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This weekly update tracks some of the largest cryptocurrencies by market share: bitcoin and ether. While both are considered to be high-risk when it comes to investing, the two have foundational differences that investors should know.

This weekly update tracks some of the largest cryptocurrencies by market share: bitcoin and ether. While both are considered to be high-risk when it comes to investing, the two have foundational differences that investors should know.

S&P 500 ETFs have done very well over the long term. But faster growth can be had with these two growth ETFs.

Bitcoin's capital flow story is off to a rough start in September. Utilizing data from The Block and CoinShares, I suspect over $1 billion in investment capital has left BTC. Network metrics and election uncertainty potentially explain the capital flow problem. However, seasonality for BTC, and by extension GBTC, should bode well through Q4. As BTC-proxy, GBTC works and will likely rise with price appreciation in the coin. But that's the only real reason to hold GBTC at this juncture.

In the last months, the GBTC ETF lost its crown as the largest Bitcoin ETF due to significant outflows and an uncompetitive 1.50% expense ratio. Grayscale may need to lower GBTC's fees to stay competitive. Until then, I don't recommend investing in GBTC. Bitcoin's recent price action suggests retail investors are accumulating and holding, awaiting institutional adoption. I base this assumption on ETF inflows and on-chain data.

This weekly update tracks some of the largest cryptocurrencies by market share: bitcoin and ether. While both are considered to be high-risk when it comes to investing, the two have foundational differences that investors should know.

Goldman Sachs and Morgan Stanley invested huge sums into spot bitcoin ETFs during the second quarter of 2024.

The SEC approved 11 Bitcoin Spot ETFs on January 10th, 2024, leading to over $10bn of assets moving away from Grayscale Bitcoin Trust. Grayscale Bitcoin Mini Trust (BTC) ETF emerged as the 6th largest Bitcoin ETF by AUM with the lowest expense ratio of 0.15%. As the market for spot Bitcoin ETFs matures, Grayscale Mini Trust is expected to grow and potentially become the third or fourth-largest Bitcoin ETF by AUM.

Grayscale launched BTC Mini Trust on July 30, 2024, carving out 10% of Bitcoin from GBTC with a lower fee ratio of 15bps. BTC offers a lower price per share compared to GBTC, making it appealing to retail investors with smaller accounts. Despite similarities in strategy, BTC may face liquidity challenges compared to IBIT due to lower volumes and AUM, making IBIT a potentially better investment option.

The long-term outlook of the digital asset looks promising, with both Donald Trump and Vice President Harris looking to improve the cryptocurrency landscape in the United States.