What kind of sparks will the Bitcoin ETF and Ethereum ETF collide with?

Tesla did not sell $711 million of Bitcoin holdings in Q1 2024, and did not sell Bitcoin for the seventh consecutive quarter

On April 24, Tesla released its first quarter financial report for 2024. The data showed that it held $711 million worth of Bitcoin and did not make any purchases or sales in the past quarter. This is the seventh consecutive quarter that Tesla has not sold Bitcoin.

Due to the recent approval of the Bitcoin spot ETF by the United States and the completed Bitcoin halving event, the price of Bitcoin has soared, and the market value of Tesla's Bitcoin holdings has also appreciated significantly. The last time Tesla sold Bitcoin was in the second quarter of 2022, when it sold 75% of its holdings, equivalent to about $936 million.

The financial report also showed that Tesla's revenue this quarter was $12.3 billion, far from the expected $21.4 billion, and its free cash flow was -$2.5 billion, with sluggish performance. However, benefiting from the good crypto market conditions, Tesla's stock price rose 5% after the financial report was released, and the latest closing price was $144.61. It fell 13% and 28% in the past five days and one month respectively.

In a few days, on April 30, Hong Kong's first Ethereum spot ETF will officially start selling! Combined with the recent purchase of ETH from exchanges such as Binance by bigwigs such as Sun Ge and withdrawing them, it seems that the Americans can't sit still! #ETH #BTC