Today’s edition is brought to you by Gemini - Get $25 in bitcoin when you trade $100.

GM to all of you nutcases. It’s Crypto Nutshell #670 bricked up… 🧱🥜

We're the crypto newsletter that's more hilarious than two friends pretending to be rich while crashing high-society weddings... 💒🥂

What we’ve cooked up for you today…

• 🏦 The SEC does it again

• 🐋 The whales want Ethereum

• 📉 Who’s selling?

• 💰 And more…

What’s in the Crypto Nutshell Portfolio?

THE SEC DOES IT AGAIN 🏦

BREAKING: US SEC approved conversion of the Bitwise crypto index fund — then hit pause

Bitwise made history this week… Almost…

The SEC officially approved its plan to convert the $1.68B Bitwise 10 Crypto Index Fund (BITW) into a spot ETF.

It would’ve been the first-ever multi-asset crypto ETF in the U.S., with 90% exposure to Bitcoin and Ethereum, and the rest spread across SOL, XRP, ADA, LINK, UNI, and more.

But just hours later…

The SEC hit pause. 🤨 

Assistant Secretary Sherry Haywood stepped in with a formal stay, announcing the full Commission will now “review the delegated action.”

Sound familiar?

It should - Grayscale’s multi-asset fund faced the same fate earlier this month.

Approved, then frozen.

So what’s going on?

Insiders say the SEC is buying time as it builds a new framework for crypto ETFs - especially for funds that hold tokens like XRP and ADA, which still lack standalone approvals.

The agency is reportedly working on a new listing standard to streamline these products and eliminate the current 240-day review window.

Until then?

Asset managers are stuck in ETF limbo.

Ready to launch.

Just waiting on the rulebook.

THE EASIEST WAY TO BUY CRYPTO 🤑

With all the ways to buy crypto today, making your first purchase isn’t the hard part.

Knowing where to keep it? That’s where things get tricky.

That’s why more and more traders are turning to Gemini - one of the most trusted names in the game.

Here’s what makes Gemini stand out 👇

• A clean, beginner-friendly interface that makes buying your first crypto feel effortless

• An advanced “ActiveTrader” platform for pros with real-time data, charting tools, and low fees

• Over 80 assets to choose from - including Bitcoin, Ethereum, stablecoins, and various altcoins

• Simple staking that lets you earn up to 4.98% APY just by holding your crypto

You’ll also get tools like price alerts, recurring buys, and a mobile app that mirrors the full desktop experience - perfect for tracking your portfolio on the go.

Whether you're starting with $100 or scaling up a strategy, Gemini has your back.

As a bonus for Crypto Nutshell readers, Gemini is offering $25 in Bitcoin when you trade $100!

👉 Check it out at gemini.com (Promo code: CryptoNutshell)

THE WHALES WANT ETHEREUM 🐋 

For the third and final instalment of our Ethereum bull posting…

The data is clear:

Institutions are coming. And they want Ethereum.

Cathie Wood sees it too.

The ARK Invest CEO - one of the earliest major institutional crypto bulls - weighed in on Ethereum this week:

Translation?

Ethereum is cementing itself as the institutional Layer 1.

And the data backs it up:

The data could not be more clear:

The whales are here - and they want Ethereum.

They were sidelined, but now the move has begun. 

And they’re not waiting around. 🚀

WHO’S SELLING? 📉

Let’s check in on one of our favourite metrics: Bitcoin’s supply last active 1+ years ago.

It’s a simple but powerful signal - tracking how much BTC has remained untouched as a percentage of total circulating supply.

Here’s the logic:

• Metrics rising: long-term holders are accumulating coins 📈

• Metrics declining: long-term holders are selling coins 📉

Here’s the latest supply breakdown vs. two weeks ago:

• 🔴 Supply last active 1+ years ago: 61.61% (down from 62.01%)

• 🟠 Supply last active 2+ years ago: 51.39% (down from 51.72%)

• 🟢 Supply last active 3+ years ago: 44.29% (down from 44.56%)

• 🔵 Supply last active 5+ years ago: 30.08% (down from 30.18%)

That means 61.61% of all Bitcoin still hasn’t moved in over a year.

But as you can see…

Every single cohort has seen a slight decline over the past two weeks.

As Bitcoin sets new all-time highs, it’s almost inevitable that we’ll see some form of profit taking.

Still, let this sink in:

Nearly two-thirds of the entire supply remains untouched.

In a market hitting price discovery…

That kind of conviction speaks volumes. 💎

CRACKING CRYPTO 🥜

Dan Tapiero sees crypto ecosystem reaching $50 trillion as he launches new $500 million fund under 50T rebrand. Dan Tapiero's 10T and 1RT funds have consolidated and rebranded as 50T. The consolidated firm has launched a new $500 million growth equity fund.

Crypto Prediction Market Polymarket Weighs Launching Its Own Stablecoin. Polymarket would create its own stablecoin to own the yield-generating USD reserves that back the amount of Circle’s dollar-pegged token, USDC, a source said.

SpaceX moves $153M in BTC after three-year silence. Spacex transfers 1,308 btc in first onchain activity in 3 years. The move comes as the pentagon diversifies golden dome contracts and hints grow about musk’s crypto payment ambitions.

Solana ETF skyrockets to $100 million AUM in just 12 days. The first US-listed Solana ETF combines price and staking yield exposure, attracting traditional investors.

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”)

MEME CORNER 😂

Because what would the crypto world be without its share of memes?

Trivia Answer: Self-executing code that runs when conditions are met 🥳

A smart contract is basically code that automatically executes actions when predefined rules are triggered — no middlemen, no paperwork. Just trustless logic. 🤖⚖️

GET IN FRONT OF 95,000+ CRYPTO INVESTORS

Advertise with Crypto Nutshell to get your product or brand in front of the crème de la crème of crypto investors. Crypto Nutshell readers are high-income earners who are always looking for unique or interesting offers.

Get in touch today.😎

HOW DID WE DO? 🤷

We read every comment submitted in this poll and love to hear what you guys have to say. 😁 (bonus points for suggestions 🍪)

NUTCASE REVIEW OF THE DAY 🔍

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.