TL;DR

• Bitwise CIO reports that Q2 ETF institutional holdings are generally on the rise, with most institutions holding their positions firmly.

• The German public remains highly skeptical of the digital euro, primarily due to concerns about privacy.

• Ripple's Chief Legal Officer anticipates that the US SEC may likely appeal the XRP ruling.

• Analyst: The bottoming out of Ethereum gas fees might signal that ETH prices are nearing mid-range lows.

• Today’s fear and greed index has increased to 31.

• India’s Law Enforcement Directorate has arrested individuals suspected of involvement in a $144 million crypto-related kidnapping and extortion case.

• Gold proponent Peter Schiff advises the Federal Reserve to raise interest rates instead of cutting them.

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Alpha of the Day

Diamond Hands and ETF Growth: Bitwise CIO’s Take on Q2

The Bitwise CIO has a message for all you hodlers out there: institutions are tightening their grip on ETFs, and they’re not letting go anytime soon. In the second quarter, institutional holdings have been on the up and up, showing that even the big players have diamond hands. Forget about panic selling; these institutions are in it for the long haul. So, next time your portfolio dips, just remember, you’re in good company—some very stubborn, deep-pocketed company.

Digital Euro? Nein, Danke: Germans and Their Privacy Concerns

The Germans are not here for the digital euro, and it's not just because they love their physical cash. With privacy concerns looming larger than a beer stein at Oktoberfest, the German public is throwing some serious side-eye at the idea of a government-backed digital currency. They’re asking, “Why fix what isn’t broken?” and “Who’s watching my wallet?” The skepticism is real, and until these questions are answered, the digital euro might have to sit out in the cold.

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Ripple vs. SEC: The Saga Continues

Just when you thought the Ripple vs. SEC drama was wrapping up, Ripple’s Chief Legal Officer drops a plot twist: the SEC might not be done yet. The SEC, like that one ex who just can’t let go, could appeal the recent XRP ruling. So, while XRP holders might be feeling cautiously optimistic, it might be wise to keep the champagne on ice. This legal battle could still have a few more episodes before it’s ready to be canceled.

Ethereum Gas Fees: Bottoming Out or Just Taking a Breather?

An analyst has pointed out that Ethereum gas fees have hit rock bottom, and this could mean one of two things: either ETH prices are about to turn around, or they’re just taking a breather before another plunge. Think of it as ETH sitting on the couch in sweatpants, eating ice cream straight from the tub—resting before getting back in the game. Whether this is the calm before the storm or a chance to buy low, it’s got everyone on the edge of their seats.

Fear and Greed: The Index Creeps Up to 31

Today’s fear and greed index has ticked up to 31, which means the crypto crowd is feeling just a tad less spooked than yesterday. It’s like when you finally muster the courage to watch a horror movie with the lights off—still scary, but you’re getting there. This slight increase might not seem like much, but in the wild world of crypto, every little nudge toward greed could mean the market’s ready to take another leap of faith. Or, you know, it could be a false alarm—because that’s just how crypto rolls.

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India’s $144 Million Crypto Crime Crackdown

In a plot straight out of a Bollywood thriller, India’s Law Enforcement Directorate has nabbed some bad actors involved in a $144 million crypto-related kidnapping and extortion case. It’s got everything—drama, suspense, and a whole lot of Bitcoin. While the full story is still unfolding, one thing’s clear: crypto isn’t just for trading; it’s also, apparently, for high-stakes crime dramas. Let’s just hope the next chapter involves less extortion and more regulation.

Peter Schiff Wants Higher Interest Rates, What’s New?

Gold lover Peter Schiff is back at it again, this time telling the Federal Reserve to put the pedal to the metal on interest rates. Forget about cutting rates, he says; it’s time to hike them up. Schiff’s reasoning? Well, he’s got a lot of faith in gold and not so much in, well, everything else. Whether you agree with him or not, you’ve got to admire his consistency. After all, if Schiff’s not calling for higher rates and more gold, is it even really Peter Schiff?

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