Last Chance

Hi Everyone,

If you haven’t done so already, feel free to take a moment to submit your comments to the SEC in support of the Bitcoin ETF.

The deadline for all feedback is tomorrow. Here’s the link.

Your submission doesn’t need to be complicated or wordy, a perfect example would be something along the lines of…

“I hereby wish to express my support for the VanEck SolidX Bitcoin backed ETF.”

Let’s see if we can show our support with positive responses.

Today’s Highlights

Greenday

Renminbi Line

Fidelity Goes Crypto

Traditional Markets

As if by magic, it seems like all the problems of yesterday have faded into the background and the markets are having a phenomenal day. Stock indices are green across the board.

They have fallen quite a bit over the last week or so, so it could be that they’re just taking a breather before deciding what’s next

Volatility has also come down by the end of the day yesterday, as evidenced by the VIX.

As well, the Bond markets were taking a bit of a breather, as we can see the yield on the US 10 year hardly moved during yesterday’s session.

Chinese Renminbi

Some data from China this morning confirmed that inflation is indeed on the rise. In this graph, we can see the CPI inflation levels in China since the financial crisis.

Though 2.5% a year isn’t all that high on a historical basis, we can see that inflation has been rising pretty steadily since early 2017.

There has been talk lately about the devaluation of the Yuan and everybody seems to be eyeing the level of 7 to the Dollar. In this graph, we can see that this level was tested in January 2017 and is now being tested again.