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- 🥜 ETH supply shock
🥜 ETH supply shock
PLUS: Institutions ramp up
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GM to all of you nutcases. It’s Crypto Nutshell #688 puttin’ out fires… 🧯🥜
We're the crypto newsletter that's more exhilarating than an archaeologist dodging traps to steal a golden idol... 🏺🪙
What we’ve cooked up for you today…
🏦 The big dogs are here
⚡ Ethereum Supply Shock
📉 Profit taking?
💰 And more…
Prices as at 4:10am ET
THE BIG DOGS ARE HERE🏦
BREAKING: Brevan Howard, Goldman Sachs and Harvard Lead Billions in Bitcoin ETF Buying Spree
The world’s biggest institutions aren’t just testing Bitcoin anymore.
They’re going all in.
Fresh SEC filings reveal a full-scale buying spree in Q2.
Brevan Howard nearly doubled its stake in BlackRock’s iShares Bitcoin Trust, now holding $2.6 billion worth.
Goldman Sachs ramped up too - $3.3 billion across IBIT and Fidelity’s FBTC, plus another half a billion in BlackRock’s Ethereum ETF.
And this isn’t just client money being parked.
Brevan Howard runs a full crypto arm, BH Digital, with billions already spread across DeFi and blockchain infrastructure. That’s a long-term bet on the entire ecosystem.
Harvard isn’t sitting out either.
The university’s endowment now holds $1.9 billion in IBIT, making Bitcoin a direct play for one of the most influential funds on the planet.
Wells Fargo nearly quadrupled its holdings.
Cantor Fitzgerald lifted its positions in ETFs and doubled down on crypto-adjacent stocks like Coinbase, Strategy, and Robinhood.
Even Jane Street, one of the most aggressive trading firms on Wall Street, revealed a $1.46 billion stake in IBIT. That makes it their single biggest holding after Tesla.
And the momentum isn’t just American.
Norway’s $2 trillion sovereign wealth fund grew its indirect Bitcoin exposure by 192% year-over-year.
It now holds the equivalent of 7,161 BTC through companies like Strategy, Coinbase, and Metaplanet.
At today’s price of $117,500, that’s around $841 million.
Still less than 0.05% of the fund. But the trendline is undeniable.
Every cycle has its driver.
In 2017, it was pure retail mania during the ICO boom.
In 2021, it was stimulus-fuelled retail euphoria - meme coins and NFTs - with Tesla and MicroStrategy adding corporate fuel to the fire.
Now, in 2025, the torch has passed.
This cycle belongs to institutions and sovereign wealth funds.
When Goldman, Harvard, and Norway are quietly stacking billions…
That’s not a headline grab.
That’s a structural shift. 🚀
From Italy to a Nasdaq Reservation
How do you follow record-setting success? Get stronger. Take Pacaso. Their real estate co-ownership tech set records in Paris and London in 2024. No surprise. Coldwell Banker says 40% of wealthy Americans plan to buy abroad within a year. So adding 10+ new international destinations, including three in Italy, is big. They even reserved the Nasdaq ticker PCSO.
Paid advertisement for Pacaso’s Regulation A offering. Read the offering circular at invest.pacaso.com. Reserving a ticker symbol is not a guarantee that the company will go public. Listing on the NASDAQ is subject to approvals.
ETHEREUM SUPPLY SHOCK ⚡
Anthony Sassano, a crypto OG, multi-cycle veteran, and founder of The Daily Gwei, just dropped some staggering numbers.
His conclusion?
Ethereum is going much, much higher.
Over the last 30 days:
Net new ETH issued: 74,000 ETH
ETH bought by treasury companies: 1.8 million ETH
ETH bought by ETFs: 1.7 million ETH
That means 47x more ETH was bought than issued.
The ETH supply crunch isn’t coming…
It’s already here.
And this chart says it all:
Treasury companies and ETFs are scooping up Ethereum at an unprecedented pace.
Supply is collapsing right in front of us.
Would you bet against this chart?
Ethereum is going much, much higher.
P.S. In our latest YouTube video, we broke down why Wall Street legend Tom Lee believes Ethereum could realistically 120x in the long term - just like Bitcoin did.
PROFIT TAKING? 📉
Time for a check-in on the Long/Short-Term Holder Threshold.
Here’s how this metric works:
🔴 Short-Term Holders (STHs): Coins held for less than 155 days
🔵 Long-Term Holders (LTHs): Coins held for more than 155 days
🟥 Short-Term Holder Cost Basis: All coins purchased in this price range are STHs
🟦 Long-Term Holder Cost Basis: All coins purchased in this price range are LTHs
This metric is powerful because it shows exactly what price range long and short term holders bought their Bitcoin at. 🔍
The new key cutoff date is March 15, 2025 - when Bitcoin was hovering near $84K.
Anything bought before that? Long-term (LTH).
After? Short-term (STH).
Here’s the breakdown:
LTHs: 14.51M BTC → 72.9% of supply
STHs: 2.49M BTC → 12.5% of supply
Over the past 90 days, a net 20,060 BTC flowed into long-term hands - clear conviction from holders unwilling to blink.
But last week flipped the script: about 41,868 BTC left long-term wallets, almost certainly profit-taking as Bitcoin tagged new all-time highs.
The takeaway?
Sure, some holders are cashing in.
But the foundation hasn’t cracked. Conviction is alive and well - and the strong hands aren’t going anywhere. 💪
CRACKING CRYPTO 🥜
100 days over $100k and nobody cares: Why Bitcoin’s bull run feels lonely. Despite Bitcoin’s record run, 100 days above $100k and battering all-time highs, retail remains strikingly absent from this Bitcoin bull run.
Michael Saylor signals Strategy will buy the Bitcoin dip. Strategy co-founder Michael Saylor hinted at an impending Bitcoin buy on social media, marking the second purchase in August by the company if completed.
Volatility Meltdown Everywhere as Powell's Jackson Hole Speech Looms. The decline in volatility across asset classes likely reflects expectations for easy monetary policy and economic stability.
US spot Ethereum, Bitcoin ETFs log modest outflows following record volume week. Spot Ethereum ETFs in the US logged their highest weekly inflows and volume on record last week, with BlackRock's ETHA taking most of the pie.
WHAT WE’RE READING 📚
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Raremints (link) - Daily crypto news
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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”)
Unlike Bitcoin’s fixed cap, Solana has an inflationary model. What is Solana’s long-term annual inflation rate once it stabilizes? |
MEME CORNER 😂
Because what would the crypto world be without its share of memes?
Trivia Answer: 1.5% 🥳
Solana’s inflation starts high but gradually decays until it reaches 1.5% annually, where it stays to support validators. ⚡
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