Vanguard chops fees on *53* funds… Approx $250mil in investor savings just this year. “Vanguard is investor-owned. We have no outside stockholders or private owners profiting from our clients.” Nearly impossible for any asset manager to compete on fees given this structure.

Buyers of spot ETFs have paid avg of $84,100 per btc… Current price = $78,500 My guess is *vast* majority of assets in spot btc ETFs stay put regardless. “Spot btc ETF holders underwater” makes for salacious tweet, but think most = longer-term allocators. via @VildanaHajric

Literally some of the smartest people on earth have tried to exploit any bitcoin vulnerabilities or risk vectors… And it’s still here. 17yrs now. However it began, the code is out there for *everyone* to see. You all are wild.

This week's ETF buzz... (chart via @biancoresearch)

“For you” tab…

Year-to-date total return… GLD (gold) +13% PDBC (commodities) +10% IEMG (emerging mrkts) +8% IWM (us small caps) +6% IEFA (dev int'l) +5% VNQ (reits) +3% SPY (s&p 500) +1% QQQ (nasdaq 100) +1% AGG (us bonds) 0% SHY (1-3yr treas) 0% TLT (20+yr treas) 0% IBIT (bitcoin) -4%

*Coinbase* Clarity Act… Or *Crypto Industry* Clarity Act. Or one & the same? Will determine fate of regulatory framework for crypto assets.

2yrs ago everyone was saying decentralized prediction markets were a complete joke… Now same people (& pretty much all of mainstream media) referencing Polymarket Fed Chair odds. Absolutely love to see it. “There’s no use case for crypto.”

Trump… “I want to drive housing prices up for people that own their homes. And they can be assured that's what's going to happen.” "People that own their homes, we're going to keep them wealthy.” Boomers…

My conversation w/ @DavidDziekanski... We cover several @quantifyfunds: -IncomeSTKd Bitcoin & Gold ETF -IncomeSTKd US Stocks & Bitcoin ETF -STKd Bitcoin & Gold ETF -2x Daily Alt Season Crypto ETF Also talk recent crypto performance. via @CryptoPrimePod

My conversation w/ @DavidDziekanski... We cover several @quantifyfunds: -IncomeSTKd Bitcoin & Gold ETF -IncomeSTKd US Stocks & Bitcoin ETF -STKd Bitcoin & Gold ETF -2x Daily Alt Season Crypto ETF Also talk recent crypto performance. via @CryptoPrimePod

World’s *third largest* asset manager is launching stablecoin… Fidelity Digital Dollar. Riding on Ethereum. If you don’t see where this is all heading, not sure what to tell you at this point.

5yrs ago, you could have bought this pic or 1,100+ ounces of gold for the same price… Seriously.

Crypto political action committee has nearly *$200mil* war chest to oppose “anti-crypto politicians”… Crypto industry now wielding same type of power ($$) as traditional banking lobby has for decades. Can now play same games. Times are changing. via @olgakharif @emilymason00

On this week’s @ETFPrime, @ExchangiFi's @Matt_Bucklin joins host @NateGeraci to dive into the growing role of 351 exchanges. The pair explore how Bucklin's firm helps facilitate this increasingly popular, tax-efficient strategy. Plus, @ThemesETFs' @marino33p discusses thematic

*Tether* has become one of largest players in gold market… "We believe that the world is going towards darkness. We believe that there is a lot of turmoil.” Now holds 140 tons of the shiny metal in old nuclear bunker. Buying 1-2 tons/week. I’m serious. via @jackryanldn25

Silver investors…

Launching today… First spot avax ETF. VanEck Avalanche ETF (VAVX).

Wild to see sitting Florida governor & prominent US politician telling you what they view as future direction of their own country’s currency… Hope you’re paying attention.

Coinbase CEO on capital formation… “Eventually, you'll be able to go public entirely onchain, which will dramatically lower costs, reduce friction & increase access.” Correct. Will be much easier to raise $$$, benefitting both companies & investors. All *transparently*.

PSA… Social media, like cable news, is a *for-profit* business. It’s here to polarize you, anger you, cause a reaction, etc. It *needs* your attention. Especially your *negative* attention. The more polarized you are, the better. But it’s not real life. Hope this helps.

This week's ETF buzz...

Memecoin launches…

Trying to figure out whether the replies to my crypto tweets are real or AI bots…

Proposed bill in *Kansas* to create bitcoin & digital assets reserve fund… Kansas. Yes, I will do what I can here.

Pay close attention to who you follow & where you get your investing “news” & “insights”… Many are just seeking clicks & eyeballs. Many others have a *long* underperforming strategy to sell you. Often times it’s both. Be careful out there.

Bitcoin is up 90% since spot btc ETFs launched… S&P 500 up less than 50%. Spot btc ETFs shattered every ETF launch record (i.e. “Wall St embraced it & most people bought it”). This is all so tiresome at this point.

Financial advisors over allocated to international stocks the past 15yrs…

My conversation w/ @JSeyff on current state of crypto ETFs… We discuss: -Crypto ETF sentiment -150+ crypto-related ETF filings -Morgan Stanley crypto ETFs -BlackRock’s next move -Index & active crypto ETFs -Recent flows -What's next via @CryptoPrimePod

My conversation w/ @JSeyff on current state of crypto ETFs… We discuss: -Crypto ETF sentiment -150+ crypto-related ETF filings -Morgan Stanley crypto ETFs -BlackRock’s next move -Index & active crypto ETFs -Recent flows -What's next via @CryptoPrimePod

“Winter weather forecasts are more accurate than economic data forecasts”

First crypto company IPO of 2026 tomorrow… BitGo prices at $18/share. Implied market value of $2.1bil.

On this week’s @ETFPrime, @NateGeraci put his 2026 ETF predictions to the test with @Vetta_Fi's @MurphyCinthia. Later in the show, @StateStreetIM's Matt Bartolini covers small-caps, active ETFs, and what portfolio resilience looks like after a record year for active ETF inflows.

F/m Investments becomes first ETF issuer to file w/ SEC for tokenized ETF shares… Would be for the F/m US Treasury 3 Month Bill ETF (TBIL). "Tokenization is coming to securities markets whether we file this application or not.” - CEO Alexander Morris First of many.

Nice breakdown of tokenized assets by blockchain... Includes fiat-backed stablecoins. 65%+ are on Ethereum. via @BlackRock

My conversation w/ @intangiblecoins... We go in-depth on the CLARITY Act: -Background on bill -Why tradfi investors should care -Why crypto industry should care -Key sticking points -What comes next -Potential impact to crypto prices via @CryptoPrimePod

*NYSE* announced today that it’s developing trading platform for tokenized stocks & ETFs… Financial markets rapidly shifting towards on chain settlement.

This week's ETF buzz...

🔮We don't have a crystal ball, but... "Our base case? 2026 is going to be an up year.” -Christopher Jensen, @FTI_Global Director of Digital Asset Research via: @CryptoPrimePod | @NateGeraci

.@AstoriaAdvisors joins @NateGeraci on this week’s @ETFPrime to break down Astoria’s 10 ETF picks for 2026. Later in the show, @Vanguard_Group's Ryan Barksdale and @Wellington_Mgmt’s Kim Gailun discuss their collaboration in bringing Vanguard’s first active equity ETFs to