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GM to all 58,219 of you. Crypto Nutshell #281 hoppin’ in. 🐰 🥜

We’re the crypto newsletter that's as mind-bending as a journey through a futuristic cityscape where dreams and reality blur together... 🌆 💭 

What we’ve cooked up for you today…

• 🏆 Bitcoin ETF milestone

• 🏦 You can’t ignore this

• ⚖️ Ethereum exchange balance

• 💰 And more…

MARKET WATCH ⚖️

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

BITCOIN ETF MILESTONE 🏆

BREAKING: Newly launched Bitcoin ETFs have purchased more than 500,000 Bitcoin

The Bitcoin ETFs have bounced back after a poor week of net outflows.

Week 12 saw the ETFs purchase 12,131 Bitcoin.

Lets take a look at a couple of charts from Twitter user @HODL15Capital.

More importantly, the ETFs have now purchased over 500,000 Bitcoin.

And they’ve only been trading for 54 days.

That’s crazy.

(and from what most analysts are saying, we haven’t even started yet…)

If you include Grayscale into the mix, this brings the ETFs total holdings to 835,000 Bitcoin.

That’s almost 4% of all Bitcoin that will ever exist. 🤯

Due to the strong inflows from the ETFs, Bitcoin’s price once again broke through $70,000.

Will this week be the week that Bitcoin has a crack at $80,000? 🤔

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YOU CAN’T IGNORE THIS 🏦

They can’t ignore it anymore.

Bitcoin is the best performing asset EVER.

That’s the latest message out from Larry Lepard.

For those of you who don’t know Larry Lepard, he’s:

• Founder & Managing Partner of Equity Management Associates

• Graduated from Harvard, with 40 years of finance experience.

• Huge sound money advocate (money that cannot be printed)

In hist latest interview, Larry explained that investment managers have one job…

And that’s to make their clients money:

It wouldn’t make sense for investment managers (who are supposed to deliver performance) to ignore the best performing asset ever right?

Continuing on, Larry also explained that institutions are slow moving.

Right now, Morgan Stanley don’t offer the Bitcoin ETFs to their clients.

But they will… eventually…

They have to.

ETHEREUM EXCHANGE BALANCE ⚖️

Two days ago we took a look at the amount of Bitcoin available for sale on exchanges.

So it’s only fair we check in on Ethereum’s exchange balance today.

As always, here’s how to interpret the chart:

• 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 only 13,273,456 ETH available for sale on exchanges.

That’s ~11.10% of the entire circulating supply. (less than the percentage of Bitcoin on exchanges)

This effectively puts this metric at an all-time low.

And it just goes to show how good Ethereum’s supply dynamics are right now.🐂

Things are looking real good for Ethereum.

Even better if (when) the ETFs are approved.

CRACKING CRYPTO 🥜

U.K. court freezes £6M of Craig Wright’s assets amid Bitcoin creator claim. After debunking his claim as Bitcoin’s creator, a U.K. court freezes £6 million of Craig Wright’s assets. COPA sued Wright over copyright disputes.

CFTC's Caroline Pham says KuCoin charges may infringe on SEC authority. CFTC Commissioner Caroline Pham said that her agency's charges against KuCoin may infringe on the duties of the SEC.

What the Coinbase dismissal denial says about staking and securities. Here’s a breakdown of Judge Katherine Polk Failla’s findings in the SEC’s case against Coinbase Wednesday.

WHAT WE’RE READING 📚

Want to get even smarter? Check these out.

p.s. all completely FREE

• Bitcoin Breakdown (link) - Weekly Bitcoin recap

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

• Crypto Pragmatist (link) - Actionable alpha in 5 minutes

• Techpresso (link) - Get smarter about tech in 5 minutes

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

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) “Meme coin” or altcoin 🥳 

Dogecoin is considered both the first "meme coin", and more specifically the first "dog coin".

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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.