Crypto's Big Moves: ETFs, Policy, and Ethereum
Welcome to State of Crypto, the weekly investor-focused newsletter from 21Shares that dives into the key trends driving the digital asset landscape.
This week we’re unfolding:
•Bitcoin ETFs are cheaper than crypto stocks. Here’s why
•The GENIUS Act: What it means for crypto, stablecoins, and ETF investors
•Ethereum is back in the spotlight and the smart money is already moving
Bitcoin ETFs are cheaper than crypto stocks. Here’s why
Crypto-linked stocks like Strategy and Metaplanet are trading at steep premiums as investors seek indirect exposure to Bitcoin. Spot Bitcoin ETFs provide direct exposure and don’t come with the added concern of corporate risk. As these ETFs are widely available in the US and in much of Europe, the rationale for overpaying for proxy plays is getting harder to defend.
The GENIUS Act: What it means for crypto, stablecoins, and ETF investors
The GENIUS Act, now making its way through the US Senate, could become the most consequential piece of crypto legislation to date. Granting federal legitimacy to stablecoins opens the door to institutional capital, drives on-chain activity, and boosts the investment case for blockchains like Ethereum, Solana, and even Bitcoin.
Ethereum is back in the spotlight and the smart money is already moving
Ethereum is mounting a strong comeback. Institutional inflows are rising, public companies are adding ETH to their balance sheets, and major upgrades are in motion. As the network reasserts itself as the backbone of Web3, investors are paying close attention. We believe Ethereum's momentum is fueled by its fundamental strengths rather than market speculation.
In case you missed it:
What we’re following
June 18, 2025: The Federal Open Market Committee (FOMC) interest rate decision
June 24-26, 2025: Permissionless IV, New York, United States