PLUS: a new guest on Milk Road's Hot Seat ð¥ October 03, 2023 | [Read Online]( Todayâs edition is brought to you by [Origin Protocol]( - deposit your ETH or staked ETH to earn additional yield from trading fees and DeFi activities. [Boost your ETH yield!]( GM. This is Milk Road, where we dive into the crypto ocean and bring you back pearls - just so you don't get your feet wet. Hereâs what we got today: - ETH futures ETFs flop on Day 1 ð - BitBoy gets put on the Hot Seat ð¥ - Graph of the Day: the streak of outflows is over ð - The trial of the century starts today ðª
[Prices as of 10 AM ET. Click here for our Fear & Greed Index]( ETH FUTURES ETFS FLOP ON DAY 1 ð The first ETH futures ETFs launched in the U.S. yesterday. In fact, 9 ETFs went live⦠all at once. They were launched by some of the biggest investment firms in the world like Valkyrie, VanEck, ProShares, Bitwise, and more. So, howâd Day 1 go? âPretty mehâ -according to [Eric Balchunas](, a Senior ETF Analyst at Bloomberg. - By midday, the ETFs had a combined $2M in trading volume. - This was much lower than previous crypto ETF launches. - To compare, the first [BTC]( futures ETF saw $1B in trading volume on its first day. ($200M was traded within the first 15 minutes after launch!) Ouch. I havenât seen a bigger flop than when I tried throwing a house party in 8th grade⦠Only 3 people showed up. (1 was my brother, who already lived in the house)
[Source: Tenor]( Weâll see if the [ETH]( futures ETFs can bounce back after a weak debut. [EARN MORE FROM YOUR STAKED ETH]( Hereâs a hard pill to swallow: ETH stakers are leaving money on the table. While having more stakers is great for securing the network, it also lowers the staking yield. But thatâs where [Origin Protocol]( comes in. [OETH]( earns sustainable, risk-adjusted yield on ETH through DeFi. And itâs currently earning 50% more than leading LSDs. Hereâs how it works: - Deposit ETH, stETH, rETH, or frxETH to [mint Origin Ether](, or swap for OETH on a DEX - Earn validator rewards from your OETH - Sit back while the protocol earns additional yield from DeFi - Receive staking rewards daily, with no gas fees required - Voila, more cheese! And Origin Protocol takes security seriously. Theyâre audited by the same folks that audit Coinbase, The Ethereum Foundation, and Aave. [Boost Your ETH Yield!]( BITBOY GETS PUT ON THE HOT SEAT ð¥ This week we have a new guest on Milk Roadâs Hot Seat⦠Government name: Benjamin Charles Armstrong. Nickname: âBitBoyâ. Known as: a YouTuber/influencer (1.5M subscribers) who made millions trading crypto, and bought expensive sh*t to flex on social media. His pockets jingled with coins, and his garage vroomed with luxury. Well, itâs been a crazy few weeks for him... - Got fired from his own company due to alleged âfinancial damage to employeesâ and âsubstance abuseâ - Got caught cheating on his wife - Lost his Lamborghini to his business partner - Live-streamed himself on social media outside of his business partnerâs house trying to get the Lambo back (he also had a gun, and his mistress, with him) - Got arrested for it - Spent the night in jail Now, heâs looking to sell off all the fancy stuff he was flexing on social media not too long ago⦠(i.e. cars, Rolex watches, NFTs). The lesson: life comes at you fast. Ben went from BitBoy â ShowMeYourBidsBoy in the span of a few weeks. Remember kids, just say no to drugs. GRAPH OF THE DAY: WEEKLY CRYPTO FUNDS FLOW REPORT ð
[Source: CoinShares]( The results from the latest weekly [Digital Asset Fund Flows Report]( are inâ¦funds invested $21M into digital assets. Here are some of the top takeaways from the report: - Bitcoin led the way with $20M in inflows. [BTC]( saw 4x more trading volume than any other digital asset this week. - Institutional investors love Solana. $SOL saw its 27th week of inflows this year. To compare, itâs only seen 4 weeks of outflows. - Macro news is pushing institutions toward crypto. Analysts believe that the inflows are a combo of âpositive price momentum, fears over U.S. government debt prices, and the recent quagmire over government fundingâ. (btw, today I learned quagmire was a real word and not just the name of the creepy dude from Family Guy.) The best part? The 6-week streak of outflows is over. To celebrate⦠I did that thing where you grab some plates, smash them on the ground, and yell âOpaâ! (P.S. - DO NOT try this at home in front of your wife.) BITE-SIZED COOKIES ðª [Awaken built an AI algorithm to boost the accuracy of crypto tax reporting.]( The algorithm can analyze over 10,000 unique protocol functions and helps to take the stress out of tax season.* [Sam Bankman-Friedâs trial is starting today](. Unfortunately, you canât watch it (missed PPV opportunity, imo) but there are a handful of accounts live-Tweeting the action. Check out [Blockworks]( and [Inner City Press](. [Honda has partnered with FCF Pay to accept crypto as a form of payment](. People will be able to purchase, finance, or lease a car using crypto like BTC, ETH, DOGE, SHIBA, and more. [UBS Asset Management is launching a pilot for a tokenized money market fund](. The tokenized fund will live on the Ethereum blockchain. [Adidas is teaming up with Moncler to launch a new NFT collection](. The new campaign includes âAI-generated adventurersâ NFTs and an immersive digital experience. [Celsius is aiming to begin making payments back to customers by the end of the year.](The bankrupt crypto lender is waiting for court approval to start refunds. *This is sponsored content MILKY MEMES 𤣠HIT THE INBOX OF 250K+ CRYPTO INVESTORS Advertise with Milk Road to get your brand in front of the Who's Who of crypto. The Roaders are high-income crypto investors who are always looking for their next interesting product or tool. [Get in touch today](. What'd you think of today's edition? - [ð¥ð¥ð¥ð¥ð¥ F**king great](
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