Grayscale's Fees 😱
In today’s edition: 👀 The surprising ways the 'Trump trade' could boost crypto, ⏰ Is it time to buy ether before the ETF launch? 🔚 German government ends big BTC sell-off, and more!
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Bits + Bips: How to Play the ‘Trump Trade’ in Crypto After the Assassination Attempt
Plus, how much will the Fed cut rates (and when)? What will the inflows be into ETH ETFs? And what is the near-term future for Bitcoin?
In this episode of Bits + Bips, hosts James Seyffart, Alex Kruger, and Joe McCann, joined by guest Jack Platts, dive into the market’s reaction to the recent assassination attempt on former U.S. President Donald Trump, looking at how this event will influence the 2024 U.S. presidential election—and the crypto markets.
They also cover potential rate cuts: Could there be a cut this July? How big might the rate cut be in September? Could the decision ever be influenced by the upcoming election?
They also give their predictions for what percentage of the bitcoin ETF inflows the ether ETFs will reach, and James talks about what he’s expecting for Grayscale’s ETHE (hint: his view would be positive for ether).
Finally, they delve into what’s next for bitcoin as the German government runs out of bitcoin to sell and Mt. Gox distributions begin. Is it up only now?
Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Podcast Addict, Pocket Casts, Amazon Music, or on your favorite podcast platform.
What’s Poppin’?
by Sam Sriram, Frederick Munawa, and Juan Aranovich
Grayscale Fees for Spot Ethereum ETF 10 Times Higher Than Competition
Grayscale will charge a 2.5% fee for its main spot ether ETF, which will be converted from the Grayscale Ethereum Trust (ETHE).
Why a Trump Presidency Could Be Even More Bullish for Crypto Than You Think
Former U.S. President and current presidential candidate Donald Trump is positioning himself as the pro-crypto candidate, but what might be more significant is what his wider economic policies might mean for the attractiveness of crypto.
Should You Buy Ether Now That Spot ETFs Are About to Be Approved?
Spot ether ETFs could launch on July 23, according to experts, while the chances of pro-crypto presidential candidate Donald Trump winning the election have been growing.
German Government Nets $2.9 Billion From Bitcoin Sale, Says Price Was ‘Irrelevant’ to ‘Emergency Sale’ Decision
German authorities confirmed the end of their 50,000 BTC sell-off, claiming that the scale of OTC trades was “gentle on the market” and had “no direct influence on price.
Daily Bits… ✍️✍️✍️
💱 Asset manager State Street is exploring the creation of its own stablecoin and a deposit token to facilitate blockchain payment settlements.
📤 BlockFi will start processing crypto distributions through Coinbase this month, but non-US clients are currently ineligible due to regulatory constraints.
🔓 Indian crypto exchange WazirX halted withdrawals after a $230 million security breach, with the hacker converting stolen assets to ether and funneling some through Tornado Cash.
🗓️ Polygon announced that the migration from MATIC to POL tokens will occur on September 4, with POL becoming the new gas and staking token on the Polygon proof-of-stake network.
💡 The TON Foundation is launching TON Teleport BTC to enhance Bitcoin's utility within its ecosystem, supporting decentralized exchanges and DeFi applications.
🛡️ A data breach at decentralized identity startup Fractal ID affected approximately 0.5% of its 1 million users, impacting crypto projects such as Gnosis Pay, due to a compromised operator account.
Today in Crypto Adoption...
🇭🇰 Hong Kong plans to introduce stablecoin legislation by the end of the year, following the conclusion of a public consultation on the matter.
What Do You Meme?
📈 Your Market Update 📉
BTC is down 1%, trading at $64,570
ETH is down 1.3%, trading at $3,441
BTC dominance: 51.37%
Crypto market cap: $2.49T
*All data as of today, 06:37 am ET. Source: CoinGecko
Recommended Reads
Against choosing your political allegiances based on who is "pro-crypto" by Ethereum co-founder Vitalik Buterin
DL News: Why crypto firms launch tokens even though they shouldn’t
Forbes Crypto: These Companies Are Getting Onto A Bitcoin Standard
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