Joined August 2022
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Jun 12
Physical collectibles are one of the few RWA categories already showing consumer-driven fee activity.
@Collector_Crypt generated ~$8.6M in 30d fees. @Courtyard_io generated ~$7.3M. Together, they did ~$15.9M.
That puts the category above most RWA protocols.
Most RWA fee leaders are tokenized funds, treasuries, credit markets, or asset managers. Collector Crypt and Courtyard correspond to a different demand source: retail users trading vaulted physical cards through onchain venues.
The NFT similarities are there: scarcity, status, fast floor prices, and crypto-native speculation all present. What differs is the asset base. Graded cards have an older collector market, offchain comps, and physical delivery if vaulting works.
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Jun 12
. @Theo_Network is cooking something big.
A multi-trillion-dollar institution.
Coming on-chain for the first time.
After years of negotiations.
At least that’s what @iggyioppe hinted at during our latest podcast episode.
Any guesses? 🙃
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Jun 12
1/ Hyperliquid is crypto's "Google moment", says @elindinga of @21shares on Market Cap with @stefanosanabria:
The first crypto product used out of necessity, not speculation. 24/7 price discovery across crypto, commodities, and pre-IPO equities like SpaceX.
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Jun 12
5/ Full episode here, digest below
x.com/AleaResearch/status/20…
Jun 10
On this Market Cap episode, our Director of Institutional BD @stefanosanabria speaks with @elindinga, Global Head of Research at @21shares.
Founded in 2018, 21shares is a crypto asset manager and issuer of exchange-traded products that provide investors with exposure to digital assets through traditional financial markets.
The firm offers a range of crypto investment products listed on major exchanges across Europe and other regions.
Chapters
02:16 Eli's Intro to Cryptography from a Navy SEAL
05:22 The Evolution of 21shares and Its Offerings
08:29 Understanding ETPs vs ETFs
12:56 Challenges in Launching New Crypto Products
16:49 Navigating Regulatory Landscapes in Crypto
20:27 The Importance of Research in Crypto
26:47 Hyperliquid: A Game Changer in Trading
33:41 Future of Hyperliquid and Market Dynamics
36:39 The Evolution of Tokenization and HYPE
41:28 Regulatory Clarity and Its Impact on ETFs
46:59 Exploring Future Sectors and Themes in Crypto
55:41 21shares Strategic Future Positioning in DA
01:04:00 Innovations and Insights from 21shares
—
On Market Cap we feature firms and funds to explore the thinking that guides them, the patterns they observe, and other forces moving the markets.
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Jun 12
6/ Full digest with key takeaways and timestamps on Alea: alearesearch.io/podcast-dige…
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Jun 12
SpaceX ($SPCX) begins trading today.
But for the first time, pre-IPO perpetual markets have spent months pricing one of the world's largest private companies before public investors got their first chance to trade it.
Here's the context before heading into IPO day
🧵👇
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Jun 12
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Prediction markets are pricing a 49% chance of SPCX's closing market cap in the range of 2.0T to 2.5T.
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Whether this is genuine democratization or simply a new distribution mechanism is the question.
What is clear is that IPO price discovery is no longer confined to underwriters and institutions.
SPCX's IPO today is one to watch.
We break down Hyperliquid's role, CBRS and QNT price discovery, and what SPCX is pricing into the open in this week's newsletter:
alearesearch.substack.com/p/…
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Alea Research retweeted
Jun 11
Tori Pre-deposit Vault opens June 23.
• Verifiably delta-neutral yield.
• Institutional-grade risk curation by @RockawayX.
• Real-time reserve transparency via @AccountableData.
• Infrastructure partner @upshift_fi.
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Jun 10
On this Market Cap episode, our Director of Institutional BD @stefanosanabria speaks with @elindinga, Global Head of Research at @21shares.
Founded in 2018, 21shares is a crypto asset manager and issuer of exchange-traded products that provide investors with exposure to digital assets through traditional financial markets.
The firm offers a range of crypto investment products listed on major exchanges across Europe and other regions.
Chapters
02:16 Eli's Intro to Cryptography from a Navy SEAL
05:22 The Evolution of 21shares and Its Offerings
08:29 Understanding ETPs vs ETFs
12:56 Challenges in Launching New Crypto Products
16:49 Navigating Regulatory Landscapes in Crypto
20:27 The Importance of Research in Crypto
26:47 Hyperliquid: A Game Changer in Trading
33:41 Future of Hyperliquid and Market Dynamics
36:39 The Evolution of Tokenization and HYPE
41:28 Regulatory Clarity and Its Impact on ETFs
46:59 Exploring Future Sectors and Themes in Crypto
55:41 21shares Strategic Future Positioning in DA
01:04:00 Innovations and Insights from 21shares
—
On Market Cap we feature firms and funds to explore the thinking that guides them, the patterns they observe, and other forces moving the markets.
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Jun 9
Tokenizing assets is only step one. Things get interesting when those assets become liquid, composable and usable in DeFi.
That is what @Theo_Network means by Tokenization 3.0.
In this episode, @iggyioppe breaks down how thBILL, thUSD and yield-bearing gold are being built for onchain usage and how they go from liquidity and integrations to revenue.
🎵 Listen up
Jun 9
When does an RWA protocol become a business?
@Theo_Network’s answer is tokenization 3.0 by making assets usable onchain.
thBILL, yield-bearing gold, stablecoin backed by gold carry.
220M in total TVL
@alenka_on_x and I dive into it on a new episode with @iggyioppe
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