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Health, Wealth, and Happiness

May 24, 2024

"No failure means no risk, which means nothing new."

- Richard Branson

Howdy, investors!

What a week! In today's column, we'll break down the two big stories in plain English, and explain how crypto investors can make the most of them.

Just four months after approving spot bitcoin ETFs, the SEC has given crypto investors another reason to be bullish by approving spot Ethereum ETFs.

This ETH ETF approval furthers the idea that institutions are ready for the massive adoption of Ether as an investment case.

The U.S. House recently passed the FIT21 bill, which promises to clarify the regulatory landscape for crypto. Read today's column for more!

Read on!

A Great Week for Crypto Investors

by John Hargrave

It’s been a great week for crypto investors.

We've seen two significant milestones: the passage of better crypto laws in the U.S. House of

Representatives, and the approval of Ethereum ETFs.

Crypto is new. The laws are old. This confuses regulators and investors alike.

For several years, we’ve been asking for “regulatory clarity,” i.e., better laws and better explanations of what's legal and illegal.

After all, if the laws are clarified, many people will build more crypto companies, which will benefit the world.

In today's column, I'll break down why FIT21 and the ETH ETFs are huge milestones for the crypto industry ... and investors like us.

Click for why we're celebrating and what it means for you >>

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Must Read

Today's most important stories for crypto investors.

SEC Approves 8 Ethereum ETFs including BlackRock and Fidelity (The Block)

As we covered in today's column, the SEC unexpectedly approved eight spot Ethereum ETFs from major issuers such as BlackRock, Fidelity, and Grayscale. Although you can't invest in these ETFs until they have filed their S-1s, some are already predicting ETH ETFs might accumulate $5 to $8 billion. (Hold that ETH!)

ETH Is Ready for Institutional Adoption (Bankless)

Following the approval of an Ethereum ETF, institutions are seemingly preparing to invest heavily in ETH. Some core reasons include:

The nearly decade-long track record of durability and reliability as the pioneer of smart contract technology.

The deep, liquid market cap of roughly $450 billion... a must-have for large institutional trades.

The clarity entering the ETH regulatory system, with many countries allowing ETH-based financial products.

In short, Ethereum is going mainstream, with the big money about to move in. (Hold that ETH!)

What is FIT21? (X)

Also covered today, the U.S. House recently passed the Financial Innovation and Technology for the 21st Century Act (FIT21), which aims to regulate the crypto market in the U.S. We're big fans of clear regulations to bring crypto investing into the mainstream, and this is a big step forward. Now, onto the Senate!

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Chart of the Day

Layer-2 Daily Active Users

Layer-2 solutions are crucial in the blockchain ecosystem because they address a significant hurdle for blockchains: scalability. They provide faster transactions, an improved user experience, and the scalability needed for growth.

Base, the Layer-2 developed by Coinbase in 2023, is one of the newest players in this ecosystem. Base has quickly overtaken most L2 competitors in transaction counts, revenue, and developers.

In line with its promise to bring one billion users to the blockchain, it has also closed the gap in active daily users, though it has been eclipsed in the past month by an explosion in Arbitrum users.

zkSync Era is also worth watching, as its usage is in line with that of Base. This makes for an interesting matchup to see which L2 chain can pull ahead. (See our Investor's Guide to Layer-2s for more.)

ICYMI