Spot ETFs are about to be listed, and it is not the one that BlackRock applied for. This time it is the 2x Bitcoin Strategy ETF launched by VolatilityShares, which is also the first spot ETF that has not been rejected by the SEC. It has come into effect on Friday and is said to be officially listed on the exchange next Tuesday. The exchange is COBE and the stock code is BITX. From the successful passage of this ETFI, it can be seen that the SEC is no longer stubborn, so this is considered to have opened the door to spot ETFs. Next, BlackRock and Valkyrie will be the highlight. BlackRock's should be listed on the New York Stock Exchange and Valkyrie's on the Nasdaq. It can be understood that Volatility Shares has listed bitget, and then BlackRock and Valkyrie's spot ETFs will be listed on Binance and CB. The user base is completely different. In addition, institutions such as bitwise, wisdomtree, invesco, and VanEck will successively launch spot ETFs. According to an American expert, BlackRock's move into the encryption field may open a $15 trillion encryption boom. This is also the most important reason for the continued rise in the encryption market in recent days.
In addition to saying that it would acquire Grayscale or launch a spot ETF, Fidelity has also recently bought a large amount of MicroStrategy shares. I said before that MicroStrategy might be BlackRock's white glove because BlackRock holds 8-10% of MicroStrategy's shares. Yesterday I checked Fidelity's holdings data and found that Fidelity holds more shares of MSTR than BlackRock. According to statistics, Fidelity holds a total of 746,000 shares of MSTR and BlackRock holds 613,000 shares of MSTR. So why are these two giants entering the encryption field? You can understand it this time.
Let's go back to the cryptocurrency circle. This fake festival in the cryptocurrency circle is really lively. With the continuous strength of Bitcoin, some small copycats have ushered in a wave of rising prices. With the suppression of the SEC and the ETF application and layout of the Wall Street consortium, the confidence in the crypto market seems to have returned. However, it is still a bear market cycle, so the incremental funds are very limited. This can be seen from this wave of rebound. Except for some mainstream and some small copycats, most of them have not risen much. The direct reason behind this is that the incremental funds are limited, and the existing funds in the market are competing with each other. So after knowing this general background, don’t fantasize about the market trend that will rise to the sky all of a sudden, and be sure to lock in the profits in time.
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