Boom! BlackRock is back with another ETF as the institutions go WILD for crypto.
You better be buying up any dip you can before the bull market madness pops off!
Welcome to your weekend crypto update…
Here’s what’s in today’s issue:
- Rebecca shares her thoughts on Institutions going crazy for crypto, Ethereum debuting private accounts, Disney getting back into NFTs, Circle partnering with Sei & PancakeSwap’s gaming marketplace.
- Altcoin alpha by David.
- This week’s airdrop by Jesse.
- Sam has an NFT report on Ronin Network and how their on their way to becoming the hub of web3 gaming.
Thanks to Phemex for sponsoring today’s newsletter.
Last chances to join PT Airdrop Tsunami and claim your piece of the 1,000,000 PT airdrop pool. To claim your share, become a PSP holder and accumulate points through easy and fun activities.
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🏦 Institutions Are Going Crazy For Crypto
We’re less than 6 months away from the Bitcoin halving and the institutional interest in crypto has gone crazy. They’re here for those gains!
You’re winning if you bought in before they did.
These are the latest moves made by the biggest players in finance:
1. BlackRock files for spot Ethereum ETF
It’s official! BlackRock has filed with the SEC for a spot Ethereum ETF.
We were expecting this after BlackRock registered the iShares Ethereum Trust as a corporate entity in Delaware last week and saw Nasdaq file paperwork with the SEC.
BlackRock has chosen Coinbase as the custodian for the Ethereum ETF which is no surprise, given that it’s also the chosen custodian for the spot Bitcoin ETF.
The fact that BlackRock has moved so quickly on an Ethereum ETF certainly looks promising for the possibility of a Bitcoin ETF being approved ASAP.
2. Grayscale’s SOL Trust goes wild!
Grayscale’s Solana Trust is following in the footsteps of its Chainlink Trust which popped off last week. Its $GSOL Solana Trust was trading at a whopping 869% premium to the spot market price of SOL.
Grayscale is the only institutional on-ramp for Solana as it’s listed on CME, the derivatives marketplace.
This has in part contributed to the CME overtaking Binance in terms of crypto derivatives market share.
3. JP Morgan’s RWA project
JP Morgan’s digital assets platform, Onyx, has partnered with Avalanche, Axelar, and LayerZero. They will work together on a testnet to allow fund managers to tokenize and buy real-world assets (RWA) across different blockchains.
This forms part of Singapore’s Project Guardian in collaboration with its central bank and the Bank for International Settlement (BIS).
4. Germany to custody crypto
Germany’s 4th largest bank, Commerzbank, will custody crypto after being approved for a crypto license.
The next step for the bank is to create a digital assets platform for institutions. It was also announced earlier this month that Germany’s 3rd largest bank, DZ Bank, has already launched its crypto custody services for institutional investors.
🥷 Ethereum Debuts Private Accounts
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