[This week’s focus] is #美股 The second quarter financial reporting season is in full swing, which will affect the fluctuations of US stocks and thus the currency circle.

When BTC reaches this stage, [the focus is on spot #ETF ] whether the application can be approved, the price will rise sharply if it is passed, and if it is not passed, the price will plummet.

Currently, more than five companies have applied together and received approval results in August and September respectively.

It has been 10 years since the currency circle applied for BTC spot ETF.

If the application can be approved, it can only be from BlackRock, because they have a record of approximately 500 ETF applications being approved, which is very impressive.

We believe that the probability of application approval is 30%. If the lawsuit between the SEC and Coinbase is resolved, there is a high probability that these ETFs will not be approved.

Regarding ETFs, there is another trend worthy of attention. Recently, the spot Bitcoin ETF (BTCC) of #加拿大 has continued to receive inflows, with 5638 Bitcoins flowing into the ETF in June and July. Most of the current purchases are from retail investors, with institutions accounting for only 0.03%.