Join Matt and Nick as they break down the latest market uptick; the state of Wisconsin’s investing in Bitcoin ETFs; the U.S. Senate voting to override an anti-crypto rule; Solana vs Ethereum; altcoin updates; and more.

Key Takeaways

• The U.S. SEC shocked the market by approving all eight spot Ethereum ETF applications. No indication of when these ETFs will go live. The issuers still need to get their filings approved, which may take months.
• ETH rallied by more than 20% after news circulated that the SEC was all of a sudden likely to approve the ETFs.
• U.S. presidential candidate Donald Trump doubled down on his support of crypto, pegging himself against the Biden administration. While it’s unclear whether Trump is simply just trying to win votes, it’s encouraging to see increased publicity surrounding crypto.
• Among the altcoin updates covered: Chainlink’s involvement in another asset-tokenisation pilot and Uniswap Labs’ response to the SEC’s Wells notice.

Join Matt and Nick as they break down the latest market uptick; the state of Wisconsin’s investing in Bitcoin ETFs; the U.S. Senate voting to override an anti-crypto rule; Solana vs Ethereum; altcoin updates; and more.

Key Takeaways

• Cryptocurrencies traded higher following the latest U.S. CPI data coming in line with expectations.
• The U.S. Senate approved a rule change that would make it easier for banks to offer crypto-custody services. However, President Joe Biden said he would not be signing off on this.
• Nearly 1,000 entities reported owning spot Bitcoin ETFs as of the end of March. Worth noting, however, the vast majority of these are likely not holding for investment purposes.
• The State of Wisconsin Investment Board (SWIB) was one that reported owning roughly $160M worth of these ETFs for investment purposes. This is very bullish and may prompt other state pensions to follow Wisconsin’s lead.
• Solana overtook Ethereum mainnet in terms of daily economic value (i.e. transaction fees plus MEV) for the first time. Yet another sign that Solana should not be overlooked.
• The SEC must approve or deny two spot Ethereum applications by the end of this week. A denial is widely anticipated. If this happens, the SEC’s rationale will be a must-follow, as will any public statements from the relevant applicants (i.e. VanEck, Ark Invest and 21Shares).
• Among the altcoin updates covered: news regarding zkSync and Blast’s airdrops; and Syntetix’s sUSD losing its peg.

Join Matt and Nick as they break down this week’s key market event; the spot Ethereum ETF applications; the SEC’s potential lawsuit against Robinhood; Donald Trump’s pro-crypto speech; memecoin prices soaring; altcoin updates; and more.

Key Takeaways

• The market continues to trade sideways ahead of this week’s inflation data in the U.S. Consensus forecast is 3.4%, which would be slightly lower than the 3.5% recorded last month.
• The SEC flagged its intent to sue Robinhood in relation to its crypto offerings. Unlike previously, Robinhood plans to defend a would-be lawsuit.
• Bitcoin ETFs saw net inflows for the first time in five weeks. A major asset manager in Boston was revealed to hold roughly $360M worth of bitcoin ETFs.
• The spot Ethereum ETF application is still widely expected to be denied. The SEC must approve or deny VanEck’s application by May 23.
• U.S. presidential candidate Donald Trump spoke positively about crypto, contrasting the views held by the Biden administration. Time will tell whether he is just trying to win votes.
• ‘Roaring Kitty’, a key figure behind the ‘meme stock’ mania of 2021, posted on social media after a long hiatus. This caused memecoins to rally.
• Among the altcoin updates covered: Infinex announces 30-day campaign; EigenLayer opens token claim window; and Botanix Labs secures funding.