Despite of the effect of “Buy the rumor sell the news” are taking place and have dragged $BTC price down to $67K after SEC approved all #Ethereum Spot ETF applications, yesterday, the Total #Bitcoin Spot ETFs Net Inflow was recorded as 9 positive days in a row with:
Total Inflow: $107.9M GBTC Outflow: -$13.7M BlackRock: $89M 🥇 Fidelity: $19.1M 🥈 Van Eck: $9.5M 🥉
In the next few days and even weeks, you might see #Bitcoin price to decline after the SEC has just approved all the #Ethereum Spot ETFs. That’s because of the HODLers taking profit from it and starts distributing to $ETH and other #altcoins
Altcoin Season will start with BTC Dominance decreases + stable $BTC price, then it pumps #ToTheMoon when both of these decreases + increases respectively (See below pic as a reference)
Before the SEC gives their final decision on the approval of #Ethereum Spot ETFs today, you should know how much $ETH that Grayscale is holding right now:
According to Arkham, as of May 22nd 2024, Grayscale is holding 2.97M ETH worth of $12.26B
Black Rock had a huge amount of inflow yesterday Tuesday as $290M 🔥- Fidelity continued to have positive inflow and the rest didn’t change too much
GBTC had its 5 days of positive inflow in a row. The total #Bitcoin Spot ETFs Net Inflow of yesterday was: $305.7M
We never know how much $BTC would be in the future after Wall Street joins in this game, but we all know that you can’t buy it as cheap as its dip like last 2022
Do you know that many institutes including giant ones like Black Rock, Franklin Templeton etc. have been providing to their special clients the Public Securities which are tokenized on smart contract blockchain?
This is helping them to reduce so much paper works and complicated procedures. And look at the summary below, Black Rock has sold a total securities tokens amount worth of $427,016,347 through #Ethereum 🔵 blockchain. You can also see Franklin Templeton has done the same way through #Polygon 🟣 in this summary
The total Market Cap of these Securities Tokens is now at $903.55M, this is not a small amount and these institutes are taking benefits from providing this kind of financial product
Therefore, the SEC is not only facing the pressure to approve $ETH Spot ETF applications from #Crypto industry only, but even Wall Street, those who are in love with this technology
The approvals of ETH Spot ETFs applications are just the matter of time but, the SEC and Chair Gary Gensler better do it soon 😎
Update Total #Bitcoin Spot ETFs Net Inflow of Monday May 20th 24:
🍀 Total Inflow: $237.2M (6 positive days in a row) GBTC: $9.3M (first time 4 positive days in a row) Fidelity: 6 positive days in a row since last Monday with an average of $68.08M 🤩 Ark Invest: 5 positive days in a row with an average of $62.4M 🤩
The 4 Most Influential People Who Can Send The Crypto Market TOTHEMOON In 2024
Based on observations and assessments from the author’s personal perspective, The 4 Most Influential People Who Can Send The Crypto Market TOTHEMOON In 2024 are:
1. Jerome Powell — Current Chair of the Federal Reserve: Due to his previous statement that the Fed’s tightening monetary policy is most likely done, the whole world’s economies are highly expecting of at least one to maximum three rate cuts in this year.
Rate cut will open a new period of loosening monetary policy which is allowing more printed dollars to flow into all sectors of the economies, lead to a new cycle of investment asset’s growths, especially Crypto market.
2. Donald Trump — Former 45th President of USA: Has just turned into a Super Pro-Crypto right after the Biden’s administration made it clear that it would veto any efforts from US Congress to facilitate the development of the Crypto market in the US.
Trump is the 2024 presumptive Republican presidential nominee and if Trump wins this election, positive regulations would be made and this would bring massive investments to the Crypto industry. A pretty funny note is that Donald was an Anti-Crypto during his previous term.
3. Elon Musk — Tesla’s CEO, SpaceX’s CEO and X’s Owner: By letting Tesla owning Bitcoin since 2021, then his revelation that his personal and SpaceX’s portfolios also own Bitcoin, Ethereum, Dogecoin, the third richest man in the world has an enormous influence on Crypto industry.
Elon became a Pro-Crypto since the previous Bitcoin halving year of 2020, so after this recent halving, many eyes are on him now especially his plan to release the new X’s payment-feature which expectedly uses Dogecoin as the currency.
4. Larry Fink — CEO of Black Rock: Has been proving to everyone that his decision to have a Bitcoin Spot ETF for Black Rock is one of his most successful one. IBIT is the World Top 2 Bitcoin HODLing Institutions with 276.76K $BTC currently and is expected to be the Top 1 soon.
His firm also disclosed a $6.6M investment in its own IBIT fund in its 13F filling to SEC. Larry won’t stop here because of the way much better than expected result that IBIT has achieved. He will probably launch new other financial products from Bitcoin for his investors in this year and this would make another huge cash to flow into this market again.
The 4 Most Influential People Who Can Send The Crypto Market TOTHEMOON In 2024
Based on observations and assessments from the author’s personal perspective, The 4 Most Influential People Who Can Send The Crypto Market TOTHEMOON In 2024 are:
1. Jerome Powell — Current Chair of the Federal Reserve: Due to his previous statement that the Fed’s tightening monetary policy is most likely done, the whole world’s economies are highly expecting of at least one to maximum three rate cuts in this year.
Rate cut will open a new period of loosening monetary policy which is allowing more printed dollars to flow into all sectors of the economies, lead to a new cycle of investment asset’s growths, especially Crypto market.
2. Donald Trump — Former 45th President of USA: Has just turned into a Super Pro-Crypto right after the Biden’s administration made it clear that it would veto any efforts from US Congress to facilitate the development of the Crypto market in the US.
Trump is the 2024 presumptive Republican presidential nominee and if Trump wins this election, positive regulations would be made and this would bring massive investments to the Crypto industry. A pretty funny note is that Donald was an Anti-Crypto during his previous term.
3. Elon Musk — Tesla’s CEO, SpaceX’s CEO and X’s Owner: By letting Tesla owning Bitcoin since 2021, then his revelation that his personal and SpaceX’s portfolios also own Bitcoin, Ethereum, Dogecoin, the third richest man in the world has an enormous influence on Crypto industry.
Elon became a Pro-Crypto since the previous Bitcoin halving year of 2020, so after this recent halving, many eyes are on him now especially his plan to release the new X’s payment-feature which expectedly uses Dogecoin as the currency.
4. Larry Fink — CEO of Black Rock: Has been proving to everyone that his decision to have a Bitcoin Spot ETF for Black Rock is one of his most successful one. IBIT is the World Top 2 Bitcoin HODLing Institutions with 276.76K $BTC currently and is expected to be the Top 1 soon.
His firm also disclosed a $6.6M investment in its own IBIT fund in its 13F filling to SEC. Larry won’t stop here because of the way much better than expected result that IBIT has achieved. He will probably launch new other financial products from Bitcoin for his investors in this year and this would make another huge cash to flow into this market again.
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