TL;DR

• The U.S. SEC has given the green light to Form 19b-4 for the Grayscale Bitcoin Mini Trust.

• ETHE experienced a net outflow of $356.3 million yesterday.

• The market anticipates that the Federal Reserve will cut interest rates three times before year-end due to recent positive inflation data.

• The founder of CryptoQuant predicts that the current Bitcoin bull market might continue until mid-2025.

• U.S. Congressman Bill Hagerty is actively promoting legislation to support Bitcoin.

• A U.S. judge has approved delaying the confiscation of FTX's PAC political donations.

• Ark Invest reduced its holdings in Coinbase and Tesla during the second quarter.

• U.S. presidential candidate Kennedy suggests that Trump might announce a plan for the U.S. government to purchase Bitcoin tomorrow.

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Alpha of the Day

SEC Approves Grayscale Bitcoin Mini Trust

Hold onto your crypto hats, folks! The SEC has finally approved Form 19b-4 for the Grayscale Bitcoin Mini Trust. This means that Grayscale can now offer their mini-me version of the Bitcoin Trust, which is basically like Bitcoin for beginners or those who just want a little taste of the crypto action without diving headfirst into the deep end. It's like the SEC said, "Alright, you can have your fun, but keep it small and manageable."

ETHE’s $356.3 Million Outflow

Looks like somebody pulled the plug on ETHE yesterday, causing a net outflow of $356.3 million. That's a lot of Ethereum getting the cold shoulder! Maybe investors needed to fund their summer vacations, or perhaps they were just having a bad crypto day. Either way, ETHE had a rough one, and the outflow was about as pleasant as a Monday morning without coffee.

Fed Rate Cuts Expected

In a twist that no one saw coming, the market now expects the Federal Reserve to cut interest rates three times before the end of the year. Apparently, positive inflation data has got everyone feeling a bit too optimistic. It's like the Fed is the DJ at a party and just realized everyone's ready for some slow jams. So, get ready for those rate cuts to (hopefully) keep the good vibes rolling through the end of the year.

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Bitcoin Bull Market Until 2025?

According to the crystal ball of the CryptoQuant founder, the Bitcoin bull market is here to stay until mid-2025. That's right, folks—it's not just a phase, it's a lifestyle! So, if you were worried that the party might end soon, relax and enjoy the ride. This prediction is like hearing your favorite band is going on a world tour for the next couple of years—plenty of time to catch a show and buy the merch.

Bill Hagerty’s Bitcoin Push

Bill Hagerty is on a mission to make Bitcoin great again. The U.S. Congressman is actively pushing for legislation that supports Bitcoin, aiming to give the digital currency the love and recognition it deserves. It's like he's the ultimate Bitcoin fanboy, rallying the troops and fighting the good fight on Capitol Hill. Go, Bill, go!

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Judge Delays FTX Confiscation

In a move that surely made FTX breathe a sigh of relief, a U.S. judge has approved delaying the confiscation of their PAC political donations. It's like getting a hall pass in high school—you know you're still in trouble, but at least you’ve got a bit more time to figure things out. For now, FTX can keep their donations, but the clock is ticking.

Ark Invest Sells Coinbase, Tesla

Ark Invest decided to play it cool in the second quarter by reducing its holdings in Coinbase and Tesla. Maybe they thought it was time to cash in on some of those gains, or perhaps they had a hunch that these stocks were about to hit a speed bump. Either way, it's like they decided to leave the party a little early, just in case things got too wild.

Kennedy’s Trump Bitcoin Rumor

Kennedy is stirring the pot with a juicy rumor that Trump might announce a plan for the U.S. government to buy Bitcoin. Just when you thought the crypto world couldn't get any more exciting, here comes Kennedy with a potential plot twist straight out of a political thriller. If true, this could be the biggest government crypto buy-in since... well, ever. Stay tuned, folks—tomorrow could be a game-changer!

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