ETF Chronicles: The Bitcoin Race Heats Up

Spotlight on BlackRock, El Salvador’s Bitcoin Drive, and Visa’s Leap into Solana

Author

Jungle Degen
September 08, 2023

Greetings Crypto Explorers! 🌴🦜

Welcome back to the heart of the crypto-jungle, where the roar for the first Bitcoin ETF in the U.S. continues to echo. 🦁💰

This week, we’ll also swing through other thrilling headlines, from El Salvador’s Bitcoin education plans to Visa’s promise of faster payments with USDC on Solana. 🌍🚀

Fasten your seatbelts, explorers, as we continue our wild trek through the ETF saga and beyond.

As always… Stay Wild! 🌿🦁🚀.

PS: We might soon host a giveaway in the Twitter jungle, keep your eyes peeled! 👀

🦍 The Big Jungle Roar

This week's monumental event that shook the crypto-jungle. Roar with us!

Bitcoin ETF applications: Who is filing and when the SEC may decide

cointelegraph.com/news/bitcoin-etf-sec-deadline

As we trek deeper into the thick foliage of our ongoing financial saga from the last edition, the race for the first spot-traded Bitcoin ETF in the U.S. is reaching a fever pitch. This thrilling chase continues to be the heart of our jungle discussions. 🗣️🌿

Among the prowling predators, BlackRock stands out as the alpha, its $8 trillion in assets echoing through the jungle like a mighty roar. Its foray into the spot Bitcoin ETF race has stirred up a flurry of excitement and anticipation among the other creatures. 🦁💰

Let’s not forget about our other jungle inhabitants: WisdomTree, Valkyrie Investments, ARK Invest, VanEck, Fidelity/Wise Origin, Invesco Galaxy Bitcoin ETF, Bitwise, and GlobalX. Each is stealthily navigating the terrain and marking their territory in hopes of claiming this coveted prize. 🐯🏳️

Echoing through the dense canopy is the drumbeat of Grayscale’s recent victory against the SEC’s review of its spot Bitcoin ETF proposal. This has caused a ripple of optimism to spread through the jungle, as many now believe that approval chances for these funds have improved significantly. 🥁🌳

However, this wild ride is far from over. The SEC continues to exhibit the elusive nature of a jungle panther, delaying decisions on all applicants and keeping us in suspense until possibly early 2024. 🐾🌜

Even as we traverse this treacherous terrain, caution remains our guide. The SEC has expressed concerns about market size, price volatility, and potential fraud and manipulation for spot Bitcoin ETFs. However, with BlackRock’s bold entrance, it seems like the winds of change are rustling through the jungle foliage. 🍃🌪️

As we journey through this exhilarating landscape, we also keep an eye out for Ether futures-based ETFs. With a high possibility of an Ether futures-based ETF being approved soon, new paths may soon open up in our crypto jungle. 🦜🐘

✅ More on the crypto ETF approvals

🦁 King of the Crypto Jungle

Unleashing the top beasts of this week's crypto news. Beware, it's a wild ride!

🐒 Meme Monkeys

Hopping onto the funniest and savviest crypto memes that swung through the jungle this week.

🦜 Jungle Mystery of the Week

Can you solve our crypto-themed riddle? The answer lies hidden deep within the jungle. Share your guesses on Twitter and tag us! (we may gift someone some crypto 👀)

In the vast expanse of the crypto jungle, a silent hunter prowls, Neither coin nor token, it neither hoots nor howls. Invisible, elusive, it leaves no trace, Yet every transaction, it does embrace.

It doesn’t rustle leaves nor does it stir the air, Yet in the crypto ecosystem, it’s everywhere. What could this entity be, so vital, yet unseen? It’s the all-knowing, ever-present …

🦩 Tweets from the Jungle

Check out these wild crypto tweets that have made it to the jungle!

🐊 Crypto Swamp Watch

  • Bitcoin (BTC) - $25,788.79 (0.54%)

  • Ethereum (ETH) - $1,627.07 (0.63%)

  • Top Gainer: Synthetix (+13.72%)

  • Top Loser: Gala (-14.74%)

Snapshot taken on the 8th of September, around 1:07pm, Jungle time.

🍍 Jungle Poll Parrot

Join our parrot's poll! This week's squawk…

What kind of roar will ETFs make in the crypto jungle?

Login or Subscribe to participate in polls.

🐯 Jungle Snapshots

Our grand finale - Jungle madness, guaranteed wilder than any pump and dump. Enjoy, you crypto beasts!

Jungle exploration

👋 That's all for this issue of Jungle Tales! As we part ways, let's remember the wise words of a crypto degen:

In the crypto-jungle, it’s during quiet spells that we build our strength. Much like the mightiest creatures, we use these times to sharpen our skills and fortify resilience. It’s a period of learning and growth, preparing us for the exhilarating rapids of change. When the pace quickens, which it inevitably will, we’ll be ready to seize opportunities with newfound wisdom and strength.

Don't forget to share our newsletter with your fellow crypto adventurers, and follow us on Twitter X.

Until next time, keep exploring the wild world of crypto!

Pura Vida,

Jungle Degen

JUNGLE WARNING: Hear me, ye dauntless navigators of the crypto wilderness. This parchment holds no keys to monetary splendor. Consider it more of a cryptic map of the jungle, teeming with teachings, not a treasure chest marked with an 'X'. It neither mutters veiled secrets of investment, nor beckons you to swap your prized assets or enact any fiscal transactions. In this unpredictable crypto habitat, caution is your most trusted ally, and your own robust investigation, the steadfast compass. Equip yourselves with the shield of wisdom, as you traverse the intricate network of paths. Remember, swift success is often a false trail; it is through enduring patience, adroit maneuvering and careful strategy can you navigate this mysterious landscape. The jungle is vast and filled with enigmatic conundrums; let your own diligent research be the torch that dispels shadows. Don't be lured by the glimmering illusion of quick profits, but bend your will to the pursuit of genuine understanding. Keep your wits about you and eyes wide open on this crypto-quest. To cut a long story short, this is NOT financial advice. Safe travels, crypto explorers!hapcan