🥛 ETH ETF coming soon? 👀

PLUS: a cool tool to track flows between blockchains 🔍                                                                                                                                                                                                                                                                                                                                                                                                                 March 26, 2024 | [Read Online]( [fb]( [tw]( [in]( [email](mailto:?subject=Post%20from%20Milk%20Road&body=%F0%9F%A5%9B%20ETH%20ETF%20coming%20soon%3F%20%F0%9F%91%80%3A%20PLUS%3A%20a%20cool%20tool%20to%20track%20flows%20between%20blockchains%20%F0%9F%94%8D%0A%0Ahttps%3A%2F%2Fthemilkroad.beehiiv.com%2Fp%2Feth-etf-coming-soon) Today’s edition is brought to you by [RYSE]( - the smart home company that aims to become the Ring and Nest of the smart shades industry. [Earn bonus shares when investing in RYSE!]( GM. This is Milk Road, the newsletter that quenches your crypto thirst like a Kool-Aid Burst on a hot summer day. Here’s what we got for you today: - BTC ETFs are flowing again and the ETH ETF debate heats up 🔥 - How we track flows between blockchains 🔍 - London Stock Exchange 🤝 Crypto [Prices as of 12:30 PM ET. Click here for our Fear & Greed Index]( BTC ETFS ARE FLOWING AGAIN AND THE ETH ETF DEBATE HEATS UP 🔥  There were 2 pieces of big news in ETF-land…  1/ BTC ETFs are seeing inflows again. Last week was rough for [Bitcoin ETFs](… 5 straight days of sell-offs. $888M in total outflows. Our sources tell us institutional investors spent the week sulking over the better days while listening to “[Marvin’s Room](” (aka the ‘sad boy’ anthem). Well, it’s a brand new week, baby! And we’re off to a strong start… BTC ETFs saw $15.7M in net inflows yesterday. [Source: @BitMexResearch]( Why this matters: There’s been a correlation between BTC ETF flows and BTC’s price... - When there are inflows, [BTC’s price]( usually goes up. Since the BTC ETFs launched, they’ve seen $11.2B in total inflows. BTC’s price is up +52% in that time. - When there are outflows, [BTC’s price]( usually goes down. For example, last week’s 5-day streak of outflows sent BTC to the clearance rack. (It was down -8%). And speaking of ETFs… 2/ Grayscale’s Chief Legal Officer believes ETH ETFs “should be approved”. Now that the BTC ETFs have been approved, all eyes are on… ETH ETFs. They’re similar to BTC ETFs - except instead of getting exposure to BTC, you get exposure to ETH. But there’s been a lot of debate on whether an ETH ETF will be approved. Eric Balchunas (Bloomberg’s ETF guru) [thinks]( there’s a 25% chance of approval this year. Well, a new fighter has entered the ring… Craig Salm, Grayscale’s Chief Legal Officer. (Side note: Cartels call Saul Goodman to keep them out of trouble. Grayscale calls Craig). And he thinks there’s a good chance an ETH ETF does get approved soon… [Source: @CraigSalm]( Why this matters: If an ETH ETF does get approved, it could lead to a big [ETH](rally - similar to what BTC ETFs did for BTC. P.S. - it could also lead to a rally for ‘ETH-beta’ investments (i.e. [Ethereum L2s]( and [ETH staking protocols](). [INVEST ALONGSIDE PROMINENT VENTURE CAPITALISTS]( VCs know how difficult it is to spot promising early investment opportunities. Even the all-knowing Sharks from Shark Tank declined the offer to buy 10% of Ring for $700K. It’s a decision they would regret when Amazon acquired Ring, turning $700K into $10M. But what made Ring blow up and change doorbells forever? Retail distribution. RYSE has launched in 100+ Best Buy stores, but did you know they pitched on Canada’s Shark Tank — Dragons Den — and [received two offers](? Exits in the smart home industry have yielded [massive returns]( for early investors (look at Ring and Nest's billion-dollar acquisitions) and the Dragons believe they’ve spotted the next success story in RYSE. [Don’t make the same mistake the sharks did - invest now.]( HOW WE TRACK FLOWS BETWEEN BLOCKCHAINS Check it out. We came across a new analytics tool to track crypto transferred between blockchains. It’s a good way to see… - Which blockchains investors are sending funds to, and - Which blockchains investors are withdrawing funds from. [Source: deExplorer]( Why this is useful: New narratives and blockchains are popping up every day. It’s getting harder to keep up with than the Kardashians. This helps you easily “follow the money” to see where most investors are looking… or sometimes, you can find hidden gems where people aren’t looking. BITE-SIZED COOKIES FOR THE ROAD 🍪 [Navigating the complexities of crypto tax filing can be overwhelming.]( On the plus side, there are services — such as CoinTracker — to simplify this process, making it as straightforward as managing traditional tax filings. Check out Milk Road’s Tax Software guide [here](. [The London Stock Exchange plans to list crypto ETNs (exchange-traded notes) at the end of May](. The stock exchange will accept applications for trading BTC and ETH crypto exchange-traded notes starting April 8. [Nilam Resources entered into a Letter of Intent (LOI) to purchase 24,800 BTC, worth ~$1.7B](. The crazy part? Nilam is a tiny gold mining company with a $4M market cap. Hmm… smells fishy. (This is like if I - a guy who can barely jump over a rock and whose height starts with a ‘5’ - declared for the NBA draft). [BTC’s price volatility led to $193M in liquidations yesterday](. The majority of them ($129M) were short positions. [Coinbase International’s daily trading volume is soaring](. There have only been five days in March where daily trading volume fell below the $1B on the platform. [On today’s episode of “Sh*t-You-Only-See-In-Crypto-And-Hollywood-Movies”... a Binance executive has escaped custody and fled Nigeria](. Nadeem Anjarwalla had been in custody since late February but recently escaped after “guards had escorted him to a nearby mosque” to pray. [The SEC is reportedly seeking $2B in fines and penalties from Ripple Labs](. And I thought my $30 parking ticket the other day was bad… MILKY MEMES 🤣 [Source: @LilMoonLambo]( [Source: @RampCapitalLLC]( [Source: @alancarroII]( RATE TODAY’S EDITION What'd you think of today's edition? [🥛🥛🥛🥛🥛 F**king great]( [🥛🥛🥛 Meh, do better]( [🥛 You didn't bring the heat]( Share Milk Road You currently have 0 referrals, only 1 away from receiving Milk Road's 2024 Bull Run Survival Guide. [Milk Road's 2024 Bull Run Survival Guide]( [Click to Share]( Or copy and paste this link to others: ROADER REVIEW OF THE DAY VITALIK PIC OF THE DAY [tw profile: Milk Road Images] Milk Road Images @MilkRoadImages [tw] when you wake up and your portfolio is still green Mar 26, 2024 0 Likes 0 Retweets 0 Replies DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research. [tw]( [ig]( [yt]( [tk]( [in]( Interested in reaching smart readers like you?  [Sponsor Milk Road]( Update your email preferences or unsubscribe [here]( © 2024 Milk Road Inc. 603 Munger Avenue Suite 100 #1006 Dallas, Texas 75202, United States