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- 🥜 Don't F*ck This Up
🥜 Don't F*ck This Up
PLUS: Grayscale mini ETF
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What we’ve cooked up for you today…
🏦 Grayscale to lower fees
💸 Don’t f*ck this up
⚖️ Ethereum exchange balances
💰 And more…
MARKET WATCH ⚖️
Prices as at 6:45am ET
Only the top 20 coins measured by market cap feature in this section
GRAYSCALE TO LOWER FEES 🏦
BREAKING: Grayscale’s Mini Bitcoin ETF ‘cheap’ fees are ‘hypothetical’ says ETF analyst
Grayscale's new mini Bitcoin ETF will be 10x cheaper than their current ETF (GBTC).
If you’re unsure how a “mini ETF” works, checkout our previous breakdown here.
“Wow, $GBTC’s mini-me $BTC will have a fee of 15bps, which means Grayscale will have the cheapest btc ETF in the market🔥🔥”
This would make it the cheapest Bitcoin ETF on the market with fees set at 0.15%, closely followed by Franklin Templeton at 0.19%.
(Currently, GTBC’s fees are at 1.5%)
BUT, Eric Balchunas mentioned that this is only a temporary fee…
They had to include something in this filing and decided to choose 0.15%.
It’s possible that it could change by the time this ETF launches.
As it stands, Grayscale has lost 315,000 Bitcoin since launch. Something needed to change.
It’ll be interesting to see if this finally puts an end to the outflows.
(It should though… That’s the whole point of launching this mini ETF…)
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THE DON’T F*CK THIS UP THESIS 💸
Crypto is the greatest gift we’ve ever been given.
Here’s how to not f*ck it up.
Raoul is a veteran in both crypto & financial markets, having first bought Bitcoin 10+ years ago.
In his latest interview, Raoul broke down his simple framework on how to make the most out of this bull market.
Raoul has appropriately named it the “Don’t F*ck This Up” thesis.
“This [crypto] is the biggest macro opportunity of all time.”
Raoul believes that crypto is an “alien” asset class for 3 reasons:
Fastest adoption of any technology the world has ever seen - except for AI
Fastest accumulation in value of any asset class in history
Largest price appreciation in returns of any asset class in history
Here’s what Raoul means by “Don’t f*ck this up”:
Own the core assets
Raoul is a huge advocate for putting at least 90% of your portfolio into the core crypto assets - Bitcoin, Ethereum & Solana.
“Bitcoin, Ethereum & Solana have provable network effects. Put 90% of your assets here. If you do an equally weighted basket, you’ll do very well.”
But what do you do with the remaining 10% of your portfolio? 🤔
That’s where you satisfy those inner degen cravings…
We’re talking about sh*tcoins here.
But be prepared to lose it all with these picks:
(Even though you saw that 15 year old kid who turned $100 into $1,000,000 trading memecoins… You’re not seeing the thousands of others who lost it all)
“Who knows… You might get the 100x… You probably won’t…”
Setting your portfolio up this way, allows you to participate in the madness that is altcoin mania, but the most you can lose is only 10%.
Whereas the rest of your portfolio will 5x for example.
(if you allocate to the core assets)
This is only one part of Raoul’s “Don’t F*ck This Up” thesis.
If you’d like to hear Raoul breakdown the rest of this framework, checkout our interview with him from earlier in the year.
Don’t overthink this bull run. 🐂
Put the majority of your portfolio into the core assets and you’ll do extremely well.
Simple. 🌱
ETHEREUM EXCHANGE BALANCES ⚖️
Today we’ll be taking a look at the amount of Ethereum available for sale on exchanges.
This metric is super simple but extremely useful.
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 12,840,422 ETH available for sale on exchanges.
That’s ~10.73% of the entire circulating supply. And it effectively puts this metric at an all time low.
In fact, as a percentage there’s even less Ethereum on exchanges than Bitcoin.
That’s insane, considering Bitcoin’s exchange balances are already exceptionally low.
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 eventually approved.
CRACKING CRYPTO 🥜
Bitcoin Whales Bought $1.2B BTC Amid the Price Dip, Fueling the Quick Rebound. IntoTheBlock data shows that the largest bitcoin investors added nearly 20,000 BTC to their holdings.
Grayscale’s Mini Bitcoin ETF ‘cheap’ fees are ‘hypothetical’. Grayscale has proposed that the fees for its Mini Bitcoin ETF will be about ten times lower than GBTC fees, but analysts have doubts.
JP Morgan CEO calls Bitcoin ‘Ponzi Scheme’ despite serving as Authorized Participant for BlackRock ETF. JP Morgan CEO Jamie Dimon has once again expressed doubts about Bitcoin's utility and legitimacy as a form of money.
SEC amends case against Justin Sun to establish jurisdiction. The Securities and Exchange Commission amended its complaint against Tron founder Justin Sun on Thursday evening.
WHAT WE’RE READING 📚
Want to get even smarter? Check these out.
p.s. all completely FREE
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”)
When was Coinbase founded? |
MEME CORNER 😂
Because what would the crypto world be without its share of memes?
Trivia Answer: D) 2012 🥳
Coinbase, one of the largest cryptocurrency exchanges in the world, was founded in 2012 by Brian Armstrong and Fred Ehrsam.
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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.
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