C.R.E.A.M. #27 - The big Altcoin portfolio Update (Part 1)

Dear Lizards,

what a week!!! Bitcoin just took a hit, plunging 20.6% to $38,900 from its recent high of $49,000. Why? It was kind of the expected "sell the news event" after the first U.S. spot bitcoin ETF got the green light, and investors who bet big pre-approval decided to cash in.

A whopping $4 billion rushed into new spot bitcoin ETFs, but here's the kicker—$2.8 billion shifted from Grayscale, once the kingpin in regulated bitcoin investing. Adding to the drama, assets from bankrupt FTX hit the market.

Not surprisingly, Altcoins got dragged down too, taking a 17% tumble. In this issue of C.R.E.A.M. we will spill the beans on what this rollercoaster means, especially for the first batch of our altcoin portfolio.

Yours,
Stockmoney Lizards.