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GM to all of you nutcases. It’s Crypto Nutshell #696 gone fishin’… 🎣🥜

We're the crypto newsletter that's more mind-bending than a scientist stuck in a time loop inside his own invention... ⏳🔧

What we’ve cooked up for you today…

• 🏦 Ethereum is making a statement

• 🐐 Don’t fade Tom Lee

• ⚡️ Supply shock

• 💰 And more…

What’s in the Crypto Nutshell Portfolio?

ETHEREUM IS MAKING A STATEMENT 🏦

BREAKING: Ether ETFs capture 10x more inflows than Bitcoin in 5 days

Wall Street’s got a new favourite…

Over the past five trading days, spot Ether ETFs pulled in $1.83 billion.

That’s more than 10x the $171 million that flowed into Bitcoin funds over the same period.

On Wednesday alone, nine ETH ETFs raked in $307.2M, while 11 Bitcoin ETFs managed just $81.1M.

That performance gap is showing up in price action too.

ETH rebounded 5% from its Tuesday low, compared to just 2.8% for Bitcoin.

Ethereum investor Anthony Sassano summed it up bluntly:

The surge puts Ether ETFs close to $10 billion of inflows since July and $13.6 billion total since launch.

By contrast, Bitcoin ETFs - trading for nearly twice as long - have $54B in aggregate inflows, but the momentum has clearly tilted.

Why?

Ethereum is fast becoming Wall Street’s favourite play.

The GENIUS Act stablecoin legislation passed in July spotlighted ETH’s dominance in stablecoins and tokenized real-world assets.

“It’s very much what I call the Wall Street token” said VanEck CEO Jan van Eck.

And institutional adoption is backing it up.

Bloomberg analyst James Seyffart noted that investment advisors are the largest ETH ETF holders with $1.3B in exposure, led by Goldman Sachs at $712M.

The bottom line: Bitcoin may be the OG, but Ethereum is now stealing the institutional spotlight.

With flows accelerating, legislation falling in its favour, and treasuries piling in, ETH is cementing its role as the Wall Street token. 🚀

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DON’T FADE TOM LEE 🐐

Back in 2017, Tom Lee was going on CNBC when Bitcoin was trading at just $1,000 and saying it could 100x to $100,000.

Here’s the proof.

Most people laughed.

Fast forward 7 years… no one’s laughing anymore.

Now in 2025, Tom Lee is doing the exact same thing with Ethereum. 

Nothing has changed - the man is calling for explosive upside while everyone else hesitates.

Tom Lee isn’t just talking the talk: last week his Ethereum treasury company announced a $20 billion raise to keep stacking ETH.

We wouldn’t bet against him. 🎲🎲

SUPPLY SHOCK ⚡️

Let’s keep this Ethereum talk going…

Today we’ll be taking a look at it’s supply side dynamics.

Today we’ll be focusing on the amount of Ethereum currently being staked.

Quick Note: Ethereum staking involves locking up ETH to support the blockchain’s security. In return, users earn rewards for staking.

If you’d like to learn more about staking, check out this article.

Staked ETH just won’t quit.

As of today, 35,713,229 ETH is locked up. That’s +1.7M ETH added this year alone — worth nearly $7.8B at current prices.

But here’s the real kicker: 29.5% of all ETH is now staked.

Almost a third of the entire supply pulled out of circulation - parked by long-term holders with zero intention of selling.

And this comes just days after Ethereum set a new all-time high.

We’ve been saying it for months: this is a supply shock playing out in real time. 🚀

CRACKING CRYPTO 🥜

Japan-based Metaplanet aims to raise $880M from overseas investors for Bitcoin buying spree. Japan-based Metaplanet's new funding strategy aims to cement its role as a major Bitcoin holder and transform its financial model.

BlackRock Bitcoin ETF holdings overtake Coinbase, Binance; ETH may be next. ETH held in the BlackRock spot Ether ETF is on the verge of flipping Coinbase, as declining inflows to centralized exchanges highlight tightening supply for Bitcoin and ETH.

Google’s Upcoming L1 Blockchain for Finance: How It Compares to L1s From Stripe and Circle. Rich Widmann, head of Web3 strategy at Google, outlined on Tuesday how his firm's upcoming layer-1 blockchain for finance differs from Stripe's Temp and Circle's Arc.

Polymarket bettors lean towards Bitcoin below $100,000 by 2026, analysts weigh chances. Online gamblers are betting Bitcoin will dip below $100,000 while analysts try to understand how it could happen.

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) - Daily Bitcoin news

• Techpresso (link) - Daily tech news and insights

• 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: To determine liquidation risk 🥳

If your health factor falls below 1.0 on Aave, your collateral can be liquidated to repay debt. ⚠️

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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.