US Ether ETFs Hit Record Volume
Even with ETH’s rally pausing, US spot ETH ETFs are on pace for a weekly inflow record (about ~$2.2B so far vs. ~$331M into BTC funds). Volumes are ripping too. Nate Geraci reported yesterday that Ether ETF volumes are hitting records as well. Spot Ether and Bitcoin ETFs combined traded $11.5B yesterday. For context, that’s about the same volume as Apple stock. Read more →
Altcoin Season Cometh
Altcoin season may be weeks away, with Coinbase's David Duong stating “we think current market conditions now suggest a potential shift towards a full-scale altcoin season as we approach September.” Coinbase defines "altcoin season" as when at least 75% of the top 50 altcoins outperform BTC over the prior 90 days. With Bitcoin dominance slipping to ~59% and Fed cuts poised to unlock sidelined cash, they see a rotation into alts setting up. Read more →
Bessent Discloses Size of U.S. Bitcoin Reserve
In an interview with Fox Business yesterday, Treasury Secretary Scott Bessent disclosed that “the bitcoin reserve at today’s prices is somewhere between $15 to $20 billion.” This marks the first public confirmation of the Strategic Bitcoin Reserve’s (SBR) size since its creation. Using Bessent’s valuation range and current spot prices of ~$120k, the SBR is estimated to hold anywhere from 125 – 165k BTC. Previous estimates of the strategic reserve pinned it at 200k BTC. So while we don’t know any exact numbers, Bessent’s disclosure was the first time any high-ranking government stated any number at all. Watch more →
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