NateGeraci

Spot bitcoin ETF inflow streak hits 13 days…

$1.2bil just this week.

Talked to someone in the space today who said institutional & advisor adoption hadn’t even really fully begun.

Possible to be bitcoin bull, but bitcoin treasury company bear?

Over a half bil into spot btc ETFs…

12 straight days of inflows.

Nearly $4bil new $$$.

Category now approaching *$50bil* inflows since Jan 2024 launch.

Absolutely ridiculous.

Last 48hrs…

-Republican senators propose full legal framework for crypto

-Fed Chair Powell says crypto industry maturing

-Fannie & Freddie to count crypto as asset for mortgages

-Cboe files for Canary PENGU ETF

-Invesco files for spot sol ETF

Hope you’re paying attention.

Investment platform Republic attempting to launch digital tokens offering exposure to Space X…

Several regulatory hurdles to clear, but platforms like this are clearly trying to push the envelope on tokenization.

via @cdriebusch

iShares Bitcoin ETF putting together another impressive streak…

Now 11 straight days of inflows.

$3bil new $$$.

That’s *$3bil* over past 11 trading days.

A machine.

Over 400,000 bitcoin purchased by governments, companies, & ETFs so far this year...

About 2% of total btc supply.

Nice breakdown of who’s buying here.

Look at Strategy & IBIT.

via @dcanellis

Let's see who met w/ SEC Crypto Task Force today to discuss tokenized equities...

The *New York Stock Exchange*.

Don't think people fully appreciate how fast this is all moving.

Some other interesting topics covered as well incl generic listing standards for spot crypto ETFs.

Spot eth ETFs just surpassed $4bil in cumulative inflows since launch…

*Includes* $4.3bil outflows from ETHE unlock.

Seems pretty successful to me.

I remember when “pundits” thought top end for spot *btc* ETFs in yr 1 would be $5bil.

People always moving goalposts.

Over past 50 trading days, iShares Bitcoin ETF only has 3 days of outflows…

43 days of inflows.

$12.5bil new $$$ overall.

IBIT top 5 ETF in inflows this year (out of nearly 4,300 ETFs).

Can’t imagine how hard it must be to wake up as a permabear every day…

Mad because the world keeps getting better over time.

Praying (cheering) that something bad happens so you can make $$$.

Tough existence.

Since Election Day…

IBIT (btc) +49%

GLD (gold) +22%

IEFA (developed int’l stocks) +11%

SPY (s&p 500) +4%

ETHA (eth) -1%

TLT (20+yr treasuries) -4%

Make of this what you will.

Spot ether ETFs w/ inflows 25 of past 30 trading days…

Nearly $1.5bil in new $$$.

Interested to see what happens if spot sol ETFs w/ staking approved in near future.

Which means spot eth ETF staking will be allowed.

All the people who incessantly disparage crypto & constantly reference Polymarket is truly one of my favorite things…

Liquidity tokens such as stETH solve two major issues for spot ETFs…

-Liquidity (obviously). Think about what happens if ETF faces meaningful redemptions. Takes time to unstake ETH.

-Higher yield. Can stake greater % of fund assets.

Begs question… who’s filing for stETH ETF?

Quick summary of past week…

-Senate passes stablecoin bill

-Sitting POTUS says “digital assets are the future”

-JPM & DTCC meet w/ SEC Crypto Task Force on tokenization

-BBG gives 95% approval odds this yr for spot sol, xrp, & ltc ETFs

And you still think crypto is a scam.

*Depository Trust & Clearing Corporation* met w/ SEC Crypto Task Force today to discuss tokenization…

That’s right… DTCC & tokenization.

Hope you’re paying attention.

Crypto ETFs remain the most interesting place in asset management…

Intersection b/w tradfi & defi.

Require regulators & tradfi ecosystem to adapt.

It’s my belief we’re heading towards full securities tokenization.

Might take a while. But will happen.

Crypto ETFs = step one

Where are we in the crypto adoption curve?

8 straight days of inflows into spot btc ETFs…

About $2.5bil.

Category has now taken in nearly $11.5bil in 2025.

Year two.

Still “no demand”.