Today’s edition is brought to you by Polymarket

The worlds largest prediction market is your ultimate source for unbiased, real-time election forecasts.

GM to all you crypto nuts. Crypto Nutshell #467 takin’ stock… 🎥 🥜

We're the crypto newsletter that's more gripping than undercover cops and criminals playing a deadly game of deception... 🕵️‍♂️💥

What we’ve cooked up for you today…

• 🏦 SEC approves ETF options

• 🏜️ No one’s here…

• 📈 All-time high

• 💰 And more…

What’s in the Crypto Nutshell Portfolio?

SEC APPROVES ETF OPTIONS 🏦 

BREAKING: SEC gives NYSE and Cboe the go-ahead to list options trading for multiple spot bitcoin ETFs

The SEC just gave the green light to both the NYSE and Cboe to list and trade Bitcoin ETF options. 🥳 

And for those of you having a little deja vu with that sentence…

The SEC did in fact approve Bitcoin ETF options a couple of weeks ago, but that was for the Nasdaq.

As ETF analyst Eric Balchunas puts it:

According to a memo published by the SEC:

Now options are a little bit more complex than trading spot ETFs, but here’s a quick explanation of how they work:

Options are derivatives that allow the purchase or sale of an underlying asset at a predetermined price on or before an agreed upon date.

And if you’d like to dive deeper into options, checkout this video.

But the main point is that many market analysts are expecting these ETF options to be widely popular with institutional investors.

Meaning: number goes up…

However, it’s still unclear when these ETF options will launch.

As Eric Balchunas explains:

DON’T TRUST THE POLLS, TRUST THE MARKETS 🤑 

Prediction markets have taken the crypto world by storm, and one stands above the rest…

Polymarket is the world's largest prediction market and your ultimate source for unbiased, real-time election forecasts. 📰

But what sets Polymarket apart is its accuracy.

Here’s a quick taste of what Polymarket traders have nailed so far:

• Biden dropping out of the election

• Kamala Harris’ nomination

• VP running mates

• And countless other real-world events

Need even more proof? Here’s one for you…

When the Fed cut interest rates by 0.50%, 92% of economists had predicted a 0.25% cut. 😢

But 52% of Polymarket traders knew better and got it right. 😃

For data-driven insights you can trust, Polymarket is where the truth comes to light.

Don’t miss out—click here to see the current election odds.

*Forecasts available worldwide, trading not available in the U.S. and other restricted jurisdictions.

NO ONE’S HERE… 🏜️

Macroeconomic expert Raoul Pal is shocked.

Literally no one has any interest in crypto.

Yet, we’re knocking on the door of all-time highs… 🚪

Raoul Pal is a macroeconomic expert with one of the best investing track records in the space.

In his latest tweet, he pointed out something surprising: No one’s paying attention.

Anecdotally, this is quite surprising.

We’re virtually at all-time highs but no one’s here?

But the data backs up Raoul’s experience:

Google interest for ‘Bitcoin’ is at 4-year lows…

Although this may seem bearish, it’s actually incredibly bullish.

Bitcoin & crypto is this high and ‘normies’ aren’t paying attention.

There’s only one takeaway here:

We’ve seen nothing yet.

Crypto analyst TechDev put it well:

ALL-TIME HIGH 📈

Yesterday we broke down the amount of wallets that hold at least some Bitcoin.

Today we’re going to zoom out a little and look at the crypto industry as a whole.

Venture Capital firm a16z recently published their “State of Crypto Report 2024”.

And in that report are some very interesting findings…

The most notable being that the amount of monthly active crypto users hit an all-time high of 226 million in September. 🥳 

According to a16z, this figure has tripled since 2023.

And it’s once again outpacing the growth of early internet adoption.

That’s a pretty big deal…

But where is this explosion in activity coming from?

Well, a16z split active crypto addresses into two categories:

• Ethereum Based chains: 52 million

• Non-Ethereum Based Chains: 174 million

Solana is the most active Non-Ethereum based chain with 100 million users.

Whilst Base is the most active Ethereum based chain with 22 million users.

It’s also important to keep in mind that one address does not necessarily correspond to one person.

Crypto users typically spread their assets out between many different wallets.

But this doesn’t invalidate the crypto users vs internet users metric we showed earlier.

With the internet, people can also have many different devices connected to it at once.

All in all, growth like this in the amount of monthly active users is hugely bullish for crypto. 🐂

CRACKING CRYPTO 🥜

Michael Saylor urges corporations to adopt Bitcoin for treasury strategy, predicts $13 million price within 21 years. Saylor advocates for a "capital revolution," urging corporations to leverage Bitcoin for significant gains and inflation protection.

Elon Musk discusses DOGE cabinet position, economics at Trump rally. Musk’s rhetoric painted a dire picture of the US economy while pitching his own recovery plan.

Republican Sweep in U.S. Election Would be the Most Bullish Outcome for Coinbase and the Crypto Market. Republican control of the Senate would be key to passing bills such as FIT21 and appointing pro-crypto agency leaders said Citi.

BlackRock pitches Binance, OKX and Deribit on using its BUIDL token for derivatives trading. The Wall Street giant is "pushing to have its money-market digital coin more widely used as collateral for crypto derivatives trades."

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) - Twice weekly Bitcoin news

• 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: C) Gavin Wood 🥳

The Yellow Paper is a formal definition of the Ethereum protocol, originally by Gavin Wood

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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.