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Crypto Alpha, 30 May 2024

Crypto Alpha, 30 May 2024

Daily Alpha on All Things Crypto, Web3 and Blockchain

May 30, 2024

TL;DR

Bloomberg ETF analyst predicts spot Ethereum ETF approval likely around July 4.
Deputy Governor Tao Ling: All financial activities must be legally supervised.
Fidelity’s Spot Ethereum ETF is now listed on DTCC.
China Asset Management (Hong Kong) is exploring asset tokenization STO and compliant stablecoin ecosystems.
Deribit options block trading shows short BTC volatility and long ETH positions.
Vanguard spokesperson: No plans to offer the proposed Ethereum spot ETF product for now.

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Alpha of the Day

Independence Day for Ethereum ETFs?

Just in time for fireworks, a Bloomberg ETF analyst predicts that the spot Ethereum ETF might get the green light around July 4. So, while you're grilling burgers and watching pyrotechnics, keep an eye on your crypto portfolio – it might just light up, too. Imagine celebrating America's independence with a side of Ethereum gains. It's like the crypto gods are planning their own celebratory explosion, only with less smoke and more digital confetti.

Fed’s Bostic: Rate Cuts, Coming Soon?

Federal Reserve's Bostic hinted that the fourth quarter could be when the Fed finally gives interest rates the ol’ chop-chop. It’s like waiting for the season finale of your favorite show, but with more charts and fewer cliffhangers. If you’re into thrillers involving percentages and inflation, this one's for you. Get ready to swap those high rates for something a bit more bearable, just in time for your holiday shopping spree.

Deputy Governor Tao Ling: Supervise Everything!

Deputy Governor Tao Ling declared that all financial activities need to be under legal supervision. Basically, if it moves money, it needs a babysitter. It’s like putting a leash on every dollar bill and crypto coin out there to make sure they’re behaving. Expect some serious rule-enforcing from the financial watchdogs – no more sneaking off for unsupervised adventures in the wild world of finance.

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Fidelity’s Ethereum ETF Hits the Big Time

Fidelity’s Spot Ethereum ETF just made its grand debut on DTCC, and it's causing quite the stir. It’s like the Ethereum ETF just got its first big role in a blockbuster. Now, investors can get a piece of the Ethereum action with the credibility of a Fidelity-backed product. It’s a major step forward for mainstream adoption, and it's got everyone in the crypto theater grabbing their popcorn.

China Asset Management Explores New Frontiers

China Asset Management (Hong Kong) is diving into the deep end of asset tokenization STO and compliant stablecoin ecosystems. Think of it as exploring uncharted territories with a treasure map in hand. They’re looking to bring some serious innovation to the financial seas, hoping to uncover digital gold and make the ecosystem as compliant as it is cutting-edge.

Biden’s Campaign Flirts with Crypto

Insiders reveal that Biden’s campaign team has started cozying up to key figures in the crypto industry. It’s like the prom dance of politics and cryptocurrency – who’s gonna lead, and who’s gonna follow? This sudden interest signals a potential shift in strategy, as the campaign looks to win over the tech-savvy crowd. Don’t be surprised if crypto becomes a hot topic in the next election cycle.

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Deribit’s Big Bets on BTC and ETH

Deribit’s options block trading data is in, showing a bold stance: short BTC volatility and long ETH positions. It’s like playing poker with your crypto cards showing. The market’s making some big moves, betting on Ethereum’s steady rise and Bitcoin’s rollercoaster ride calming down. Traders are in for a thrilling game – just make sure you’re holding the right cards.

Vanguard: No Ethereum ETF for Now

Vanguard's spokesperson has made it clear – no plans to offer the proposed Ethereum spot ETF just yet. It’s like showing up at a party and finding out the host isn’t serving your favorite drink. While other players dive into the Ethereum ETF pool, Vanguard's staying dry for now. Investors will have to wait a bit longer before they can sip on that sweet Ethereum ETF.

DOG·GO·TO·THE·MOON Hits New Heights

The unit price of Runestone DOG·GO·TO·THE·MOON just blasted past 10 sats, marking a new record. This memecoin’s got more lift-off than a SpaceX rocket. For those who believed in the power of the doge, it’s celebration time. This moon mission shows that in the world of crypto, even the most whimsical tokens can achieve astronomical success.

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Daily #Crypto Alpha | May 30 2024
• #Bloomberg ETF analyst predicts spot #EthereumETF approval likely around July 4.
• Fed's Bostic suggests the fourth quarter might be the time for an interest rate cut.
• Deputy Governor Tao Ling: All financial activities must be… x.com/i/web/status/1…
— WAGMI | Crypto, DeFi & Web3 News (@wagmiglobal_)
6:14 AM • May 30, 2024

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