 Welcome to Jalassette News, the top stories in cryptocurrency and Jalassette's, and break them down to bite-sized pieces. Today, there was an interesting article, trading at 369 percent premium, a new crypto fund astounds even the bulls. And this is an article that kind of concerns me because it's dangerously close to a mania. So we'll go over that article in a bit, but first let me remind you that it is the 12 days of Christmas. So we've already given away stone books, ledgers, wallets, trade the chain, $100 worth of cryptocurrency or USDC yesterday, and also a crypto trader tax for three lucky winners. And today we're moving on to the I trust capital crypto IRA. It's gonna be three months plus a free swag bag. So again, unfortunately, this is only for American customers. And if you were ever looking to get into a IRA that takes your crypto currencies and actually protects you from taxes, this would be the time to do it. Now, if you've got a traditional IRA, if you have a traditional IRA somewhere else, an old employer plan like a 401k, 403b, military TSP or a 457, then you can move them tax and penalty free. Usually we talk to the experts over at I trust over into a cryptocurrency IRA. So if you were ever thinking about it, this would be the time as you get three months off and a swag bag. So all you have to do to win this offer is just put I trust in the comments below and also the country that you live in. Remember it is only for USA. So I trust USA and we'll have the team at I trust draw one lucky winner and that'll be given out by tomorrow. Also the company that custody is all the cryptocurrency for I trust is called Curve is institutional grade. And what they're looking to do is to get into DeFi. There is going to be a round table discussion on the 22nd to be hosted by Larry Sirmak. I guess he's the research guy at the block. We have Aite, Malinger, the co-founder and CEO of Curve, Stanley Kulichaf, co-founder and CEO of Ave. Who will also be on the show this week to talk about Ave. Phil Kelly from consensus and Vance Spencer from co-founder of Framework Ventures. So this is going to be an interesting one because they're talking about how institutions can get into DeFi through Curve. And I bring this up because as Curve gets into the adoption of DeFi, these DeFi tokens will also be available on the I trust platform. The only cryptocurrency IRA platform that is going to be allow DeFi tokens. I will leave this link in the description below and you can just sign up for the free registration and watch what exactly is going on. I will be there. So come on and join us. All right. So let's jump in this article. This is this is interesting, but I think it's crazy. I think it's a little bit too much. And I'll just let you be the judge. So a small digital asset fund saw its share price balloon almost 400% than the value of Bitcoin and ether tokens that it holds. So imagine this, you, you are a fund manager, you wake up like, wow, 369%. That's not a bad deal. And people keep buying. The dislocation means large investors such as hedge funds, family offices with mom and pop investors are paying up for access to the fund instead of buying its underlying holding outright for far cheaper. But you have to understand, lot of these institutions, they cannot buy cryptocurrencies and hold it by themselves. They need someone to custody it. And that is the whole point of this type of fund. Also grayscale. That's why they have these premiums and they have no problems paying for it because smart money knows exactly where it's going. I mean, heck, the CIO of Guggenheim was just on CNBC or another outlet and said, Hey, we've been buying a Bitcoin 10,000 because we know it's going to 400,000. That is insane. But that is the world we live in. So anyhow, the new fund that indexes the top digital coins is easily accessible through online brokerages provided a recipe for a mind-boggling distortion, which is pretty cool. Like, I mean, we have the S&P 500 where it takes the top 500 companies. And here, I guess this this fund has 10 of the top digital coins, which, you know, that's exactly what a lot of investors are used to. They're used to index funds. And they're like, Hey, I don't have time to research all these different cryptocurrencies. I don't know what it does. Just give me the top 10 and I'll buy it all day long. And that's what's happening. But there's a problem that people who are buying into crypto are saying, I don't understand Bitcoin, just give me some kind of construction. This was from Kyle Samani, co-founder of managing partner at Multicoin Capital. I don't think they can justify the premium. I just think they don't know what they're buying. That's not justifiable. That's just ignorance. And that's true. That's a problem. Because when you get into something like this, where people are like, I don't know what's going on, but you know what, give it to me. There is a recipe for disaster there. Because when people have to understand exactly why cryptocurrencies are so powerful, why digital assets are going to be the big thing, then they start to understand, okay, well, this project doesn't make any sense. Even though it's on the index, I really get out this index and put my money into just Bitcoin, just Ethereum, just whatever fill in the blank that they think is really right for them. The problem is when people invest into assets, they have no idea what's going on. And they start to sue the company because they're like, hey, you never gave me the right information and blah, blah, blah. This is the same thing happened with XRP. And you saw that the investors, which unrightfully so, they sued Ripple, even though honestly, I think the case should be thrown out, but has to have his day in court. And that's what's screwing over Ripple right now, because they can't get the legal stance to not be deemed a security, because that's the whole problem with it. That's a whole other video. I think right here, people need to be aware and they need to actually understand what cryptocurrencies are. So the bitwise 10 crypto index fund has sort of 340% since the debut on December 9th, because when I was reading this, I'm like, I haven't heard this at all. I haven't heard anybody talk about it. It's just kind of one of those things that went out of the radar that I haven't, I mean, even even caught a whiff of, and here we are. But that's the craziness that is going on right now. There are so many positive stores, I guess you'd call them, that are coming out, you know, people making these price predictions, big institutions getting into it. I mean, everything that's going on. So now we have this crazy index fund that has super high premiums, and no one's bad and I, it's like, this is the new reality. This is the new normalcy, because there's just so many things that are happening. Anyhow, premiums to NAVs or net asset values sometimes crop up in the world of exchange traded funds or ETFs, but rarely do they exceed a move of 3% or so. So imagine this, you get an ETF and across the board in different locations, you know, might be 1%, 2%, maybe 3%, which is crazy. And here we are with 369%. Security regulators have not approved the ETF format for cryptocurrencies. So no such intermediaries exist for Bitwise's fund. And that's where there is an arbitrage opportunity. And we'll get that in a second. James Safer, analyst at Bloomberg Intelligence said this, it's a mania because there's only so many shares to go around. It doesn't make sense. There's no reason somebody should be paying this type of premium. Again, people know what they're doing, but they know they're gonna make a lot of money at some points like, hey, bring it on. Now I'm going to skip this paragraph to talk about this last one, which will make sense. The reason why they're saying bring it on is because demand for the Bitwise fund, which attracted almost 150 million, need not be limited to that trade. Anyone who bought on December 9th has seen shares more than quadruple in value. Those sort of returns can feed on themselves, attracting the next better bet horror, hoping to ride the rally. And that's not a Ponzi scheme per se. But when people start to look at all the gains that are made, that is when FOMO really takes over. People don't care what they're getting into. They're like, what is that? Well, I don't know what it is, but just give me more of that because I saw my friend Jack, he just made forex. So I want to make forex. So here's my money. Take my money. And that's that. Again, as soon as these types of things happen, of course, the price is going to go up exponentially, but that's not healthy. And he started to get all the different naysayers and fudsters and like Nairobi or what do I do? His name is that economist who comes out and says it's all a bubble. And you keep hearing that and you see like the gold bugs. It's a bubble. It's not a bubble. It's just the way it's just the evolution of finance. And that's really what's going on just that people don't understand it and they're getting into it. So this is the last part. And this is where all kind of comes together about why why this premium is just that it is what it is. A more favorable explanation could be that there's an arbitrage opportunity that some hedge funds take advantage of in a similar fund called the grayscale Bitcoin trust, where the dislocation also exists in that trade. The investor buys Bitcoin deposit grayscale fulfilling the funds need for tangible assets. So you have to understand with Bitcoin or with grayscale, their Bitcoin trust, they're not selling Bitcoin. They're buying a Bitcoin like crazy. And they're saying to investors, look, we'll custody it. We'll give you paper Bitcoin, but there's a premium. How much is the premium? Well, this is from WhyCharts. The premium right now is at 35.79%. And you can see going over the past year, it doesn't. I mean, it's been low at 13%, which again, 3% is mind-boggling for the traditional markets. And what it's been high up here at 41.42. And that's just for the year. Let me see here. I'm going to go back three years. What's the high over here? Geez Louise, 89, geez, almost 90%. So people have no problem paying this, because again, their institutions, we can't custody it. Who can custody it? You guys can. Great. Here's the premium. We know it's going to 100,000, 300,000, whatever you want to believe. So here's the crux in return for doing that in return for giving or allowing grayscale to custody your Bitcoin. The investor gets the opportunity to redeem their investment at the share price after a set period pocketing the net asset value premium. So you give them Bitcoin like, Hey, thanks. And then it goes up so much percentage for that premium, and then you get a cut of that. And that's how it all works out. So I know that there's some people that have talked to me like, Hey, I want to do an IRA and I'm just going to do a grayscale Bitcoin trust. I'm like, Okay, you want to pay that premium and just go right ahead. I don't think that's a good idea, but sure. So again, that's why I have a personal IRA with I trust capital. Again, if you want to win that three months plus the free swag, just put in the comments below. I trust it our UST and of course, the country you're in USA. And again, we'll have Blake and Anthony draw winner. So that's it for the Dan snippets. Thanks for sticking with me. We'll go over later for some more detailed news that comes out. And I want to talk to you about there are four things I want to talk to you about as far as loans, cryptocurrencies and how to not cash out in the next bull run. But what to do to make those loans work for you. And there's going to be four things I'm going to talk about that I personally have done. So we'll go over that maybe tonight, maybe later in the week, it's going to be detailed stuff. So look forward to that. Anyhow, thanks for sticking with me through the end. Really appreciate it. And I'll see you on the next one.