recently launched mini Bitcoin ETF…

Here’s a crazy stat for you.

It’s already in the top 30 new ETF launches this year based on inflows.

That’s over 350 ETFs and it launched on Tuesday…

That’s actually ridiculous.

The numbers that the Bitcoin ETFs have put up are truly insane.

The demand is clearly there.

CRACKING CRYPTO 🥜

Trump touts Bitcoin’s potential to ‘wipe out’ US national debt, says its 'a very big thing'. Trump praised Bitcoin in a recent interview, highlighting its massive growth and its potential to help the US tackle its national debt.

Crypto leaders, Harris campaign officials to hold roundtable. Crypto executives will meet with White House aides and Representative Ro Khanna “next week” to discuss policy changes.

Bitcoin Slumps Below $63K, Altcoins Rekt, as Crypto Succumbs to Risk Off Mood. Likely also hitting prices was the movement of nearly $2 billion of BTC and ETH in wallets linked with Genesis Trading.

US spot bitcoin ETFs see biggest single-day outflow in 90 days. Ethereum ETFs also logged a modest net outflow, resulting in the lowest total net asset value for those funds since they started trading.

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

• Seven Point Sunday (link) - Learn to build your career every Sunday

• Bullseye Trades (link) - Daily stock market tips

• 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) 4 years 🥳

The Bitcoin halving takes place one every 210,000 blocks, and at 10 minutes per block that works out to be roughly once every 4 years

GET IN FRONT OF 64,000+ CRYPTO INVESTORS

Advertise with Crypto Nutshell to get your product or brand in front of the crème de la crème of crypto investors. Crypto Nutshell readers are high-income earners who are always looking for unique or interesting offers.

Get in touch today.😎

HOW DID WE DO? 🤷

We read every comment submitted in this poll and love to hear what you guys have to say. 😁 (bonus points for suggestions 🍪)

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.