​Summer has been nothing short of amazing for the crypto markets, and August has been no different so far. Bitcoin has once again reached a new ATH, and Ethereum has broken above $4k for the first time in over 4 years.

​There are many reasons for that, but it would seem ETFs are to be thanked for this beautiful performance, which we will talk about today.

​We will also be discussing Gemini's controversial IPO venture, which has been a topic of discussion due to their weak financials.

​Finally, we will talk about a coin that might be the perfect hold for both bull and bear markets, thanks to it's creative revenue share model. Let's dive into it then!

​As some of you may remember, Bitcoin's spot ETF launches in 2024 were a massive pivoting point in the crypto landscape. While some crypto products were available for institutional clients, the launch of ETFs from the likes of Grayscale and BlackRock were extremely anticipated.

​And well, the results speak for themselves. Since their launch, those ETFs saw over a trillion dollar in volume, with over $150B in Bitcoin now being under management for the 11 biggest funds, with BlackRock representing over half of those metrics alone.

​This has been a pivotal change for Bitcoin, and ETH's ETF is no different. In the past two weeks, Ethereum has been on a tear thanks to institutional inflows. A surge of capital into Ethereum spot ETFs has propelled ETH past $4,700.

​According to on-chain analytics and fund tracking reports, Ethereum spot ETFs have absorbed an eye-watering $3.37 billion in net inflows over just five days, far outpacing Bitcoin ETFs, which gathered $966 million during the same stretch.

​On August 11 alone, ETH ETFs hit a record-breaking $1.019 billion in inflows, once again led by BlackRock’s ETHA fund, which saw over $640 million in one day.

​The inflows are being driven by more than just hype. Many corporate treasuries are loading up on ETH; institutions are literally buying our bags. Asset manager Fundstrat is looking to acquire an additional 317,000 ETH (~$1.3 billion). That's just one fund.

​This wave of activity marks a significant shift in Ethereum’s market structure. ETFs are no longer just about Bitcoin; Ethereum is now a mainstay asset in institutional portfolios. This is the new wave of retail investors.

​This shift in the crypto landscape allows us to look into the future with a better outlook and a clear strategy: What future assets could see massive inflows from ETFs?

​Of course, the answer isn't simple, but the results have been astonishing for both $BTC and $ETH. Looking forward, ETFs for other majors like $SOL, $DOGE, and even XRP could be great long term plays.

​In one of the most anticipated financial moves of the year, Gemini has officially filed for a U.S. Initial Public Offering (IPO). This development positions Gemini among a small group of crypto-native companies making the leap to public markets joining the ranks of Coinbase and potentially paving the way for other major players.

​While an IPO always sounds glamorous at first, Gemini's underlying financials have been nothing short of spectacular... In a bad way.

​According to its S-1 filing with the SEC, Gemini reported $282.5 million in net losses for the first half of 2025, a significant increase compared to a $41.4 million loss during the same period in 2024. Revenue also saw a sharp decline, falling from $235 million in H1 2024 to $172 million in H1 2025.

​Somehow, Gemini, an 11 year old crypto exchange, managed to be unprofitable throughout all of 2024 and 2025. Taking into consideration that crypto has been in a bull market since late 2023, this is astonishing performance.

​As of their August 2025 IPO filing, Gemini has not publicly disclosed the exact amount they are looking to raise. However, reports suggest they could be targeting a valuation between $2–3 billion, depending on market conditions and investor appetite.

​The timing of the IPO is notable. After a period of intense scrutiny from U.S. regulators, 2025 has brought a more stable and constructive regulatory environment. The bull market has also been raging for some time now, and with $CRCL reaching incredible valuations, investors might be looking to get into more crypto focused stocks.

​Despite the financial headwinds, the Winklevoss twins remain confident, retaining around 27% ownership each, and plan to maintain majority voting control through a dual-class share structure. Gemini is expected to list under the ticker “GEMI” on the Nasdaq.

​In other words, the twins are looking to mass extract from their failing crypto exchange, and it wouldn't surprise me if they ride into the sunset with the funds.

​Overall, a crypto exchange who has managed to lose hundreds of millions during a parabolic bull market doesn't sound like a sound investment to me. The crypto institutional frenzy might benefit them, but I believe it will be a slow horse in the long run.

​This past week, $TUNA has caught the crypto market by surprise with a 200%+ rally, pushing the token into the spotlight. While many assumed it was just another airdrop token with fishy fundamentals, the project behind it; DeFiTuna, is building something truly unique.

​DeFiTuna offers a full suite of DeFi tools. Users can participate in concentrated liquidity market making (CLMM), engage in leveraged yield strategies, and tap into lending pools for multiple coins even including more volatile assets like $PENGU and $USELESS for some sweet extra APY.

​Early adopters were rewarded for their participation with an airdrop. The ticker is $TUNA, and it's not the regular governance airdrop coin that goes to 0.

​DeFiTuna takes tokenomics seriously, and the goal is simple: Redistribute 100% of the protocol's revenue to $TUNA stakers. Every cent earned is redistributed to stakers based on their share. Even the team doesn't earn a cent outside of their own staking payouts.

​With DeFiTuna's tech improving by the day and integrated in so many different ways throughout the Solana ecosystem, it's likely we see their revenue continue it's uptrend in a more aggressive way.

​DeFiTuna's current TVL sits at around $25M, and what's impressive is that we haven't seen the traditional sharp TVL decline we tend to see when projects finally reach TGE and send out their airdrops. People seems to like the tech, and I'm one of them.

​Currently, only 28% of the supply is in circulation, meaning we will be seeing more $TUNA airdrops in the future for participants.

​The revenue model is very solid, and isn't as dependent as launchpad revenues when it comes to market conditions. Unlike memecoin traders, LP providers and market makers don't care if the market goes up or down. Revenue won't dry up, meaning stakers will keep earning.

​Current APY for stakers sits around 10%, with potential to rise further. Price is currently at ATH, but with a mcap of only $25M, there's plenty of room to squeeze higher.

​In conclusion, thanks to it's sustainable revenue-sharing model, $TUNA is one of those coins I'd definitely keep in my portfolio for the long term, especially if you're bullish on the Solana ecosystem.

​​​[All topics are meant to be educational only. None of it is financial advice, please do your own research.]