Europe Launches Bitcoin ETF 🚀

GM. This is Degen Scoop. It’s Wednesday, here’s the scoop:

• Europe Launches Bitcoin ETF 🚀

• Adidas Collabs With BAPE 👟

• Coca-Cola Sells ~$450K of NFTs 🤑

• Whale Moves 🐋

• Threads You CAN’T Miss 🧵

Europe Launches First Bitcoin ETF Under Jacobi Asset Management

Yesterday, Europe received their first Bitcoin ETF (not futures) and have beaten the US in the race. For Europeans, if you choose to invest in this ETF you can find it on Euronext Amsterdam; ticker is $BCOIN. We’re hoping that this release results in the floodgates opening. When it’s easier for retail to access crypto, everyone allocated in the crypto market benefits.

This ETF was actually approved in October 2021, but delayed their launch in the aftermath of the collapse of Terra citing unfavorable market conditions. As for fees, investors are charged 1.5% annually; this will be a juicy return for the larger American funds if they charge a similar amount. In all likelihood, American firms will be watching $BCOIN closely and its performance as a test case.

Adidas and BAPE Collab on Limited Edition Sneaker Release

Adidas has been busy in crypto having done a collab with Fewocious just two months ago. In their newest release, Adidas is working with BAPE to release just 100 pairs of a limited edition sneaker. The sneakers will be auctioned off and winners also received an NFT copy to use in the metaverse. In previous collabs, an auction was never done so this is new territory for Adidas.

We love seeing the increased collaboration between crypto entities and Web2 giants, we think it only grows from here. These sneakers also come with an NFC chip that is used as a certificate of authenticity. The auction will begin on August 23 and run for 72 hours, but everyone knows it won’t get interesting until the final couple hours. Bidding will start at 0.3 ETH (~$550).

Coca-Cola Sold $450K of NFTs to Base Users For Onchain Summer Event

While the NFT market is hurting everywhere, the technology is nowhere close to dying. Onchain Summer is the launch event for Base that includes daily mints and other things to do on-chain to celebrate the new L2. The NFT, ‘Vermeer, "Girl with a Pearl Earring"‘ is a mashup of bottle art across the history of Coca-Cola.

At the time of this writing, over 60,000 tokens of this NFT have been minted so far and will run until midday Wednesday. Base has seen a significant amount of action with this initiative, especially when they can get a name like Coca-Cola to come join the launch. While there might not a bullish narrative to buy this NFT, it’s clear that the market is happy buying open editions and simply holding art for what it is.

Notable NFT Sales in the Last 24 Hours:

Notable Threads You May Have Missed:

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Conclusion

Touch grass, hit the gym, and don’t forget about what’s really important outside of magical internet coins.

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DISCLAIMER: This newsletter does not constitute financial advice. This is strictly educational and should not be used to make any financial decisions. Be responsible and do proper due diligence before aping.