TL;DR

• The U.S. spot Bitcoin ETF had a $19 million net inflow yesterday, marking nine consecutive days of gains.

• BlackRock's Spot Ethereum ETF is now listed on DTCC.

• The ex-CEO of Heartland Tri-State Bank confessed to misappropriating $47 million to buy crypto, causing the bank's collapse.

• Messari reports Python's Q1 2024 value hit $7.2 billion, up 322% from the previous quarter.

• Dutch crypto fund Icoinic was acquired by Coinmerce and will now operate as Coinmerce Capital.

• The SEC’s trading and market department, not the chairman and commissioners, approved the spot Ethereum ETF.

• Grayscale's Stacks Trust is adding DApps to the Bitcoin ecosystem, increasing institutional interest.

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Alpha of the Day

Bitcoin ETF Keeps the Streak Alive

The U.S. spot Bitcoin ETF just had its ninth consecutive day of net inflows, raking in a cool $19 million yesterday. It’s like Bitcoin is on a winning streak, and Wall Street can’t get enough. This is basically the crypto equivalent of finding out your favorite band is doing a surprise encore, and it’s all thanks to some solid faith in BTC’s potential. Investors are piling in, hoping this trend continues and makes their portfolios look less like a roller coaster and more like a private jet. Here’s to hoping Bitcoin keeps up the good vibes and doesn't pull a 2008 financial crisis on us.

BlackRock's Ethereum ETF Hits the Big League

BlackRock’s Spot Ethereum ETF just got listed on the DTCC, giving it a major boost in legitimacy and visibility. This isn’t just any ETF; it’s like the Beyoncé of crypto funds. Now that it’s on the DTCC, it’s rubbing elbows with the big shots, ready to attract all the fancy institutional investors. Think of it as Ethereum getting its own VIP section in the finance club, where all the cool hedge funds and asset managers want to be seen. It’s a big win for Ethereum, and probably a nightmare for anyone still thinking crypto is just a fad.

Ex-Bank CEO's Crypto Gamble Gone Wrong

The ex-CEO of Heartland Tri-State Bank thought he could double down on crypto and come out a hero, but instead, he ended up crashing the whole bank. Admitting to misappropriating $47 million to buy crypto is like saying you bet your mortgage on a unicorn race. Unsurprisingly, it didn’t end well, and now the bank is in shambles. This guy basically pulled a “Wolf of Wall Street” without the happy ending. Maybe next time, stick to traditional investments or at least don’t gamble with other people's money.

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Python's Value Jumps in Q1 2024

According to Messari’s latest report, Python’s total value shot up to $7.2 billion in Q1 2024, marking a whopping 322% increase from the previous quarter. Python is clearly the crypto world’s glow-up story of the year, like that nerdy kid in high school who suddenly became a billionaire tech mogul. Everyone’s now wondering what’s behind this massive growth spurt. Is Python the next big thing in crypto? Looks like investors are hoping it’s more Mark Zuckerberg and less Elizabeth Holmes.

Biden's SAB 121 Decision Deadline Extended

Biden’s got some extra time to mull over the decision on repealing SAB 121, with the deadline pushed to June 3. It’s like when you get an extension on your term paper – you’re relieved, but also aware that procrastination might kick in. This move has everyone in the crypto world on edge, wondering if Biden will make a move that’s pro-crypto or if he’ll keep things status quo. One thing’s for sure: this is more suspenseful than waiting for the next season of your favorite Netflix series.

Icoinic Becomes Coinmerce Capital

Dutch crypto fund Icoinic just got snapped up by Coinmerce and will now strut its stuff as Coinmerce Capital. It’s like a corporate makeover show where Icoinic gets a new name, a fresh coat of paint, and hopefully, some new tricks up its sleeve. The acquisition is expected to shake things up in the crypto fund world, making Coinmerce Capital a name to watch. Think of it as a crypto Cinderella story, but with less fairy dust and more blockchain.

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Figure Markets Bags 784,000 SOL

Figure Markets just dropped a hefty $80 million to scoop up 784,000 SOL at an auction. It’s like they walked into an art auction and bought up all the Van Goghs. This massive purchase signals serious confidence in Solana, hinting that Figure Markets might know something we don’t. Either way, SOL’s price better be ready for a wild ride, because Figure Markets just gave it a major vote of confidence.

SEC's Ethereum ETF Decision Power Play

Turns out, the approval of the spot Ethereum ETF was decided by the SEC’s trading and market department, not the chairman and commissioners. This behind-the-scenes power play is like finding out the school janitor is the one making all the real decisions. It’s a big deal because it shows that there are more hands in the regulatory cookie jar than we thought. Now everyone’s wondering what other surprises are in store.

Grayscale's Stacks Trust: Bitcoin Meets DApps

Grayscale’s Stacks Trust is on a mission to bring DApps to the Bitcoin ecosystem, making it more attractive to institutional investors. This is like turning your mom’s old station wagon into a sleek, modern Tesla. By integrating decentralized applications, Bitcoin’s ecosystem gets a major facelift, potentially drawing in a whole new crowd of investors. It’s a smart move that could give Bitcoin some new street cred in the fast-evolving crypto world.

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