The Keynesian beauty contest and K-level reasoning: Ethereum spot ETF edition.

- Level 1: ETF approval is bullish for ETH; buy the news and keep holding.
- Level 2: approval is already priced in, real approval will be a sell-the-news event; sell the approval.
- Level 3: ETF will

Longed some ARB:
- Most hated ETH beta: down >50% since ATH, BTC pair at all-time lows
- Relatively close to local lows
- Most importantly: BlackRock's BUIDL fund is looking to deploy tokenized securities on Arbitrum, this recent proposal seems to have gone under the radar:

Historically, ETH/BTC upside tends to be captured within a short period of time (1-2 months).

If the ETF gets approved, I do not expect this time to be different.

This is one possible scenario: approval of 19b-4 but not S-1.

In my opinion, this is better than having both approved at the same time (and thus ETH ETF to start trading immediately).

This way, we will get approval without the immediate selling pressure of Grayscale's ETHE ($9b

Although very different in nature, the raising of approval odds from the ETF bros has the exact same effect as the Cointelegraph intern's fake Bitcoin ETF approval; everyone is now finding out they are underexposed to ETH.

Many reasons why I’m bullish on Base becoming the most used retail chain this cycle (i.e. next 1-2 years).

Expressing that view by holding tokens of Base’s central liquidity hub.

This time was not different

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youtu.be/ZwVW1ttVhuQ