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- 🥜 The ETFs are unstoppable
🥜 The ETFs are unstoppable
PLUS: Major inflows
Today’s edition is brought to you by RAREMINTS - discover your next 10x crypto opportunity!
GM to all 48,630 of you. Crypto Nutshell #255 gallopin’ by. 🦄 🥜
We’re the crypto newsletter that's as exhilarating as a group of street racers pulling off high-stakes heists... 🚗💨
What we’ve cooked up for you today…
💪 ETFs are unstoppable
🧠 Beating Bitcoin with A.I
🌊 Big flows are back
💰 And more…
MARKET WATCH ⚖️
Prices as at 5:00am ET
Only the top 20 coins measured by market cap feature in this section
ETFS ARE UNSTOPPABLE 💪
BREAKING: BlackRock and Fidelity ETFs both had huge days with over $400 million in inflows
After the weekend break, the Bitcoin ETFS are back.
AND it was another huge day with net inflows of $588.4 million.
🥇 BlackRock (IBIT): $420.1 million
🥈 Fidelity (FBTC): $404.6 million
🥉 Bitwise (BITB): $90.9 million
Also Grayscale’s outflows were considerable at $368 million.
However, Fidelity more than made up for these outflows on their own.
Checkout the full Bitcoin ETF flow table below.
ETF analyst Eric Balchunas also pointed out that yesterday was the second largest day in terms of trading volume.
The ETFs did ~$5.5 billion in trade volume with BlackRock accounting for $2.4 billion of that.
Bitcoin also briefly surpassed the market cap of silver yesterday as the price rose to ~$68,770 (sooooooo close to an all-time high).
According to Binance, Bitcoin’s all-time high is $68,789.63
If last weeks price action is anything to go by…
Bitcoin’s looking like it’ll easily break through it’s all-time high this week.
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BEATING BITCOIN WITH A.I 🧠
Bitcoin is the best performing asset of the past 10 years.
To try and out-return Bitcoin?
That would be suicide.
But what if you could harness the power of artificial intelligence to help you?
That’s exactly what crypto fund founder & CEO, Maximilian Pace, is doing.
Animus Results vs. Bitcoin
Maximilian Pace is the founder & CEO of Animus Technologies.
Animus Technologies is a U.S crypto fund which is combining A.I & crypto with one goal in mind:
Beat Bitcoin.
Here’s how they’ve been going so far:
Animus Technologies so far has crushed it, returning +345.57% vs Bitcoin +119.05%
Won Bitcoin Magazines ‘Bitcoin Alpha Competition’, receiving a $1 million dollar prize
Uses artificial intelligence & sentiment analysis to out-return Bitcoin on an outright & risk adjusted basis
Although we can’t break down our full interview, here are 2 highlights:
1. Institutional FOMO is at all-time highs
Animus Technologies deals with both institutional & retail investors.
Which means Max is an expert on the levels of interest institutions have for crypto.
Right now?
FOMO is at all time highs.
“In terms of interest? There is no doubt that interest is quite frankly at all-time highs. Especially at the institutional level.”
2. Bitcoin & Ethereum Predictions
Within the interview, Max ended up dropping his Bitcoin & Ethereum price predictions.
“It’s almost inevitable that you see Bitcoin & ETH at multiples higher than their previous all-time highs… I wouldn’t be surprised to see Bitcoin at several hundred thousands and ETH well above $10,000.”
For the rest of the insights - you’ll have to check out the full interview here.
We’d highly recommend giving it a full watch.
Dropping a like & subscribe would be hugely appreciated as well! 🫡
BIG FLOWS ARE BACK 🌊
Time for our weekly check in on digital asset fund flows. (globally, not just the US ETFs)
And massive inflows are back.
Last week was the fifth straight week of positive inflows with $1.84 billion coming in.
This Brings year-to-date net inflows to $7.60 billion.
More importantly, total assets under management are now at $82.56 billion.
Almost surpassing the November 2021 peak of $86 billion.
You probably saw this coming…
But Bitcoin was once again the king of inflows.
Bringing in $1.73 billion for the week. (94% of inflows)
Ethereum also had another great week with net inflows of $84.7 million.
With recent price surges, Short Bitcoin also experienced considerable inflows of $22.2 million. (investors betting the price of Bitcoin will drop)
And unfortunately for Solana, it was another net outflow week with -$11.9 million.
The United States continued its domination with net inflows of $1.89 billion.
Germany, Sweden and Canada all experienced outflows of $34.8m, $31.6m and $23.1m respectively.
Last week Grayscale saw net outflows of $1.45 billion. 😱
That’s an increase of $1 billion in net outflows compared to the prior week.
However, BlackRock alone more than made up for Grayscale’s outflows. Bringing in over $2 billion for the week.
CRACKING CRYPTO 🥜
Coinbase legal chief downplays court ruling on crypto as securities in insider trading case. Crypto community questions implications of recent securities ruling, Coinbase executive Paul Grewal comments.
MicroStrategy set to raise $600M via convertible notes to buy more Bitcoin. MicroStrategy has also pivoted to become a Bitcoin development company.
Someone bought a CryptoPunk for $16M. With bitcoin nearing its all-time high, eye-watering NFT sales like that of Punk 3100 appear to be cropping back up.
WHAT WE’RE READING 📚
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CAN YOU CRACK THIS NUT? ✍️
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MEME CORNER 😂
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Trivia Answer: A) Keys 🥳
A Bitcoin wallet stores keys
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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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