The (real) summer interns are here. Listen for 10 minutes--minute 10 to minute 20--to remember how Hamilton set up the banking system and lowered interest rates for the benefit of the young U.S. economy. VanEck youtube.com/watch?v=q7LOxR…

SEC favoritism undermines innovation in the ETF market.

I’ve decided to take a beat & not comment on the Trump & Elon donnybrook Brouhahas happen, but these brannigans fade into kerfuffles before you know it — then all we remember is a silly shindy. [ we Irish have a lot of words for a fracas, don’t you know ]

2025 is turning into a revolutionary year for “crypto”: *public markets access (Circle IPO), and *Web2 companies use of stablecoins to improve margins (below) These are investable trends VanEck matthew sigel, recovering CFA

BREAKING: At last one hypersonic ballistic missile appears to have just been used by Iran on Haifa Israel. So sad to see things progress in this manner. The speed of this missile is insanely scary.

Background on Iran: *Iran used to be called Persia. *First Persian Empire was largest empire in the world to date, 550 to 330 BC *lots of dynasties, empires, caliphates, with Turkish, Arab and Asian influences; Arabs brought Islam *wars with Russia (silk road) and Britain

Legends

Thanks to @nasdaq and Adena Friedman for hosting us today. And congrats on the Nasdaq AxiomSL and Calypso deal!

Tax Alpha Isn’t Just for Index Funds 🧵 1/ Imagine you manage an ETF that bought $CRCL at IPO at $31. It rips to $300. You want to reduce exposure or exit, but doing so would saddle shareholders with huge capital gains.

VanEck Jan van Eck Luca Netz 🐧✳️ Matt Bartlett Legends 🥶

Index firms keep owning more of the world. ESG lawsuits have quieted BlackRock but the issue continues to grow. Vanguard had to split its operations in two to overcome ownership limits. Vivek Ramaswamy I discuss: vaneck.com/us/en/blogs/in…

If you need a laugh, check out this “safety” matrix before Anchorage Digital ⚓ pulls it down. According to the matrix, Circle’s USDC (world’s second largest stablecoin) and $AUSD (backed 100% by treasuries) have reserve issues. Jeremy Allaire - jda.eth / jdallaire.sol Oh, and by the way, AUSD’s reserve manager—

Now, in some serious news… Dinari whoop whoop Also, if people want to speak with tokenization and stablecoin experts, please comment in this thread.

for the record BitGo is not dropping $USDC support props to Jeremy Allaire - jda.eth / jdallaire.sol for building a great product and a great company

No way AI came up with this headline.

fantastic

Sam Jurrens, CFA Eric Balchunas All of X is paying attention to $HOOD

Join me for a live Quarterly Outlook with Thoughtful Money® at 11am ET. VanEck At this link: youtube.com/live/GHv6ymrUl…

What’s missing in most outlooks… *should we be overweight AI names (even more?) *Indian dynamism *budget deficits helping gold/BTC even though 10 year is confused * $HOOD and $CRCL Thanks Adam Taggart youtube.com/live/GHv6ymrUl…