Top Market Highlights

• Ether ETFs approved! Trading starts today

• Biden drops out of the 2024 US presidential race

Why is that important?

Spot ETF gives direct exposure to traditional investors - no crypto wallets or unknown crypto exchanges. Funds can buy it, and so can any investor through a banker or a broker.

There are spot ETFs around the world, but the real money starts flowing in when the US launches — just like it did with Bitcoin in January.

To date, the BTC ETFs accumulated $17.5b in net inflows.

The attention surrounding ETH is much lower than that of BTC, so the consensus is that ETH could aim for 10% - 15% BTC inflows, which would mean ~$1.7b in the next six months.

ETH's current market cap is $422b, which is 50% of BTC’s January market cap, just before the ETFs helped push BTC to new highs (+65% in two months).

Considering both, the effect might not be that dramatic. However, what is important to me is that traditional investors start exploring and discussing ETH. That will drive the adoption in the long term.

My action?

Don’t midcurve it; enjoy the ride, see how the market reacts, and focus on the long term.

• If the demand is low, we should see a dip. I have free cash ready to buy more ETH. (Grayscale risk).

• If it isn’t, I have been accumulating for the last 1.5 years, as many of you, so I have enough ETH to sit through the bull market.