All eyes and ears on Bitcoin

Welcome to the State of Crypto, the weekly investor-focused newsletter from 21shares that dives into the key trends driving the digital asset landscape.  This week, we’re exploring Bitcoin, Bitcoin, and even more Bitcoin:

Crypto Sell-Off Explained: 21shares Market Update Call (Nov 19, 2025)

Off the Block Podcast: The Godfather of Crypto, Michael Terpin

The two eras of Bitcoin valuation: pre- and post- ETFs

Crypto Sell-Off Explained: 21shares Market Update Call

Missed our November 19 briefing on the crypto sell-off? Our 21shares investment and research experts analyze if Bitcoin’s recent drop signals a bear market or a correction, answering burning investor questions in the process.

The Godfather of Crypto, Michael Terpin

Tune into Off the Block, the 21shares podcast, where hosts interview Michael Terpin, the ”godfather of crypto.” They discuss Bitcoin’s origins, the evolution of token launches, and the future of Web3, regulation, and mass adoption.

The two eras of Bitcoin valuation: pre- and post- ETFs

Bitcoin valuation has fundamentally shifted from relying solely on onchain metrics to requiring a combined approach with offchain data (such as ETF flows, futures, and macro conditions). Find out how the introduction of US spot Bitcoin ETFs moved a crucial share of trading and ownership offchain and forced bitcoin valuation into a new era.

Research Newsletter

Each week the 21Shares Research team will publish our data-driven insights into the crypto asset world through this newsletter. Please direct any comments, questions, and words of feedback to research@21shares.com

Disclaimer

The information provided does not constitute a prospectus or other offering material and does not contain or constitute an offer to sell or a solicitation of any offer to buy securities in any jurisdiction. Some of the information published herein may contain forward-looking statements. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those in the forward-looking statements as a result of various factors. The information contained herein may not be considered as economic, legal, tax or other advice and users are cautioned to base investment decisions or other decisions solely on the content hereof.