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📺 ETH Video Part 1 👉 https://www.youtube.com/watch?v=R5VEDVj0oJw
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– TIMESTAMPS –
0:00 Intro
1:25 Importance of Investor Demand
3:30 Grayscale Demand
6:15 Institutional Surveys
8:30 Top Addresses Holding ETH
9:45 Top 10k Address Audit
11:12 Miners are Hoarding
12:30 Derivatives Open Interest
14:12 Longs vs. Shorts
16:18 Conclusion
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⛓️ 🔗 Helpful Links 🔗 ⛓️
► Adam Cochrane top 10k BLog: https://medium.com/@adamscochran/the-10k-audit-42c100dd32bb
► Santiment: https://app.santiment.net/
► PWC Report: https://www.pwc.com/gx/en/financial-services/pdf/pwc-elwood-annual-crypto-hedge-fund-report-may-2020.pdf
► Fidelity Survey: https://www.fidelitydigitalassets.com/bin-public/060_www_fidelity_com/documents/FDAS/institutional-investor-study.pdf
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🔖 Sources 🔖
► Half ETH Mined: https://decrypt.co/26740/grayscale-is-buying-half-of-all-newly-mined-ethereum-eth
► Grayscale Institutional: https://www.hedgeweek.com/2020/04/17/284781/grayscale-reports-record-inflows-cryptocurrency-funds-q1-back-strong-hedge-fund
► Grayscale Institutional: https://www.hedgeweek.com/2020/04/17/284781/grayscale-reports-record-inflows-cryptocurrency-funds-q1-back-strong-hedge-fund
► Miners Accumulating: https://twitter.com/santimentfeed/status/1273324026044256257
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1️⃣ Grayscale Fund 1️⃣
Currently, this Grayscale fund is the second most popular cryptocurrency fund and has an AUM of over 360 million dollars in it.
Over the past year it has seen an explosion in growth and in the last 6 months alone it has bought over 756 thousand ETH.
Over on the open market, shares in this Grayscale Ethereum fund are selling for an amazing premium. At the time of this video, investors were paying a 788% premium to purchase the Grayscale funds over the spot ETH price.
2️⃣ Crypto Fund Surveys 2️⃣
In the Fidelity Digital assets survey, they found:
– 80% of investors find something appealing about the asset class
– 36% say they are currently invested
– 60% said that crypto has a place in their portfolio
– 11% said they had exposure to Ethereum
When it comes to the PWC Report, in total, crypto hedge funds saw their AUM double from 1 billion to 2 billion over the year.
You also saw an increase in the average size of these funds with the percentage of funds with greater than 25 million AUM increase from 19% to 35%.
3️⃣ Whale Addresses 3️⃣
Taking a look at the ‘top holders’ metric over here you can see that the percentage has increased from about 11% in October of last year to over 15% today. Whales have increased their position by more than $550 million in the past 6 months.
The number of whales has also been increasing. The author observed that a number of those new wallets in the top 10k addresses had their first transaction associated with an exchange.
Miners are also stashing ETH that is being newly mined. They are hoarding it in order to have heft when the PoS mining starts with Ethereum 2.0
4️⃣ Open Interest 4️⃣
Open interest in the futures market for Etheruem futures is at an all time high as traders want to get exposure to ETH in the derivative markets. It has gone from just under $300 million in March of this year to over $750 million today.
We have seen similar moves in the options market as Traders have been swamping deribit and buying Etheruem options.
5️⃣ Long / Short 5️⃣
Traders have bought more long futures positions than short. For example longs make up over 91% of the volume of futures instruments over at Bitfinex. They are 91% of the total futures volume on the exchange.
This has been trending upwards since the beginning of the year and has never been below 50% at any stage since December of 2018. I had a look on a number of other exchanges and there was a similar pattern.
You also have a low Put-Call ratio for all the options in the market. This means that investors are buying more Calls than Puts and implies that they are more bullish.
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📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.
#Ethereum #ETH #crypto #bulls #institutions #investors #cryptocurrency
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