Today’s Nuggets
Best Day of the Week for the BTC ETFs?
ARK Experiences Record Day
Do Not Fade Pension Funds
Vanguard’s Plot Twist
MSTR Added to the MCSI
CPI Changes Fed Rate Trajectory
Cuba Collapse
REKT Shorts
Macro View of the World
Today’s story is about how Bitcoin's GAME THEORY has just been activated!
The data we will share demonstrates that Bitcoin accumulation is back and stronger than ever!
I knew folks were bored the other day but I said these are the times right before something big happens.
Of course - in a matter of hours - look what happened.
Bitcoin is up 8.2% for May!
BTC was essentially flat for the month the other day and has recovered a significant portion of the April losses.
What is going on?
Tuesday is the best flow day for the BTC ETFs but it is not just the ETFs that are stacking; other groups are back, which we will discuss in this lesson.
Yesterday, ARK experienced a record day of inflows, which is huge at this stage.
ARK bought 2,200 Bitcoin yesterday, or a $133 million purchase.
When I posted this, I suspected something was about to change…
Firstly, the recently released 13F filings were getting a lot of attention. This has begun to trigger new institutional flows into Bitcoin and the Grayscale outflows have slowed.
I will share proof in this lesson that non-ETF cohorts are also stacking. You will see that when sentiment is in the toilet and people are giving up, that is when the market returns every time, like clockwork.
Where are these funds coming from?
When I saw that the state of Wisconsin was getting into the game, I was like: “Whoa, this is a game changer”.
So why do pension funds matter?
They need alpha for their $27 trillion in assets and tens of millions of members.
Cathie Wood’s firm spends a lot of time on the road working with these types of organizations.
This is probably where the $133 million came from the other day.
Pension funds have a market cap of 27 times that of Bitcoin - this is just one cohort.
By the way, I heard that the Wisconsin Pension Fund is extremely well-run and liquid.
If you look at the top 10 pension funds that are in play:
California Public Employees has nearly half a trillion in assets;
Wisconsin Investment Board ranks number 9 on this list; and
There are hundreds of these pension funds.
This top 10 list has over $2T in assets under management.
1% of $2T is $20 billion - a massive amount of money that would move Bitcoin’s price.
Pension funds are just one sector in the U.S. alone that is pouring money into this asset class that is the hardest on the planet.
This is the stuff that excites me and I hope it does for you as well.
Pine Ridge Advisors disclosed they have $205 million in these new ETFs.
This makes up 23% of their $900 million in assets under management - the highest allocation I have seen from a fund.
This is beginning to turn heads and investors are beginning to realize while it is volatile: it is far less risky than lots of other assets.
BoothBay Fund Management now owns $300 million in the ETFs as well.
Based on its assets under management, BTC has a 2.5% allocation which seems to be a confluent number. This is a well-known and respected New York money management firm.
This is all just beginning! I now have a running list of over 500 banks and investment allocators.
The answer will be
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