Quant Reveals Bitcoin ETF Approval Will INSTANTLY Bring $1T to Crypto

The crypto landscape is on the brink of a seismic shift! A groundbreaking report from CryptoQuant predicts that the approval of a Bitcoin spot ETF could instantly double the total market cap of the crypto sector, adding a staggering $1T. With Bitcoin currently valued at $550B and Ethereum at $190B, the total crypto market cap stands at $1.08T. Could we be on the cusp of a monumental leap?

In This Episode:

• CryptoQuant Report: Spot ETF Approval Could Add $1T to Crypto Total Market Cap (2x the Total MCAP)
• Fidelity Amends Spot ETF Application Alongside Ark Invest and Invesco, Suggesting Ongoing Discussions With SEC (Bullish?)
• Stablecoin MarketCap at $120B. Stablecoins Are the 16th Largest Sovereign Holder of US Treasuries (Too Big to Fail, Soon?)
• Reddit Shuts Down Their Own Crypto "MOON" as They Say it Couldn't Find PMF
• Jack Dorsey's "Block" Announces First Prototype of Next-Gen ASIC Circuit Board for BTC Miners
• GBTC Discount Now at -13.11%, Closest to Net Asset Value Since Dec 2021
• Not Much Exciting News from the SBF Trial so Far This Week - Nishad Singh Takes the Stand with a "Hazy Memory"

In a strategic move, Fidelity, alongside Ark Invest and Invesco, has amended its Spot ETF application, hinting at possible ongoing discussions with the SEC. Is this a bullish sign for the future of crypto ETFs? Meanwhile, the stablecoin market cap has surged to $120B, making stablecoins the 16th largest sovereign holder of US Treasuries. As they grow in influence, the question arises: are stablecoins becoming too big to fail?

In a surprising turn of events, Reddit pulls the plug on its "MOON" cryptocurrency, citing a lack of product-market fit. On the tech front, Jack Dorsey's "Block" unveils the first prototype of its next-gen ASIC circuit board for Bitcoin miners. And for those tracking the GBTC, its discount is now at -13.11%, the closest it's been to its net asset value since December 2021. Lastly, the SBF trial continues with Nishad Singh taking the stand, but with a rather "hazy memory". Dive in as we unpack these developments and explore their implications for the crypto world!

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