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PLUS: Dogecoin ETF
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GM to all 97,951 of you. Crypto Nutshell #544 puttin’ out fires… 🧯🥜
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What we’ve cooked up for you today…
🏦 It’s official
🧠 DeepSeek is incredibly bullish for Bitcoin
💪 All-time high
💰 And more…
Prices as at 3:00am ET
IT’S OFFICIAL 🏦
BREAKING: Bitwise files S-1 registration with the SEC for a Dogecoin ETF
Last week Bitwise filed for a Dogecoin Trust in Delaware. (This was the first step in the process)
But now it’s official…
Today, Bitwise filed with the SEC to launch a Dogecoin ETF. 🤯
The proposed Bitwise Dogecoin ETF would hold Dogecoin and closely track the memecoin’s price movements.
However…
This is only the S-1 filing. (The next step in the process)
The SEC won't have an approval deadline until Bitwise submits their 19b-4 filing. (Final step before launch)
(The approval process can take up to 135 days following the submission of a 19b-4 filing)
But who’s this ETF even for?
Is there demand for memecoin ETFs?
Well Bitwise’s Chief Investment Officer, Matt Hougan, certainly thinks so.
Here’s what he had to say in a recent interview with Financial Times:
"The reality is that there are a lot of people that want to invest in dogecoin. It’s the sixth-largest crypto asset (excluding stablecoins) in the world by market cap and it trades over $1bn a day.”
Continuing on, Matt explains:
“I don’t think what we are heading towards is a free-for-all… I don’t think every crypto asset is appropriate for an ETP. There are corners of the crypto market that are not liquid enough, that are subject to manipulation and are subject to insider control that are not suitable for an ETP.”
Bitwise also has active filings for both spot Solana and XRP ETFs.
They’ve also filed to list their “Bitwise 10 Crypto Index Fund”, which tracks the 10 largest crypto’s by market cap excluding stablecoins.
The question now is…
How far will this new SEC let things go?
If you're frustrated by one-sided reporting, our 5-minute newsletter is the missing piece. We sift through 100+ sources to bring you comprehensive, unbiased news—free from political agendas. Stay informed with factual coverage on the topics that matter.
DEEPSEEK IS BULLISH FOR BITCOIN 🧠
Earlier this week, the release of DeepSeek made both the stock market & crypto market crash.
According to mathematician Fred Krueger?
Investors have it all wrong.
The release of DeepSeek is incredibly bullish for Bitcoin.
Who is Fred Krueger?
A mathematician, with a P.H.D from Stanford University 📚
Worked on Wall Street for 10+ years 💼
Extremely successful entrepreneur - has exited 10 companies, with some exits in the tens of millions 💰
In case you have no idea what DeepSeek is or why it caused the crypto crash, check out our breakdown from earlier this week.
In a nutshell?
DeepSeek is a Chinese AI model developed for under $6 million, which matches OpenAI's top models, at a fraction of the cost.
Its release sparked doubts about US tech valuations, which triggered a major sell-off that spilled into the crypto market.
Fred thinks this shouldn’t have affected Bitcoin:
For years, US tech stocks have been a reliable store of wealth, consistently outperforming.
DeepSeek’s release, however, cast doubt on their future.
Bitcoin, on the other hand, is unaffected. That’s bullish.
Fred then posted 7 reasons to remain bullish over 2025:
When it comes to Bitcoin, it doesn’t pay to be a bear:
“Bears end up as mats in pioneers cabins.”
ALL-TIME HIGH 💪
Today we’ll be taking a look the overall stablecoin supply.
Stablecoins are often used on centralized and decentralized exchanges to purchase other digital assets. And allow the instant transfer of money between borders.
The chart below tracks the aggregate change in the total stablecoin market cap.
🟢 Increased stablecoin supply: increased demand and capital inflows into the digital asset space 🐂
🔴 Contractions in stablecoin supply: net capital outflows from digital assets 🐻
The last time we checked in on this metric, the stablecoin market cap was ~$188.91 billion. (15th of January)
Today the aggregate stablecoin market cap is ~$195.62 billion. 📈
That’s an increase of ~$6.71 billion in the last two weeks. (And a fresh all-time high)
But here’s the thing…
Since the US 2024 election, the stablecoin market cap has been exploding. (It’s practically vertical at this point)
Since November 5 2024, the stablecoin market cap has increased by over $33.66 billion!
Capital is now flooding into the crypto industry at an accelerating rate.
Here’s what this means for us:
Stablecoins represent one of the most important metrics for an altcoin bull run.
Simply put, more liquidity = Larger potential pumps 😎
CRACKING CRYPTO 🥜
Metaplanet plans $745M capital raise to boost Bitcoin holdings amid yen decline. Japan-based Metaplanet's move to issue shares underscores its ambition to bolster Bitcoin reserves amid weak yen.
Arizona Senate moves forward with Bitcoin reserve legislation. Arizona’s Bitcoin reserve bill aims to enable public funds and pensions to invest in Bitcoin.
Tom Lee Calls Monday's Market Plunge a Great Buying Opportunity After AI, Crypto-Led Rout. On Monday, NVIDIA had the largest single-day market cap loss in history, erasing $465 billion in market cap.
Cboe BZX files again on behalf of firms for a spot Solana ETF in an attempt to get SEC's sign-off. The exchange posted 19b-4 filings for the Canary Solana Trust, Bitwise Solana ETF, 21Shares Core Solana ETF and the VanEck Solana Trust on Tuesday.
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”)
Which cryptocurrency introduced the concept of smart contracts? |
MEME CORNER 😂
Because what would the crypto world be without its share of memes?
Trivia Answer: C) Ethereum 🥳
Ethereum. Ethereum pioneered flexible smart contracts when it was launched in 2013.
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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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