Bitcoin ETF on the horizon?

GM. You’re reading the blurtl newsletter. Our team of crypto journalists are here once again to save the day and cut through all the bull@%$# so that you can make smarter investing decisions.

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WHAT’S HAPPENING TODAY

• Grayscale wins against the SEC – bullish for Bitcoin ETF speculators

• Everything you need to know about Shiba Inu’s Layer 2 blockchain

• X obtains license to store, transfer and trade crypto

Bitcoin pumps to $28K – what caused it?

If you’ve been following the markets closely this week, you may have noticed a huge fat green dildo of a candle present itself on Tuesday. The sharp rise in price to $28K came off the back of news that Grayscale (the world’s largest crypto investment fund) won against the SEC.

Unfortunately for bulls the 8.5% move has slowly been engulfed with the price now sitting at a cool $26K. This didn’t stop whales cashing in however, with $388 million worth of Bitcoin getting bought just before the news broke. It wasn’t exactly a secret that news on the lawsuit would come this week, and if you had read our newsletter on Monday, you may have been able to get ahead of the curve.

Despite the reversal in price, this is great news for those who have been patiently waiting for Grayscale’s proposal of a Bitcoin ETF. This ruling now clears the path for Grayscale and competitors like BlackRock to try and be the first to bring a Bitcoin ETF to the US market.

Shiba Inu’s “Shibarium” relaunches with lower gas fees

With what comes as great news to SHIB supporters, Shibarium has reached a new milestone and reignited enthusiasm among investors. Don’t be fooled people, this is not a memecoin.

The end goal is mass adoption, and the Shiba Inu team is smashing goals with the new design. Not only are gas fees much lower, but a percentage of the fees are locked away to be burnt and used for network maintenance.

Shibarium has amassed a whopping 449K wallet address and has processed over 650K transactions.

These stats show that the blockchain is well on its way to mass adoption and more than capable of changing the crypto landscape.

Elon Musk’s plan for crypto and X

Since rebranding Twitter to X, Elon Musk has been making some serious moves to try and turn X into an “everything app”.

But what the heck does that mean?

Well… Part of that involves X becoming a payment hub. Somewhere where you can receive payments and make payments to anyone around the world.

This doesn’t necessarily mean that he intends to incorporate crypto into the app, however, a recent application for a license to handle crypto indicates something of that nature might be in the works.

The billionaire has already stated that X is a “DOGE-friendly place” and has now gone and gotten a “Currency Transmitter” license which allows X to store, transfer and trade crypto. This effectively makes the company one step closer to accepting crypto payments, something that crypto fans have been speculating is on the horizon for quite some time.

Meme of the Day (MOTD)

– blurtl