GM. This is Milk Road, the daily crypto newsletter that follows the 80/20 rule.

(80% of time spent researching → 20% trying to shoehorn pop culture references into our articles.)

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CRYPTO FUND FLOWS ARE RIPPING RIGHT NOW 📈

Is it safe to say it?

Are…are we back? 

Are we back on the ‘institutional flows will take our bags to Valhalla' train??

It certainly feels like it. 👇

1/ U.S. $BTC ETF flows (daily)

On Monday, the U.S. $BTC ETFs saw the second-highest single-day of net flows on record, raking in $1.2B:

2/ U.S. $BTC ETF flows (weekly)

Keeping to the theme of ‘second-highest ever’ – the U.S. Bitcoin ETFs just clocked their second-highest weekly inflows since the current record of $3.38B was set in November of last year. 👇

3/ Global fund flows (weekly)

Alright, time to buck this trend. No more celebrating 2nd place.

Last week, flows into digital asset investment products set a new record by absorbing – wait for it – $5.95B!

To mis-quote John Wick after that one scrawny mob guy killed his dog, triggering roughly 1hrs worth of cool-guy fight scenes, shoot outs, and reload tricks that won the hearts and minds of men aged 12-35 (hi) worldwide:

“I’m thinkin’ we’re back.”

ONE UPDATE → 75M NEW POTENTIAL CRYPTO USERS 🤝

I’ve tried to write about this for the past three days, but the news cycle hasn’t let up enough for me to wedge it in.

But today, I’m putting my foot down.

ICYMI: last Friday, Samsung and Coinbase announced a partnership that would allow US-based Galaxy users to buy crypto directly from their Samsung Wallet app. 

(Think: Apple Wallet, but on Samsung/Android.)

And this one update has the potential to bring in 75M+ new crypto users.

Here’s why I’ve been itching to write about this, in a single sentence:

The easier something is to use → the more people will use it.

And sure, Coinbase already offers one of the smoothest onboarding/user interfaces out there – but there’s still friction – I know from experience.

See, every holiday season I have ~2-5 relatives ask me how to get into crypto. I always offer to set them up a Coinbase account on the spot, telling them it’ll take ~10-20 mins to:

Enter their required personal details → link their card/bank account → fund their Coinbase account → buy crypto.

Of the 2-5 relatives that voice their interest, I’ve only ever managed to convince one of them to onboard per-holiday-season (PHS).

But now, if they use a Samsung, I’m guessing my PHS conversion rate is about to climb – ‘cause the Samsung Wallet app already stores personal details and card information…

Meaning (from what I gleaned from their press release) the onboarding process is about to be abstracted down to this:

The easier something is to use → the more people will use it. 🫡

BITE-SIZED COOKIES FOR THE ROAD 🍪

We’ve added a new research tool to this page. And honestly, it’s on us for not including it sooner. We use this one every single day.

The biggest degen meta of Q4 — and the tokens you can buy in preparation.

We’re not the only ones. Bitwise is also bullish on $BTC ETF flows, expecting Q4 will see us push above 2024’s $36B net flows.

9 billion dollars! That’s how much Polymarket was just valued at in their latest round, where they raised a tidy $2B of fresh cash.

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