Alternative Investing Report - July 6, 2026

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*as of 7/5, Sources: S&P, BTC, FTSE, DJRE, GOLD

Coinciding with the July 4th holiday, Christie’s auctioned a number of historical documents from the massive Jim Irsay Collection, netting just over $10.8 million. The items included a letter from George Washington to Thomas Jefferson that sold for $2.76 million, and an 1823 copy of the Declaration of Independence that fetched $2.03 million. All 67 lots sold, with 43 of them exceeding their pre-sale high estimates.

➨ TAKEAWAY: Timing the sale with the U.S.’s 250th anniversary was a smart decision by Christie’s, but interest in historical documents linked to the founding of the country has been growing significantly over the past few years. The most prominent sale was of an original copy of the U.S. Constitution that sold for $43 million in 2021, but there have been a number of other multi-million dollar sales of specimens of the Constitution, Declaration of Independence and Emancipation Proclamation as well. And if you missed out on last week’s auction, Goldin is selling a 1776 broadside of the Declaration of Independence on Wednesday night. The bidding is up to nearly $1.5 million, but could easily end up in the $5 million range based on recent comparable sales.

In the newest episode of Smart Humans, Slava Rubin talks with Sacra’s Jan-Erik Asplund about the autonomous driving market, looking at market leader Waymo and emerging startups as well as existing big tech companies such as Tesla, Amazon, Uber, and Lyft. They cover market history, current dynamics, future predictions, and investment opportunities across the sector.

📊 Tepid jobs report: The U.S. added 57,000 jobs last month, well below the forecasted number of 115,000 and a significant decline from May’s numbers. The unemployment rate ticked down to 4.2%, but this was largely due to 720,000 people who have stopped looking for work. While the picture wasn’t rosy, it wasn’t bad enough that the Fed would consider cutting rates to stimulate the labor market just yet.

🚀 Jersey Mike’s IPO: The sandwich chain, which is owned by Blackstone, filed for a public offering that had previously been reported to be at a $12 billion valuation. Blackstone acquired a majority stake in the company at an $8 billion valuation in 2024, and has seen profits and same-store sales grow significantly since.

🏡 Housing bill advances: The major bipartisan housing affordability bill is now awaiting President Trump’s signature, though he has indicated little interest in signing it. However, the bill will become law in 10 days if Trump does not veto it, and that seems to be the most likely outcome. The bill aims to increase housing supply and prevent private equity firms from buying single family homes.

🐉 Tokenized trading cards: Platforms that allow collectors to buy tokenized trading card packs known as “gachas” saw a record-high $324.6 million of volume in June, a 34% month-over-month increase. Collector Crypt made up more than half that volume with $209 million as the sector continues to grow rapidly.

🚀 Etched valuation: The AI chip startup and Nvidia competitor disclosed a $500 million funding round from last December that pushed the company to a $5 billion valuation. Etched also said that it has already booked more than $1 billion in contract orders for its main product.

🤖 Government stake in OpenAI: The AI startup is reportedly in discussions to sell a 5% stake of the company to the U.S. government, as part of a larger proposal where other top U.S. AI companies do the same. This sale would allow the American public to share in the technology's financial upside, as well as the downside risks.

This week: FIFA World Cup knockout rounds continue. 

Tuesday: SpaceX is expected to join the Nasdaq 100.

Wednesday: Sotheby’s 2026 NBA Finals auction.

Thursday: Existing home sales report released.

Friday: Heritage’s Summer Sports Catalog auction, featuring a seven-figure Mickey Mantle card.

Weekend: The Women’s Wimbledon final on Saturday, and the Men’s Wimbledon final on Sunday.