BlackRock Wants Maker's $1B Business

Trump's Incident & Crypto | BTC ETF Inflow

Marco Manoppo & Karon Pangestu
July 15, 2024

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Good Morning.

Trump’s assassination attempt has changed the entire playbook. I won’t turn this into a political newsletter, but let’s just say I think he’ll win unless the Dems do something drastic (translation: Newsome needs to run).

In Today's Email:

What Matters: Maker and BlackRock 🪨
Product: Free Blockchain RPCs 🆓
Charts: Trump’s odd on Polymarket, BTC inflow 📈

Narratives: The time to buy was last week after the massive dump. Do I believe it’s just up and to the right from now on? Not really, but the timeline is looking like its being pulled forward.

We are now publishing airdrop alphas on our telegram!

You read and share. We listen and improve. Send us feedback at marco@launchy.app.

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WHAT MATTERS

BlackRock and MakerDAO's 'Grand Prix'

Source: Tokenized Treasury Metrics - RWA.xyz

State of play: BlackRock and Securitize want to participate in MakerDAO’s “Spark Tokenization Grand Prix” through their tokenized treasury product.

The Grand Prix aims to onboard $1B of tokenized assets and will focus on short-duration US T-Bills plus similar tokenized products.
The application to participate in the Grand Prix will be open until 12 August 2024.
Superstate and Ondo also plan to participate in the Grand Prix.
Spark is an independent unit building tokenization infrastructure on MakerDAO.
Spark SubDAO will reinvest ~$500M to back the DAI stablecoin into the winners.

What’s next: The market for tokenized US Treasuries products tripled to $1.86B in a year, and MakerDAO's allocation would increase it by another 55%.

For builders and investors: Crypto is becoming more integrates with cash-generating RWAs

Although we like to meme about RWAs, more products onboarded will have second degree impact to the dynamics of onchain markets.

Take a peek at our referral reward at the bottom of this issue. Share this newsletter and receive our list of 500 crypto VC individuals 👇

PRODUCT OF THE WEEK

RPC Info: Free Blockchain RPCs

rpc.info

RPC Info is a simple site for finding RPC endpoints for blockchains. RPC Info is useful for developers building dApps or working with public blockchains.

RPC Info can be utilized by node providers looking for exposure.
Currently, there are 305 RPCs information on RPC Info.
An RPC is a node used to communicate in order to interact with a blockchain network.

Other cool products:

GemPad, a multi-chain decentralized launchpad.
Doubler, an asset yield rights separation protocol.
Bounty Bay, a TON-based social commerce platform.
Battlemon, a cross-chain dynamic NFT with Shooter game.
Europe Fantasy League, an on-chain football fantasy game.

CHARTS OF THE WEEK

Trump's Victory Odds Reach ATH

Source: Polymarket

State of play: Trump's odds of retaking the White House hit an all-time high on Polymarket after he was injured in a shooting at a Pennsylvania rally.

"Yes" shares in Polymarket's contract on Trump's presidential win rose ten cents to 70 cents after the incident, indicating a 70% chance of his victory in November.
On a traditional betting site, PredictIt, Trump's shares rose from 59 cents to 66 cents after the shooting before leveling off at 65 cents.
Trump-themed meme tokens surged after the shooting, with MAGA up 34% to $8.38 and TREMP up 67% to $0.6471.

Our take: A Reagan-like landslide is likely coming for Trump, which is good for crypto — as you can tell from the price action since the incident.

$310M US Bitcoin Spot ETF Net Inflows

Source: SoSoValue

State of play: US Spot Bitcoin ETFs had their best day since June 5 on Friday, gaining over $310M in net inflows, according to SoSoValue data.

Friday's +$310M net inflow marks six consecutive trading days of positive inflows to spot bitcoin ETFs.
The positive streak added $1B since July 5, reaching the highest cumulative net inflows since their January launch.
BlackRock's IBIT, the largest spot bitcoin ETF, led the inflows with $120M on Friday, followed by Fidelity's FBTC with $115M.

Our take: The market might be pulling forward given the impending Ethereum ETF trading approval + the Trump incident.

QUICK BITES

Trump will speak at a Bitcoin Conference.
SEC drops its probe into Hiro’s Stacks blockchain.
Judge grants Tornado Cash dev request to delay trial.
Dutch court denies bail for Tornado Cash dev Alexey Pertsev.
South Korea proposes pushing back crypto gains tax to 2028.
Celsius plans to liquidate tokens and NFTs following settlement.
OKX picks Malta over France as its Europe hub to comply with MiCA.
Morgan Creek Digital plans to raise $500M for a new web3 VC fund.

NOTEWORTHY READS & MEME

Coinshares’ read on Texas BTC miner due diligence.
Keone Hon’s read on owning customers and capturing value.
Greythorn’s read on Arweave AO computer market opportunity.

the ambani wedding is making me communist
— Neeraj K. Agrawal (@NeerajKA)
2:02 PM • Jul 14, 2024

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Disclaimer: All the information presented in this publication and its affiliates is strictly for educational purposes only. It should not be construed or taken as financial, legal, investment, or any other form of advice.