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đź‘‘ King Of The Hill
Grayscale Bitcoin Trust was just dethroned as the largest Bitcoin fund by this upstart.
Sebastian Soran
May 31, 2024
TGIF, Zingernation! Trump’s MAGA coin jumped 7% despite — or, perhaps, because of — the former President’s conviction in a criminal trial.
Today, the iShares Bitcoin Trust to become the largest Bitcoin fund, PayPal shares rise to $90 and more.
Plus, our partner brings a first-of-its-kind digital solution to the global commodities supply chain sector.
MARKET SNAPSHOT
TOP STORY
Briefly: The iShares Bitcoin Trust (IBIT) has surpassed Grayscale Bitcoin Trust (GBTC) to become the largest Bitcoin fund.
So Basically: Since its inception in January, IBIT has quickly garnered investor interest, accumulating nearly $20 billion in assets.
So Then: The competitive dynamics between IBIT and GBTC have intensified, with both funds vying for market share.
So Whatrs: This increasing competition among Bitcoin ETFs is a positive indicator for the market, driving innovation and potentially lowering costs for investors.
TOGETHER WITH RESOURCE STOCK DIGEST
Amazingly, the $11T global commodities sector still runs primarily on paper transactions and phone calls!
And thus, a comprehensive digital solution for moving commodities around the world has been long, long overdue.
One tiny company — trading completely undiscovered around 15-cents per share — has successfully partnered with some of the largest players in the industry to bring a first-of-its-kind digital solution to the global commodities supply chain sector.
For investors, it’s an early-stage opportunity in a company with a true first-mover advantage in a globally diversified sector.
Click here to read more
FIVE ZINGERS
Long-Awaited: Visa and Mastercard will pay $197 million to settle a class action lawsuit over high ATM fees.
Sea Change: Ark Invest’s sells nearly $28M worth of Robinhood shares.
New Era: Elon Musk is reportedly advising Donald Trump on crypto policy.
Assets Boom: “Re-staking” platforms have drawn $18 billion in crypto assets, attracting investors with the promise of higher yields.
Under Siege: Ethereum has been the most-attacked blockchain in 2024 so far, and suffered 43% of May’s losses.
FINTECH FOCUS
Briefly: PayPal shares rise as Mizuho analyst Dan Dolev upgraded the stock to Buy and raised it's price target from $68 to $90.
What Happened: Dolev’s analysis of PayPal’s new Fastlane product indicates a potential $1.0 billion-$1.5 billion transaction margin increase over the medium term, based on the $1.43 trillion annual e-commerce spend addressable by Fastlane.
What Else: Dolev’s new 2025 revenue and transaction margin estimates of $34.6 billion and $14.81 billion are up from $34.4 billion and $14.75 billion, respectively.
Why It Matters: Fastlane’s ultimate TAM could be $3 trillion. Dolev estimated that $1.43 trillion is realistically addressable by Fastlane in a potential unbundled payments world (à la Stripe).
TOGETHER WITH RESOURCE STOCK DIGEST
Amazingly, the $11T global commodities sector still runs primarily on paper transactions and phone calls!
And thus, a comprehensive digital solution for moving commodities around the world has been long, long overdue.
One tiny company — trading completely undiscovered around 15-cents per share — has successfully partnered with some of the largest players in the industry to bring a first-of-its-kind digital solution to the global commodities supply chain sector.
For investors, it’s an early-stage opportunity in a company with a true first-mover advantage in a globally diversified sector.
Click here to read more