Fidelity Asset Management Applied for Bitcoin ETF, the overall market was relatively sluggish.

According to the latest news report, the asset management giant Fidelity has submitted the S-1 document to the US Securities and Exchange Commission and has applied for the issuance of bitcoin trust.

Last week Tianqiao Capital just applied for a Bitcoin ETF. Fidelity can’t wait to apply for a Bitcoin ETF in less than the past week. It can be seen that these institutions in the United States have stepped up their pace at present, but in fact in the past, they basically refused one after another at the SEC. Why are these institutions still applying so frequently?The most important reason is that the SEC has just changed its leadership some time ago. These institutions are also fighting for an opportunity. On the one hand, the recent surge in the encrypted currency and the increasing number of institutions supporting Bitcoin have given rise to a positive sentiment towards the encrypted currency. On the other hand, Gary Gensler, the new chairman of the SEC, paid more attention to Bitcoin. Although he has been raising the issues of security and risk, he still has the possibility to make reforms in the supervision of Bitcoin. He also has a certain probability to start with the Bitcoin ETF. Therefore, at present, these institutions are also more enthusiastic about applying for Bitcoin ETFs.As for Fidelity, Fidelity has been a supporter of Bitcoin for a long time, so it is not surprising that Fidelity is currently applying for a Bitcoin ETF. After all, Fidelity is a global asset management company with a heavy weight. It is also hoped that Fidelity can impress the SEC this time and make better progress on the Bitcoin ETF.On the other hand, something is beginning to happen at Goldman Sachs, which recently filed an application with the US Securities and Exchange Commission for an investment product that will track the ARK Innovation ETF. It is reported that ARK Innovation ETF invests in the Gray Bitcoin Trust, which means that Goldman’s customers may be indirectly exposed to Bitcoin. Combined with a few days ago, Goldman Sachs will restart its digital asset trading platform, and will start trading bitcoin futures. At present, it is also gradually exerting its power on the bitcoin segment. The last piece of news today came from the institutional side. new york Digital Investment Group (NYDIG) confirmed that the sovereign wealth fund had asked the company about the purchase of bitcoin. What does a sovereign wealth fund mean? Sovereign Wealth fund, which corresponds to private wealth, refers to public wealth that is accumulated by a government through specific tax and budget allocation, income from renewable natural resources and balance of payments surplus, and is controlled and controlled by the government, and is usually held in foreign currency. This also means that perhaps the government is also involved in bitcoin investment? However, there is no specific confirmation of this at present, only news can be said. Recently, there has been a new phenomenon in the market, especially after Musk called for a brief rally and a waterfall yesterday, some people began to think that if there is any good news, it is all for the purpose of breaking the market. We think this should be done in stages. To judge whether it is practical or good news for landing, some of them may not be able to respond to the long-term good news at present, but such good news as yesterday is indeed good news in itself, but the stage is different at that time. We have been saying that the current market is in the process of washing dishes, so it is not surprising that the price will be suppressed and another wave will be washed. I still hope that everyone will not be subjective. For example, if you set a big premise for such a market and think that he will definitely fall, any news can be a conspiracy theory, which is not conducive to an objective judgment of the market. Back in the market, last night’s inverted V-shaped reversal really weakened the market. This morning, it first explored the bottom of the market, reaching as low as US$ 51,500, and then began to rebound. On the whole, the rising atmosphere was relatively normal, with US$ 53,000 falling back after a moment’s absence. The current technical form does not look too good. From the perspective of the Boll of the Japanese line, the current operation between the middle rail and the lower rail is in a weak trend. Yesterday, Musk’s call for a single time made the K-line break through the Boll middle rail, but it fell back and fell short. Now it is enough to make preparations for the lower rail support.

Blockchain investment is the future, and I hope I can use my expertise and experience to help more blockchain investors.