📈 Blackrock is buying our coins

Plus: Celebrities launch meme coins

May 29, 2024

Together With:

Markets 

BlackRock Takes the Crown for the Largest Spot Bitcoin ETF From Grayscale (2 minute read)
BlackRock’s Bitcoin ETF, IBIT, is now sitting on the throne as the king of the hill, overtaking Grayscale’s GBTC. IBIT has continued to soak up much of the demand, with $102 million of inflows on Tuesday, GBTC on the same day bled $105 million.

Now, IBIT is holding roughly $20 billion in Bitcoin, having just surpassed GBTC’s $19.7 billion. BlackRock isn’t stopping there. They’ve now added Bitcoin into their income and bond-focused funds.

Bitcoin increasingly relevant in 2024 US election (3 minute read)
Bitcoin is becoming relevant to more and more U.S. voters. According to the latest survey from Grayscale, nearly half the voters are thinking about adding some crypto to their portfolios. This makes sense as people are jittery about inflation and looking to Bitcoin as a potential safe harbor.

Grayscale's poll is dropping some serious hints that crypto’s going to be a hot ticket in the November elections. A solid 32% of voters are keen to educate themselves more on crypto as an investment. With inflation being the number one worry for 28% of voters, it’s no surprise they’re turning to Bitcoin.

Sizing up demand for the ‘sub-standard’ US spot ether ETFs (4 minute read)
While investors buzzing about the launch of spot ether ETFs, don't expect them to mirror the success of their Bitcoin cousins. Industry insiders are warning that it’s going to be tougher to educate investors on ether compared to bitcoin.

These new ETFs are skipping out on one of Ethereum's most attractive features—staking. That's right, if you’re holding these ETFs, you'll miss out on the 3% to 4% yield that comes from staking your ether to secure the Ethereum blockchain.

This move has left experts like Christopher Jensen from Franklin Templeton and Alexander Blume from Two Prime scratching their heads. Without the allure of staking, the appeal of ether ETFs dips, and the debate over whether ETH is a security or a commodity just got cloudier.

Best of Crypto Twitter

Celebrities and crypto have historically not gone down well. This didn’t stop Caitlyn Jenner’s team from launching Solana meme coins over the past few days; the funniest part is that it all took place on Twitter.

It all started when Jenner shared a pump.fun link. Many assumed she had been hacked; however, her team quickly confirmed it was legit.

The coin ended up trading $100s of millions in volume.

Shortly after, Crypto Twitter discovered that a mysterious user named Sahil was behind the coin, and many other previous celebrity and crypto interactions.

And when things couldn’t be any more bizarre, Iggy Azalea launched her own coin, saying that it was all her, with no help from Sahil.

Unlock Your Trading Potential with MEXC! (Sponsor)
Are you ready to elevate your trading game? Look no further! MEXC offers a world of opportunities with benefits that keep your profits soaring and your costs low. Experience trading like never before:

🔹 Low Costs, High Returns - Enjoy competitive 0.1% spot maker & taker fees that maximize your earnings.
🔹 Rapid & Rich Listings - Dive into the fastest listings and the widest variety of cryptos available only on MEXC.
🔹 Unbeatable Security - Trade with confidence thanks to our world-class security system.
🔹 Efficient Launches - Get in early on top-tier crypto projects known for exceptional liquidity.

Misc

Ethereum Name Service Migrating to Layer-2 for Better Scalability and Lower Fees (2 minute read)
ENS Labs are launching ENSv2, a major upgrade for the Ethereum Name Service. Since 2017, ENS has made your crypto life easier by swapping those long Ethereum addresses for human-friendly names like "Alice.eth." But with Ethereum’s growth, the pain points have grown too, mainly high fees and slow transactions.

So, what's the fix? ENSv2 is diving into the world of Layer-2 networks to cut costs and speed things up. This move could mean a lot less pain when managing your digital identity on Ethereum. They're eyeing cutting-edge tech like Matter Labs’ ZK Stack.

Our Recommendations:

💻️ MEXC - Where we find and trade new coins with low fees
📈 TradingView - Software we use to chart Crypto.
🔐 Trezor - Our favorite hardware wallet to keep our Crypto secure.
🦑 Kraken - Where we buy crypto with cash / withdraw profit to our bank.

Thanks for reading, if you enjoyed, tell your friends!

P.S: If you're interested in the wider investing world. Check out our flagship publication.

👽️