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Many people have heard of BTC's ETF, so what exactly is it? Today, Lao Lin will briefly review the background of BTC's spot ETF.
In the past few years, many institutions, including grayscale, have applied for ETFs, including BlackRock, which has recently become popular. Many people do not know what BlackRock is. BlackRock's main business is to provide investment management, risk management, and financial advisory services for legal entities and retail channels. The assets it manages are approximately $8.9 trillion, and you can calculate this data yourself. However, due to this year's bear market, BTC funds managed by grayscale have experienced a significant negative premium, leading to a decrease in the expectations of many users in this area.
2 [Recent progress]
The recent market situation in the past week or two was due to Dog Farm manipulating the market, releasing a false message that BlackRock's ETF application had been approved, causing BTC to instantly rise to around 30750, almost completely annihilating all air forces. Half an hour later, BlackRock officially declared it false. However, from this incident, it can also be seen that the entire market has high expectations for passing the ETF. Recently, Gray has sued the SEC for not approving BTC's spot ETF, The final ruling against the SEC did not substantially advance the entire incident.
3. What will happen in the future
After the SEC loses the lawsuit, it does not mean that it directly approved the spot ETF, but strangely, the futures ETF has already been approved. Why has it been so long this time? Is the Wall Street led consortium planning for the next bull market? Any major cycle is not unfounded, driven by money rather than information, and people still enjoy a fake news. Assuming that the SEC approves the applications of these large institutions next year, will the institutions have actually completed their layout and directly launch a bull market, and retail investors will also engage in high level buying? Maintaining a thoughtful mind helps to avoid pitfalls within this circle!
Finally, if ETFs are used, it will bring a flood of funds to the entire circle, which will greatly drive the price of BTC and indirectly drive up other encryption products, potentially opening a bull market.
Lin Mu Yang crypto:
Master's degree in Economics for British returnees, proficient in blockchain technologies such as C++, C #, Go, Java, Javascript, etc., focusing on data analysis and macroeconomic trend analysis in the primary and secondary markets. Self developed the "syllogism" theory and verified its reliability through multiple market quotations. Follow Lao Lin and get the latest information.
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