Today we will talk about the overall trend of the market.
Currently#BTC#ETH is in a healthy wash channel. The current crypto is no longer the crypto it once was. It is more like a product that attracts international capital.
International institutions are deploying Bitcoin/Ethereum ETFs
Since the listing of spot Bitcoin ETFs in the United States and Hong Kong, they have demonstrated strong ability to attract money in a short period of time. With the release of the first quarter US institutional holdings report, the situation of many institutional investors "buying up" spot Bitcoin ETFs has also been exposed.
The latest filing submitted by Hong Kong asset management company Ovata Capital Management to the U.S. SEC shows that it has a large position in U.S. spot Bitcoin ETFs, including Fidelity's FBTC, Grayscale's GBTC, and Bitwise
’s BITB and BlackRock’s IBIT, accounting for 13.5%, 11.2%, 8.8% and 5.6% of its portfolio respectively, with a total value of more than US$74 million.
U.S. Bancorp also disclosed a spot Bitcoin ETF investment worth more than $15 million on May 8.
I will not go into detail about this aspect. From a financial perspective, the traditional financial market has basically reached saturation, and institutions are in urgent need of new products to stimulate people's enthusiasm for investment. The encrypted blockchain that has rapidly emerged in recent years is a unique product.
We should understand that various institutional ETFs make profits through management fees/handling fees. The daily trading volume of#BTCalone is as high as billions of dollars, and the profits are very lucrative. At present, the market value of cryptocurrencies still has a lot of room for growth.
Here comes the point: Institutional entry must reach a consensus with the big players behind BTC. What they need is not how much the cryptocurrencies can rise, but how much management fees and handling fees the cryptocurrencies can bring them.
Worried about#BTC#ETH crashing into a bear market? Do you agree to destroy their jobs? Institutions not only need#BTCto be stable, but also need to increase global attention and allow more users to join the industry through them. They need to pull up the trend at the right time and stimulate people's desire to trade. They are planning everything, and we don't need to worry now.
Today's crypto is no longer the crypto of the past, and this time can't be missed. Take the projects with development trends and value, and don't be afraid of the present.
Before the trend comes, all we can do is slowly invest in high-quality projects, stay away from contracts, and wait for the wind to come.
