Part 1 Advanced The Market Maker’s Exchange Checklist (Liquidity, Latency, and Risk Controls) Market makers and HFT desks: evaluate exchanges on execution quality, liquidity, latency, fees, margin, and security — with a WhiteBIT walkthrough. Open guide 
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ETF
Chainlink’s $64M Grayscale ETF debut hides private banking loophole threatening to sever link between usage and price
GLNK emerges as a market test for tokenized finance, as institutional investors grapple with LINK's valuation amidst growing adoption.

ETF
Grayscale to slash fees to 1.5% after spot Bitcoin ETF conversion, still highest among rivals
Grayscale cuts Bitcoin ETF management fees amid intense competition from rivals.

Analysis
Will spot Bitcoin ETFs be cheaper than crypto exchanges to purchase BTC?
Balchunas speculates on Bitcoin ETFs as potential cost rivals to crypto exchanges, igniting debate over fee sustainability and securities lending.





















