Any argument that is bearish on Bitcoin and Ethereum is a shameful deception! What institutions are doing every day is to use all available news to bearish, then dump the market, explode leverage, clean up retail investors, and buy as much spot BTC and ETH as possible for the cryptocurrency spot ETF that is about to sweep the world. This time is different from trading in crypto exchanges, where you can digitally pull up and digitally dump the market. Compliance ETFs are investment products that are regulated by the China Securities Regulatory Commission. If you want to do spot ETFs, how large a scale do you want to do it? Then you must have such a large scale of BTC and ETH spot reserves, and you must have so much in your wallet. The China Securities Regulatory Commission wants to see!
This is why ETFs such as BlackRock and Fidelity buy so many BTC. I just got the news that BlackRock IBIT held about 272,000 BTC as of April 15. BlackRock's official data showed that as of April 15, its spot Bitcoin ETF IBIT held 272,138.54370 BTC, with a market value of approximately US$17,194,126,843.34, and the current number of outstanding shares has risen to 475,760,000.
Currently, the eleven BTC spot ETFs hold a total of 842,107 BTC (about US$53.36 billion).
Similarly, this time Hong Kong began to approve a large number of fund companies to open BTC and ETH spot ETFs on a large scale, so these fund companies must also reserve a large amount of spot BTC and ETH. This buying order definitely exists. If you don’t buy now, you must buy in the future, otherwise this spot ETF will not work. Moreover, as more and more fund companies submit applications, the chips in the market will become more and more tight. How can BTC and ETH not rise in the future? ! Such a clear bull market, what are you still worried about?
So I say that any argument that sings short Bitcoin and Ethereum now is a shameful deception! It deceives people to hand over bloody chips, and deceives people’s positions to miss a once-in-a-lifetime wealth opportunity! Don’t be fooled, if they dare to smash, we must dare to buy!