Efficient Frontier Market Making Weekly Report June 27th

SSV community, find below the market-maker performance update.
A huge week of TradFi giants joining the crypto space after Blackrock filed for the Bitcoin ETF.
-EDXM, an exchange backed by Fidelity, Charles Schwab and Citadel, was launched
-HSBC launched a BTC ETF in Hong Kong
-Multiple US Asset Managers filed for spot BTC ETFs
-A futures leveraged BTC ETF was approved in the US

All of this positive news led to BTC breaking $31k and DeFi tokens all soaring. SSV had a great week too.

A few notes to explain what you are seeing:
• “7d Avg Spread” is the average spread from the best performing spread market (Binance USDT pair).
• “4% Liquidity” is ±2% from midprice liquidity sitting in the books across all exchanges
• In the individual pairs, the “2% Liquidity” is ±1% from the midprice liquidity sitting in that individual pair

Marketshare for the previous week:
Binance is experiencing severe FUD so vols a bit down this week. They delisted 90% of the USD pairs in the US exchange. While they have been kicked out or come under investigation in multiple EU countries.

Spreads for the previous week.
This is the % of time EF kept spreads from bid-ask at 75bps or better. Note all uptime well over 90%.

This does not include liquidity & trading in the V3 pool
Our aim is to continue to incentive volume and sustained trading health in the SSV market.