Laser Focus: Issue 20

Bitcoin breaks past $122,000 and Ethereum tops $3,800 as “Crypto Week” in the U.S. sees major legislation advance – including the landmark GENIUS Act on stablecoins. BlackRock’s Bitcoin ETF now rivals its S&P 500 tracker in revenue, while institutional ETH demand surges. Meanwhile, macro themes highlight Europe outperforming U.S. stocks, resurfacing tariff risks, and a choppy bond market amid uncertainty from the Fed.

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