This Stat Suggests Rising Institutional Interest In BTC

Plus the SEC freezes a multilevel marketing slash mining scam's funds

Happy Friday, Blockfolians

The Lede

Over the last month, bitcoin futures and options have hit yearly highs of $558B and $3.1B respectively. Legitimate spot volume during the same period was around $106B.

According to The Block, the fact that derivatives markets are growing faster than stock markets reflects an increase in the participation of institutional investors, who tend to be more interest in these types of financial instruments.

It’s not, perhaps, surprising. This was the month after all, that Paul Tudor Jones started talking about bitcoin. It’s likely that his fear of future inflation possibilities and interest in bitcoin as an uncorrelated hedge are present in other parts of the market as well.

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Highly Relevant Reading

  • Robinhood users are crushing the game right now, and their interest in blockchain ETFs seems to be increasing

  • Bitfinex has spun out a new privacy-focused DEX that is attracting the attention of institutional investors

  • Uh-oh - Europol, the European Union’s law enforcement agency, is looking warily at privacy-preserving crypto wallets

  • According to a new research paper from the Philadelphia Fed, central bank digital currencies might one day replace commercial banks


Community Commentary

An excellent piece about where bitcoin fits in in the context of Lebanon’s banking crisis
There is a weird and interesting power shift going on in the markets where the Davey Day Traders seem to understand some things that the old guard don’t

A Really Big Number We Should Be Paying Attention To  

$12,000,000

That’s the value of assets the SEC is attempting to freeze from the “Modern Money Team” scam. Crypto mining and multilevel marketing. What could go wrong?


Final Thought

Always excited to see new content for people. Check out Anthony’s new ETH focused newsletter!