Donald Trump’s Bitcoin Speech & Ethereum’s Historic ETF Launches

Collective Shift

Join Matt and Nick as they cover Donald Trump’s speech at the Bitcoin 2024 conference, the launch of the Ethereum ETF launch in the U.S., and plenty more in what was one of the most important weeks for crypto so far this year.

Key Takeaways

• BTC and SOL continued climbing while ETH underperformed yet again. Notably, this price action unfolded despite stock markets around the world putting in another week to forget.
• The spot Ethereum ETFs went live in the U.S. and has $342M of net outflows after three days of trading. This was mainly due to holders selling Grayscale’s ETHE, which was expected. Once ETHE outflows subside, assessing the level of demand for these ETFs will get easier.
• U.S. presidential candidate Donald Trump said that, if elected, his administration would make the U.S. the “crypto capital of the planet” and “keep 100% of all the bitcoin the U.S. government currently holds or acquires into the future.” He also promised to remove SEC Chair Gary Gensler.
• Trump headlined a particularly eventful Bitcoin 2024 conference, which featured several announcements, including Senator Cynthia Lummis introducing a bill for the U.S. to buy one million BTC.
• Among the altcoin updates covered: Jito’s expansion into Solana restaking and Aave’s push to drive more value to the AAVE token.