Last week, Bitcoin and Ethereum ETFs finally turned positive. Although the volume is not large, it also shows the possibility of a phased bottom, with the price of Bitcoin rebounding from 80000 to 90000.
The SEC's approval of the spot Bitcoin ETF is a powerful driver of this bull market, allowing U.S. investors to finally invest in Bitcoin through traditional stock accounts without any barriers, just like trading stocks, without needing to learn about Crypto, and without facing the complexities of lost private keys, hacking attacks, or cold wallet operations.
Giants led by BlackRock quickly absorbed hundreds of billions of dollars through the issuance of ETFs, cumulatively holding more than 5% of the total Bitcoin supply. These massive institutional funds not only significantly boosted the price of Bitcoin but also propelled it from a fringe asset to being recognized on Wall Street as “digital gold.”
The emergence of ETFs has opened up a compliant channel for allocating Bitcoin. Pension funds and hedge funds are also entering the market, and Bitcoin is transitioning into a mature asset in the global capital market, fundamentally changing the game rules.
Under the new game rules, what retail investors can do is follow along. If the price remains unattractive while ETF funds flow beautifully, it may indicate a bottom.
—— Hippo Crypto Financing Weekly Report (November 24 - November 30)
