Jeff Park @dgt10011 Twitter profile | Pikagi

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Jeff Park

@dgt10011

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Head of Alpha Strategies @BitwiseInvest // Rainmaker of @Chainforestxyz &🗽 @FWBtweets // ex- @morganstanley and @stanford

NYC

Joined March 2009

Don't wanna be here? Send us removal request.

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@dgt10011

Jeff Park

3 months

Many institutional investors are conditioned very early to believe in a concept called the "illiquidity premium". This premium is the supposed incremental return that compensates an investor for owning an asset that is not highly liquid. This idea of buying illiquidity as a

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@dgt10011

Jeff Park

10 days

My colleague @Matt_Hougan writes an excellent weekly memo, where he recently advocated for the consideration of $ETH as a technology investment akin to high growth tech plays like $NVDA and $FB. This was the very last sentence of the memo. What does that actually look like? 👇

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@dgt10011

Jeff Park

5 months

Moved into the Hypercastle today. Terraforms by @mathcastles is one of the most incredible things I've ever seen. Credit to big brain @_DinoART

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Jeff Park

4 months

“Based on my observations, there is no pattern to Bitcoin’s movement at all.” “That's because you do not understand the fundamental nature of the world. The chaotic era will end precisely on April 20th, and we will enter a glorious stable era for four years.”

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Jeff Park

3 months

Every day Bitwise tracks #BTC Demand from US ETFs vs. New Supply. Today, we honor the halving by bringing attention to the below. At Block 840,000, Bitcoin’s rate of supply growth permanently decreases - while US interest costs continue to exponentially increase. GM to T-0.

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@dgt10011

Jeff Park

5 months

People complaining BTC vol is down post-ETF, but: $FIL up 30% two days ago (SOL integration) $WLD up 40% yesterday (NVDA + Sora) $UNI up 50% today (Fee switch) $[] up/down []% tomorrow (alpha) Volatility is back. Alpha is alive and well in crypto.

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@dgt10011

Jeff Park

2 months

This might be the first time in $GLXY history where Asset Management revenue was greater than Global Markets and Others (excluding balance sheet P&L). Bullish crypto asset management

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@dgt10011

Jeff Park

3 months

Family office conference conversations today- One asked about taker/maker fee models One asked how to value crypto assets using flows data Few asked "gross/net" exposure in crypto multi strat wrapper Many asked about ETH Noone asked whether crypto is here to stay Leveling up

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@dgt10011

Jeff Park

3 months

I took a class at the Stanford Law School my senior year and Mahbod was my TA. He was the most unique TA I ever had - a brilliant person. As he complimented my strong intuitions for the field, he also told me to avoid it like a plague. Funny because at the time I also thought the

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@dgt10011

Jeff Park

2 months

Congratulations to my extraordinary colleague @teddyfuse who celebrates his 6 year anniversary at Bitwise. As the Head of Alpha Strategies at @BitwiseInvest , it is not only my privilege but responsibility to drop some serious alpha leaks here so follow closely and ape right in👇

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@dgt10011

Jeff Park

2 months

Renaissance Technologies 13F (🙏 @tripalthreat ): 32500 ARKB 26500 BITB ✅ 14500 FBTC 94900 GBTC 24100 BTCO 21300 BTM The late Jim Simons has a background in cryptography and found early success in commodities trading. The "financialization of Bitcoin" alpha is alive and well.

@dgt10011

Jeff Park

3 months

All of this financialization in crypto creates unique trading opportunities for those who can navigate the fungibility of each product to its underlying markets. Ultimately liquid trading strategies is long financialization; increasing financialization is very good for alpha.

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@dgt10011

Jeff Park

4 months

#ThreeBodyProblem arrives on Netflix today! Who else is ready to meet the Trisolarians?

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@dgt10011

Jeff Park

4 months

As a former President of Blyth Fund, I wholeheartedly approve this! 🙌 Proud of the work that is still being done by this great group at @Stanford . Though hopefully we can change to BITB soon :)

@kolelee_

Kole Lee

4 months

Stanford Endowment has bought Bitcoin at 45k. In February, pitched IBIT to Blyth Fund, the student-run fund which manages a portion of Stanford's Endowment. Bitcoin is now ~7% of the portfolio. Here's the pitch that convinced them to buy:

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@dgt10011

Jeff Park

4 months

A generous gif by a generous fren 🙏, thanks Linus!

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@dgt10011

Jeff Park

3 months

Non fungible legends🗽 @GrailersDAO @Station3NYC

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@dgt10011

Jeff Park

18 days

Will be live tweeting Gary Gensler from Bloomberg Summit 👇

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@dgt10011

Jeff Park

16 days

In 2024, the line between strategic patience and willful neglect got thinner and clearer for considering an allocation to crypto. It was an honor to represent crypto at Institutional Investor, and a special privilege to experience it with my wonderful colleagues at Bitwise.

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@HHorsley

Hunter Horsley

17 days

Many know Bitwise for our index products. Newer and not as widely known, Bitwise's Head of Alpha Strategies, @dgt10011 , leads an exceptional team focused on alpha. Jeff is brilliant, modest, curious, and kind. So happy to see him recognized as one of Institutional Investor's

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@dgt10011

Jeff Park

5 months

gm generals it’s a particularly beautiful day to climb

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@dgt10011

Jeff Park

1 month

When I joined the MS trading desk, I was given three books: Natenberg's Option Pricing and Volatility, @jackschwager 's Market Wizards, and @nntaleb 's Dynamic Hedging In hindsight, these books not only honed my trading but also my ability to recognize the opportunities in crypto

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@dgt10011

Jeff Park

3 months

I'm often asked by thoughtful investors: "Assuming #BTC does become de facto store of value, then why do we need so many other coins?" The answer to this - is that some coins will become "store of data" Then it's really up to you decide whether you consider data to be valuable

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@dgt10011

Jeff Park

30 days

I didn’t believe in the Heinsenberg Principle until I met @Matt_Hougan . Everywhere, anywhere, anytime, all time. Truly physics defying. From our breakfast, to CNBC, to now here at the Coinbase Summit delivering more “aha” moments with exclusive intel from the Bitwise fronts

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@dgt10011

Jeff Park

4 months

Hypothetical scenario: BTC breaks 70k today, gaps to 71k. Investors helplessly watch, impatiently waiting for Monday morning market open. They buy at 9:30AM, filled at 73k. “A-ha” moment as they realize the significance of 24/7 liquidity without arbitrary institutions

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@dgt10011

Jeff Park

5 months

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@dgt10011

Jeff Park

3 months

For four years, I’ve been buying $6 croffles for the kids at our local coffee shop. They raised the price to $8 this weekend. I finally decided to take the matter into my own hands, and do my part to help bring rates lower. AMA.

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@dgt10011

Jeff Park

4 months

Being a long gamma trader putting on a short gamma trade is a special kind of pain reserved for the most masochistic. I’m looking at all you folks short $MSTR, thinking it’s free money when hedged with a beta adj. long $BTC. Not realizing, in fact, you’re short $BTC all along

@Excellion

Samson Mow

4 months

I don’t think the hedgies really understand the $MSTR trade. If they understood it, they wouldn’t short it.

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@dgt10011

Jeff Park

4 months

🟢

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@dgt10011

Jeff Park

4 months

Bitcoin 62K+ FF7 Rebirth My son got into schools

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@dgt10011

Jeff Park

5 months

If you're wondering whether to buy #BTC here, you probably missed the Trend/Momentum signal around Feb 1st at ~$43k It likely means you also missed the Funding Arb today at 60% APY w/ 0 beta which is arguably better risk-reward Dynamic capital rotation ➡️ "All-Weather" $$$

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@dgt10011

Jeff Park

2 years

Got my first @join_royal royalty payment from @3LAU ! What a revolution. Just the beginning.

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@dgt10011

Jeff Park

4 months

Today is as good a time as any to refresh some Bitcoin basics: 🔸Bitcoin is an excessively leptokurtic asset 🔸Bitcoin is highly reflexive with positive autocorrelation 🔸Bitcoin is long vega but also long theta The last bullet is the key. No other asset in the world like that

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@dgt10011

Jeff Park

4 months

My smart HF friends waiting for $BTC to "pull back" to buy because everything is already "priced in" reminds me of the same folks who didn't want to buy $AMZN after AWS revenue was broken out for the first time in 2015 bc it was now "already priced in" NEWSFLASH: It's not.

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@dgt10011

Jeff Park

2 months

Non-asset backed Private Credit is going to explode so fantastically in your face, and when that happens, there’s a ~50% that the only asset that will be up is #bitcoin I understand why institutional investors “have to” invest in private credit. Be the CIO that’s one step ahead.

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@dgt10011

Jeff Park

2 months

You know you’re flying to Consensus when the person in front of you is talking about the futures basis trade 50% margin requirements post ETF world and the girl behind you looks EDM ready in a Paxos T-shirt

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@dgt10011

Jeff Park

4 months

gm it's a brand new week

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@dgt10011

Jeff Park

2 months

🇺🇸 Tech tree unlocked 🇺🇸 #EtheruemETF

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@dgt10011

Jeff Park

1 month

Key Considerations for Running a Successful Trend Strategy in Bitcoin To run a successful trend strategy, there are two main components: 1) signal generation (using trend filters), and 2) sizing. In practice, CTAs (Commodity Trading Advisors) can enhance returns by using

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@dgt10011

Jeff Park

5 months

And we're off!

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@dgt10011

Jeff Park

5 months

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@dgt10011

Jeff Park

2 months

My favorite question that investors ask: “After 10+ years of existence, why on Earth is crypto still so volatile, so inefficient, and so freaking complex?” “Because it is the most liquid commodity on Earth”

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@dgt10011

Jeff Park

3 months

For 4 painful years, our car only played Sesame Street, Raffi, Disney. Then Trolls entered the scene. Now I create new playlists of Chance, *NSYNC and Camila Cabello, and when my kids ask where the songs are from, I say Trolls 4 or Trolls 5. We are slowly reclaiming our lives.

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@dgt10011

Jeff Park

3 months

Good morning Asia Let the fireworks continue. 160 by US Monday $BTC hatch still open (for now)

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@dgt10011

Jeff Park

1 year

Well, looks like one of @BitwiseInvest top 10 predictions already came true. $COIN 🔥

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@dgt10011

Jeff Park

2 months

$61k at 61°F

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@dgt10011

Jeff Park

28 days

I’ve said this before and I’ll say it again. Don’t underestimate the alpha of @teddyfuse vacation calendar.

@EricBalchunas

Eric Balchunas

28 days

UPDATE: we are moving up our over/under date for the launch of spot Ether ETF to July 2nd, hearing the Staff sent issuers comments on S-1s today, and they're pretty light, nothing major, asking for them back in a week. Decent chance they work to declare them effective the next

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@dgt10011

Jeff Park

5 months

@joemccann spot on as usual. The meta insight here was that post ETF you knew there were literally thousands of Buy Limits sitting on every mother's IRA and FOMO institution wishing for a DIP (nice try) where the downside skew was going to be mispriced. The upside was .. obvious

@joemccann

◢ J◎e McCann 🧊

5 months

And to think all you had to do was sell $40k puts to buy $60k/$70k end of March call spreads for a 20:1 trade. Costless.

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@dgt10011

Jeff Park

6 months

When your 4yr old son brings #lasereyes home… #bitcoin

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@dgt10011

Jeff Park

9 days

Happy 4th of July, USA!🇺🇸 In these times of national dysfunction, remember what #Bitcoin can be, unburdened by what it has been - for the community banks in the community where we understand the community, the capacity of community - by the significance of the passage of time.

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@dgt10011

Jeff Park

2 years

What is #crypto ? When I was 11, my dad tried to explain to me what a common stock was: he said, “you’re a part owner and entitled to profits.” I asked “But if I’m an owner, why doesn’t the CEO know who I am? And why don’t I get the profits?” Shrug.

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@dgt10011

Jeff Park

3 months

Try harder @teddyfuse

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@teddyfuse

Teddy Fusaro

3 months

I think you want to do this. Just to be safe.

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@dgt10011

Jeff Park

4 months

"How much of the current bull market cycle are we through?" A beautiful thing about blockchain is that it leaves permanent footprints of various "alternative data" that no traditional finance rails do (at least publicly). Here's one of my fave clues to answer this question👇

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@dgt10011

Jeff Park

1 month

This is a fantastic expose of the secondaries business. @CliffordAsness wrote a great piece back in 2019 about the illiquidity discount where "attractive smoothness of returns may not come for free." We're just about to find how much it cost over the next few years. Stay tuned.

@mcelarier

Michelle Celarier

1 month

Buying for 80 cents on the dollar, marking it up immediately to par. No wonder PE secondaries are the top performing alternative asset class. The Little-Known Secret to the Success of Secondaries

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@dgt10011

Jeff Park

7 months

You know what’s interesting these days? Proof-of-Work my friends. #bitcoinisinteresting #Bitcoin

@BitwiseInvest

Bitwise

7 months

A word to the wise, from a man of few words. #bitcoinisinteresting

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Jeff Park

24 days

Coincidentally, 2140 is the approximate year of the last Bitcoin reward issuance- Change is FAST. Im commemorating Juneteenth today by reading @resistancemoney . The crypto movement can likely liberate more people around the world much faster within our own adult lifetime! #BTC

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@dgt10011

Jeff Park

4 months

Incredible dispersion across exchanges today. Great for market making P&L. PSA: We are now less than one week away from the expiration of the Bank Term Funding Program on March 11. This is Act I.

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@dgt10011

Jeff Park

2 months

Fixed this story for you @michaellachlan @mccormickliz

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@dgt10011

Jeff Park

2 months

Agreed, and Bitwise planted its seeds nearly 2 years ago

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A New Frontier for Digital Asset Investing

To access alpha in this asset class, institutional allocators have to fundamentally reset their assumptions.

bitwiseinvestments.com

@fintechfrank

Frank Chaparro

2 months

Hearing this everywhere Lot of VCs should return the money or set up a liquid strategy or find some smart liquid funds to deploy into and run a FoF

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Jeff Park

1 month

By the way, hows that $MSTR trade working out so far? 1x1 spread below. Even if you beta hedged BTC to 2.5x, still down 20% without including borrow costs for 3 months.

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@singularity7x

Juan Leon

1 month

Kerrisdale misunderstands the value accretion opportunities miners have to earn fee revenue outside of block rewards, host AI applications and develop L2 revenue streams. Not to mention where we are in the bull cycle. Additionally, they are misguided on the environmental impact

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@dgt10011

Jeff Park

24 days

Walked by an empty Meatpacking District the other night and felt such unimaginable heartsick sadness for Gen Z- -that they may never savor the sweet taste of Cranberry vodka while grinding to Ne-Yo and Pitbull meeting strangers not in oversized pants and button up cardigans Sad

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@dgt10011

Jeff Park

2 months

The most painful part about April wasn't that Bitcoin was down 17%. It was that implied volatility also decreased by ~25 points. The dreaded inverse skew, when negative vanna fails. Every trader's nightmare.

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@dgt10011

Jeff Park

4 months

💥MONTHLY NARRATIVES ROUNDUP Biggest winners in Feb 2024 were: Identity, AI, and Memes (displacing Bitcoin Narrative, and LSD) Honorary mentions for UNI (fee switch), ETH (ETF+Denver) and DOGE (🐶) for Top 20 Market Cap MTD performance winners Lets get into it!🧵

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@dgt10011

Jeff Park

10 days

Bitcoin’s high volatility is not the crime. It’s that fiat can be tinkered via its issuance schedule with capricious manipulation that artificially represses its natural price in the name of purchasing power - by a human. Bitcoin’s core economic design 𝗜𝗦 why it is volatile.

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@dgt10011

Jeff Park

3 months

Gm to T-6 with some sugar glaze and honey butter

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@dgt10011

Jeff Park

10 days

But is 90/10 the right mix, or are there alternative allocations? For long-term minded investors, it might pay to allocate more to ETH! With a 70/30 Index over 3.5 year, you can almost triple your NDX-only return, with only a ~50% increase of volatility.

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@dgt10011

Jeff Park

9 months

“It is not that we had any unfair knowledge that other people didn’t have, it is just that we did our homework. People just don’t want to believe that anyone can break away from the crowd and rise above mediocrity.” - Paul Tudor Jones

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@dgt10011

Jeff Park

10 days

The 90/10 mix of Nasdaq and Ethereum with monthly rebalance indeed generates a higher simplified Sharpe ratio across various time series. Just like $BTC adds value to a 60/40 portfolio, $ETH adds value to a modern technology portfolio. The 1-year total return chart shows you how.

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@dgt10011

Jeff Park

5 months

T+2 to T+1 settlement: “Every facet of market structure stands to be reshaped by this evolution” (also could cost $31Bn annually - for investors) Imagine instant settlement. The opportunity for disruption has never been greater.

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@dgt10011

Jeff Park

2 months

A healthy body is a healthy mind

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@dgt10011

Jeff Park

9 months

To cross the Rubicon from “trading by appointment” 200 years ago to “permissionless networks” in the future - is the bridge built between by Bitwise today.

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@dgt10011

Jeff Park

4 months

At a pre-K school's welcome today: "The #1 thing we teach our pre-schoolers is to take risk. Because that is how you build resilience. One simply can't happen without the other. " Left a strong impression. Life starts so early. Thankfully, my son got a headstart with crypto.

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@dgt10011

Jeff Park

2 years

One of the key takeaways from Permissionless is that “Web3 Wallets” are quickly becoming “Web3 Profiles” - and the fight is heating up on all fronts from @LensProtocol on the Decentralized Social to @CoinbaseWallet (software) @Ledger (hardware) to @RobinhoodApp on the CeFi side

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@dgt10011

Jeff Park

5 months

Well, that happened quickly.

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@dgt10011

Jeff Park

5 months

On technicals, everything about trend momentum + oscillators, in addition to dealer gamma positioning points that we might be transitioning from 'sticky price' to 'sticky delta' regime soon. $50k+ incoming faster than you think.

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@dgt10011

Jeff Park

27 days

On Father’s Day, I was gifted the luxury of time so I went to @metmuseum by myself, a place I haven’t returned since COVID, but practically lived in during my 20s. Here are my fives revisited, timelessly unchanged but always new ⬇️

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@dgt10011

Jeff Park

4 months

My favorite DMs to start the day

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@dgt10011

Jeff Park

4 months

I watched the pilot for Netflix's #ThreeBodyProblem and here are my initial thoughts (no spoiler, and hopefully additive to those who may not have read the books): 👇

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@dgt10011

Jeff Park

2 months

For those who want to honor Jim Simons, I encourage you to donate to @MathforAmerica . MFA was one of the first charities I got involved with at the start of my Wall Street career. Coincidentally my future wife, who was a public school chemistry teacher at the time, received

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@dgt10011

Jeff Park

3 months

Or different take: $GLD is about $64bn AUM, which is roughly same as: @EricBalchunas analysis is not wrong but misses a fundamental point. HK ETF market is small because the equities market is underdeveloped and considered speculative Asians know gold🪙

@EricBalchunas

Eric Balchunas

3 months

Latest on HK spot Bitcoin ETFs: They have been approved to exist but not launch (yet). Rumor has it launching next wk so to not compete w Dubai conf. Don't expect a lot of flows (I saw one estimate of $25b that's insane). We think they'll be lucky to get $500m. Here's why: 1. HK

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@dgt10011

Jeff Park

7 months

Would you rather own 0.1 shares of $39,000 or 1000 shares $39? Another unintended, but very real side effect of ETFs. The timeless tried and true magic of stock splits, but this time for crypto - 1000 for 1. Perceptual revaluation is a powerful thing.

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@dgt10011

Jeff Park

5 months

In hindsight, it really was such a beautiful day. Liquidation heatmap from yesterday morning to today:

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@dgt10011

Jeff Park

5 months

gm generals it’s a particularly beautiful day to climb

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@dgt10011

Jeff Park

4 months

Very close to hitting a potential liquidity gap at $71,845. Position accordingly.

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Jeff Park

3 months

On Ethena FUD: there's two kinds of basis blowout. The rapid kind in which dislocation is probably a +P&L event (can close out the short perp cheaper) The slow death kind implies extreme bear or ETH inflationary. Hedgable slippage IMO Also basis risk != JTD risk, so not LUNA

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@dgt10011

Jeff Park

4 months

When I posted the below 2/27, BTC was 57k. 3 weeks later, BTC has round-tripped back to 62k and funding has come in from 70% to 15% (see below) That is the simple crypto multi-strat alpha thesis. You won't always get it right, but it's better to be the house over the long run

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@dgt10011

Jeff Park

5 months

If you're wondering whether to buy #BTC here, you probably missed the Trend/Momentum signal around Feb 1st at ~$43k It likely means you also missed the Funding Arb today at 60% APY w/ 0 beta which is arguably better risk-reward Dynamic capital rotation ➡️ "All-Weather" $$$

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Jeff Park

2 months

An enduring lesson from my exotics options days is that whenever someone makes you a true 10:1 digital market and the event attention is significantly outsized and also enduring, you should buy the tail at a small size Sandy reinsurance Brexit Trump FTX claims Add ETH ETF

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@dgt10011

Jeff Park

4 months

Trend, leverage , liquidity: After 40+ days of "Significant Uptrend", today is the first day it broke down to "Uptrend" on BTC Momentum Funding meanwhile looks healthy again at <15% Looks fairly balanced, then you look at the CLOBs and it looks quite thin to the upside.

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@dgt10011

Jeff Park

6 months

BLOOMBERG - Bridgewater Associate's flagship hedge fund lost 7.6% last year, with all of the drop coming in the last two months of 2023, according to people familiar with its performance Sounds like BW investors need crypto alpha, because those were literally the two best months

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@dgt10011

Jeff Park

4 months

👇 These two posts are in fact greatly related

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@dgt10011

Jeff Park

5 months

3 types of alpha traders in their high school days: - those who took Calc BC junior year - those who consistently made deep runs on WCOOP - those who were in detention Best was all 3

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@dgt10011

Jeff Park

4 months

One of the quirks of Ken Liu's English translation is that the English version starts with the Cultural Revolution prelude instead of the "present day" as it does in Cixin Liu's original text. Cixin Liu shared he had always intended the story to start with the Cultural

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@dgt10011

Jeff Park

2 months

I just wanted to share that @teddyfuse went golfing today in the morning, and to a Yankees game this evening. Do not fade this alpha signal.

@dgt10011

Jeff Park

2 months

3️⃣When Teddy goes on his rare vacations, momentous things happen. I noticed it first in summer 2022 when 19b-4s would take life whenever Teddy was away. It happened again in Jun23 and again in Aug23. @Matt_Hougan also intuited this recently, which is why he shared the below:

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Jeff Park

19 days

#BTC 3 StDev 30-day historical at 05:33:26 Haven’t gotten this alert in a while

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Jeff Park

3 months

Privacy is trustlessness Trustlessness is censorship-resistance Censorship-resistance is decentralization Politicians conflate anonymity and privacy, but they are fundamentally different, and not illegal - independent of each other - both only possible with decentralization

@muneeb

muneeb.btc

3 months

Privacy should be normal, not illegal.

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Jeff Park

1 month

Planted these bulbs during COVID and after all these years…

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Jeff Park

1 month

No other industry suffers as hard as crypto for a lifetime of glory that is worth a moment of pain

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Jeff Park

8 months

The regulated market of significant size is now also the dominant market

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Jeff Park

2 months

Ignore the incoherence, the rambling, the elderly vibes for just a second. What's actually important here is that the Chair of the Council of Economic Advisers literally just FAILED Economics 101. Bernstein at 00:53: "The government definitely lends that money by selling bonds"

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@RnaudBertrand

Arnaud Bertrand

2 months

This is absolutely priceless. And probably the most frightening clip you'll ever watch on the people in charge of the US economy. Jared Bernstein is literally the Chair of the Council of Economic Advisers, the main agency advising Biden on economic policy

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Jeff Park

12 days

Just as Eurodollars first emerged in Europe while the US turned a blind eye, USDC too must now embark on its hero’s journey across the Atlantic, 70 years later.

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Jeff Park

2 months

@BitMEXResearch It’s clearly Jared Bernstein buying Bitcoin to hedge himself. Only thing that makes sense

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Jeff Park

2 years

Amidst this drama, good time to reflect on one of my favorite Market Wizards quotes: “Traders focus almost entirely on where to enter a trade. In reality, the entry size is often more important than the entry price”

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Jeff Park

4 months

As SEC claims that $COIN engaged in unregistered sales of securities, remember how SEC refuses to opine on whether CORPORATE LOANS ARE SECURITIES? Explain how there is no investment contract nor common enterprise in that $17Tn market first before any mention of blockchain plz

@jchervinsky

Jake Chervinsky

1 year

A federal court told the SEC to file a brief analyzing whether syndicated loans are securities. The SEC asked for more time twice, and then *refused to answer.* Why? Maybe because it would've shown that their theory of the securities laws is nonsense. @fund_defi investigates 👇

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Jeff Park

2 months

In conclusion, we need to send this man on more vacations. If anyone can turn April around, there is no more capable individual than this chad of a renaissance man. The hero crypto twitter desperately needs today, tomorrow and for rest of his many years at Bitwise! We salute you.

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Jeff Park

3 months

March, as noted by BTC's wild swing in price (+ATH), was a dynamic month by all measures - though perhaps most notably by volume. Spot bitcoin ETF monthly trading volume almost tripled in March, hitting above $110Bn as the CME in concert notched a record monthly high of $200Bn.

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Jeff Park

2 months

Feeling an impulsive tingle of “Bootlegger”-y today for Yefim Bronfman. I wonder if @amortowles approves?

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