A Bitcoin & Gold ETF (STKD Bitcoin&Gold ETF) jointly launched by Tidal Investments and Quantify Chaos Advisors has filed a prospectus on Thursday. The proposed ETF aims to allow players to invest in both Bitcoin and gold without purchasing either asset, and achieve this goal through Bitcoin futures and ETFs and gold futures and ETFs. From an investment strategy perspective, the idea of the ETF is to combine Bitcoin strategies with gold strategies, using the complementary benefits of the two assets to reduce the impact of short-term market fluctuations on overall investment results. The performance of Bitcoin and gold in the market often has a certain inverse correlation, that is, during periods of market turmoil, the value of gold as a safe-haven asset may rise, while Bitcoin, as a high-risk and high-return asset, may experience greater price fluctuations.
Such a strategy design helps provide a more stable investment trajectory, which is attractive to players seeking steady returns. However, it is worth noting that the prospectus does not include a stock code or any related fees, which will be provided in subsequent updates. The document specifies that the ETF will take effect on September 9, 2024. If launched as planned, it will be the first ETF product on the market that combines Bitcoin and gold. Players need to pay attention to subsequent information updates, including specific fee structures and operational details, in order to better assess the value of their investment.
Federal Reserve Board Governor Bowman recently issued a statement saying that it is not appropriate to cut interest rates now. Bowman pointed out that if the inflation rate approaches 2%, the Fed may consider cutting interest rates; but if inflation does not slow down, he is still willing to raise interest rates again. This statement reflects the Fed's cautious attitude in the current economic environment. Bowman emphasized that the current monetary policy is somewhat restrictive and the upward risk of inflation still exists. Inflation is expected to fall only moderately this year, which means that the Fed will continue to be cautious in formulating future interest rate policies. Bowman's speech shows that although the market wants to see interest rate cuts to support economic growth, the Fed is more concerned about inflation control and economic stability.
This policy stance is crucial for financial markets and players. Maintaining the current interest rate level shows that the Fed is still cautious in its assessment of the current economic situation and that inflationary pressure has not been completely relieved. If inflation fails to slow down as expected in the future, the possibility of further interest rate hikes will increase, which will have an impact on the bond market, stock market and other financial assets. In this context, players should pay close attention to inflation data and the Fed's policy trends. Maintain a cautious and flexible investment strategy to cope with potential market fluctuations.
Asset management firm VanEck has filed an application with the U.S. Securities and Exchange Commission for the VanEck Solana Trust. The trust is designed to reflect Solana’s price performance by holding SOL, Solana’s native token, minus trust operating expenses. The move suggests that VanEck is trying to launch the trust’s common stock on Cboe BZX Exchange Ltd.
The investment objective of VanEck Solana Trust is to value its shares daily through the MarketVectorTM Solana benchmark rate to achieve the goal of reflecting Solana's price performance. This design provides players with a way to invest directly in Solana without actually purchasing and managing SOL. Analysis shows that the launch of this trust will have a certain impact on Solana's market price. First, the establishment of the trust will increase the market demand for SOL, thereby driving up its price. Secondly, as a well-known asset management institution, VanEck's launch of its trust products will attract more institutional players to enter the Solana market, further increasing the stability and liquidity of the market.
According to a report by Charles Yu, vice president of research at Galaxy Digital, up to $7.5 billion is expected to flow into spot Ethereum ETFs in the first five months. This forecast is worth paying attention to because it means that spot Ethereum ETFs may attract a large number of players, further driving the market. Since its launch until June 15, Bitcoin ETFs have seen net inflows of $15.1 billion, indicating strong demand for cryptocurrency ETFs in the market. If the inflows of spot Ethereum ETFs reach between $3 billion and $7.5 billion, it will further prove the continuation of this trend. Bitwise Chief Investment Officer Matt Hougan's forecast also shows that the US spot ETH ETF may attract $15 billion in net inflows in the next 18 months. The two forecasts support each other, showing that the market is optimistic about the expectations of spot Ethereum ETFs.
Yu pointed out that the launch of a spot Ethereum ETF will help legitimize ETH in the eyes of institutional players, policymakers and regulators, further promoting market adoption. This is critical because the participation of institutional players will bring more liquidity and stability to the market. Gary Gensler, chairman of the U.S. Securities and Exchange Commission, recently said that he expects to see a spot Ethereum ETF listed as early as September. If this timetable is achieved, it will bring new impetus to the market and help further enhance Ethereum's market position.
According to JPMorgan Chase's analysis, Mt.Gox creditors are expected to sell some of their Bitcoin receivables next month, a move that will put pressure on the crypto market in the short term. Specifically, Mt.Gox's claims of about 140,000 Bitcoins will be released, some of which will be sold by creditors to obtain cash flow, which will increase the supply of Bitcoin in the market and lead to the possibility of a price drop.
Historically, the market has generally reacted negatively to large-scale sell-offs. For example, China's crackdown on cryptocurrency mining and trading in May 2021 caused the price of Bitcoin to plummet from nearly $60,000 to around $30,000. Although the scale of the Mt.Gox sell-off was relatively small, its impact cannot be ignored. However, JPMorgan analysts pointed out that repayments to FTX creditors may begin in August, which may provide some support to the market. FTX is reportedly expected to return billions of dollars in assets in batches, which will flow back into the crypto market, driving demand back up and easing the pressure from the Mt.Gox sell-off.
Token Unlocks data shows that a total of $129.87 million worth of cryptocurrencies will be unlocked next week. These unlocked cryptocurrencies include SUI, IO, DYDX, MAV, ENA, GAL and ZETA. The specific data is as follows:
SUI: Unlocked 2.65%, worth $53.9 million
IO: unlocked 7.89%, worth $28.5 million
DYDX: unlocked 3.12%, worth $11.92 million
MAV: Unlocked ratio is 14.56%, worth 10.04 million US dollars
ENA: Unlocked ratio is 0.92%, worth $8.37 million
GAL: unlocked 2.6%, worth $6.94 million
ZETA: Unlocked ratio is 1.92%, worth $4.49 million
These unlocked cryptocurrencies will have different degrees of impact on the market. MAV and IO, which have higher unlocking ratios, may increase market supply in the short term, thereby exerting downward pressure on their prices. Although SUI has a relatively low unlocking ratio, it also needs to attract the attention of players because its total unlocking value is as high as 53.9 million US dollars.
The U.S. spot Bitcoin ETF had a net inflow of 194 coins yesterday, worth $11.8 million.
BTC: It closed with a small positive line yesterday, and the volume was not large. The upper shadow line means that there is still a certain amount of selling pressure above it. Although it is now above the 5-day moving average, the market is in a slump and the rebound is weak. It still needs to wait for a few days to usher in an oversold rebound. Today is the quarterly futures delivery, and the market volatility may intensify, so please pay attention. In the process of the bull market, long-term investors can still hold the currency.
ETH: Linked to Bitcoin trend.
ONDO: Yesterday it closed with a spinning hammer line and is now below the 10-day moving average. It may continue to decline in the short term and is expected to once again fall back to around the 60-day moving average of 1.08 or stop falling and stabilize.
XMR: It closed with a spinning hammer yesterday, and the volume has increased for several consecutive days, with the volume increasing and the price remaining flat. It is now above the 30-day moving average, and the daily MACD is above the zero axis, indicating its strength, and there may be further increases in the short term.
ZRO: Yesterday, it closed at a low level with a cross line, which is a sign of large volume. It may see an oversold rebound in the short term.
The panic index is currently 47 (neutral) #VanEck提交首个SolanaETF #以太坊ETF批准预期 #Mt.Gox将启动偿还计划