Why did Trump's message boost the trend of digital currencies such as Bitcoin?
How do institutions view the subsequent market performance of Bitcoin?
Recently, the performance of Hong Kong stock digital currency ETF can be described as "attracting gold", and related ETFs have all risen continuously since this week. As of the release of this news,$Bosera HashKey Bitcoin ETF (03008.HK)$,$Harvest Bitcoin Spot ETF (03439.HK)$,$ChinaAMC Bitcoin ETF (03042.HK)$,$CSOP Bitcoin Futures ETF (03066.HK)$rose more than 4%,$ChinaAMC Ether ETF (03046.HK)$,$Harvest Ether Spot ETF (03179.HK)$all rose more than 3%.
On the news front, according to insiders, the US Securities and Exchange Commission (SEC) has instructed at least four spot ETF issuers to submit applications for approval. Three of the issuers said that the agency suggested that Ethereum spot ETF may be launched on July 23rd (next Tuesday). $Ethereum (ETH.CC)$In addition to the expected launch of the Ethereum spot ETF, it is widely believed in the market recently that Trump's attack and injury have increased his chances of winning the presidential election, and the prices of Bitcoin and Ethereum have risen accordingly. At present, Bitcoin has broken through $65000, and Ethereum has once reached above $3500.
Note: The trend of Bitcoin
Note: The trend of Ethereum
Earlier reports pointed out that Trump has repeatedly expressed support for cryptocurrencies. Last month, he posted on Truth Social, expressing strong support for Bitcoin. He acknowledged the geopolitical significance of Bitcoin and warned that any policy that hinders the development of Bitcoin will only help competitors.
In addition, Trump will attend the 2024 Bitcoin Conference. Currently, it is widely expected that Trump will bring unexpected surprises to coin investors in his speech at the conference.
Affected by the above news, multiple digital currency ETFs on the Hong Kong stock market have risen significantly in recent days. Bosera Bitcoin has cumulatively risen more than 10% in the past two days, while Jiashi Ethereum and
Geoffrey Kendrick, director of foreign exchange and digital asset research at Standard Chartered Bank, said that because Trump's attitude towards Bitcoin regulation and mining is more friendly than Biden's, as the possibility of Trump's election increases, Bitcoin is expected to reach $100,000 during the November election and may reach $200,000 by the end of next year.
Following the news, several digital currency ETFs listed on the Hong Kong stock market have experienced significant increases recently. In the past three days, Bosera Bitcoin ETF has increased by over 15%.
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