- 2036
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- 👀 Is it time to buy more ETH?
GM everyone. This is 2036.
On Monday, I wrote that memecoins were looking attractive. Since then, many of them are up +30-50%.
The big driver is the return of risk-on sentiment, what I referred to as ‘macro summer.’
And what a week it was.
The Trump campaign turned openly pro-crypto, started accepting crypto donations, and vowed to build a crypto army to defeat the Democrats.
Then, the Democratic Party (including Nancy Pelosi) pivoted from its anti-crypto stance to voting in favor of a Republican-backed crypto-friendly bill in the House this week.
What caused the sudden 180?
Biden is losing the young vote in the US to Trump… and ∼30% of adults 18-45 own crypto.
Crypto industry veterans have been huge campaign contributors in recent years.
… so, House Democrats sent Biden and the SEC a message that the anti-crypto stance wouldn’t fly with voters much longer.
The SEC heard it loud and clear: It could approve Ether ETFs as soon as today.
On the news, ETH jumped +22% - its biggest single-day gain ever.
This is huge news for the industry.
An Ether ETF would almost certainly categorize ETH (and potentially many other cryptos) as a commodity, and the CFTC (which regulates commodities) is much more light-touch than the SEC.
It would start providing the regulatory clarity US crypto investors and founders have been waiting for nearly a decade.
So, with:
Trump openly pro-crypto
The Democrats turning pro-crypto
Regulatory clarity
An Ether ETF
… you probably aren’t bullish enough.
All eyes will be on the Ether ETF today and how ETH trades in the next few weeks.
ETH and ETH betas (including some memes) have already rallied, but on such short notice, I don’t think the positive news is fully priced in yet.
At this point in the cycle, the biggest risk is not being allocated enough.
🎯 Want to invest in early-stage crypto opportunities before everyone else?
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.