There has been about $1B poured into the Crypto market right in the context that everyone still believes that this is the period when the Crypto market will gradually decrease until the end of the year. Retail investors are skeptical that the market is filled with a series of big players that are making positive moves. So everyone, let’s find out together with us in the article below.
To better understand the article Big guys continue to show special interest in the Crypto market, people can refer to some of the documents below:
- What is Ethereum ETF? Everything about Ethereum ETF Spot & Ethereum ETF Future
- What Happens If Bitcoin ETF Is Approved By SEC In The US
BlackRock Continues to Drive the Crypto Market
On November 12, 2023, Black Rock – the world’s largest asset management unit – officially submitted an application to establish an Ethereum ETF Spot to the US Securities and Exchange Commission (SEC). Right now, Ethereum has had tremendous growth, thereby pulling the whole market up.
Perhaps the whole market still has a belief that the possibility of Bitcoin ETF Spot will be approved first and then Ethereum’s turn will come some time later. However, with this proposal from Black Rock, there are doubts whether we can see Bitcoin ETF Spot and Ethereum ETF Spot appear at the same time or two times close to each other. This is the factor that increases optimism for investors, thereby promoting market growth,
Bitcoin Sees Capital Inflow Reaches 1 Billion USD
Digital asset investment products saw capital inflows totaling $293 million, bringing total inflows in the last seven weeks past the $1 billion mark.
$BTC witnessed the flow… pic.twitter.com/pzO2RXgp37
— Weakhand (@HakResearch) November 14, 2023
In the last 7 weeks, i.e. the end of September, October and early November, more than $1B has been poured into the Crypto market, in which Bitcoin and Ethereum continue to be trusted by organizations followed by Solana. , XRP, Cardano,…
There are conspiracy theories that the units applying for Bitcoin and Ethereum ETF Spot are making moves to put money into the Crypto market to prepare BTC and ETH right after the ETF proposals are approved. And the amount of money put into the Crypto market by organizations will be a huge number because when Bitcoin and Ethereum ETF Spot officially launch, it will entail:
- This financial asset is accessible to most people. Besides, communication strategies will recreate the definitions for Bitcoin and Ethereum, thereby creating huge demand for these two assets.
- Smaller countries will follow the US to launch their own Bitcoin and Ethereum ETF Spot products and that will have the same impact on their people as in the US.
Besides, there are also many people who believe that sharks and organizations with early information about Bitcoin and Ethereum ETF Spot are putting money on exchanges to be able to buy BTC and ETH before the Bitcoin Halving period.
Not only that, in a new interview with Fox Business, BlackRock CEO Larry Fink shared about Bitcoin’s price increase at the beginning of October:
“I think that’s an example of the interest people have been pent up with electronic money. We are hearing from customers around the world about the demand for cryptocurrency.
I think Bitcoin’s growth is not based on rumors. I think that’s happening because people are looking for haven assets like government bonds, gold or cryptocurrencies in the context of the outbreak of the Israeli war and terrorism going on around the world.
And I believe that cryptocurrency is a strong and mature enough asset class to play a storage role value in times of crisis.”
Not stopping there, also in early October, BlackRock and Barclays used TCN – Private Blockchain of JPMorgan’s Onyx Digital Assets Platform to carry out a number of important transactions. Obviously, Crypto may be dead but Blockchain technology is one of the best solutions for transparency, decentralization and security today.
Banks Continue Their Supportive Moves
First, the World Bank, also known as the World Bank, is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of following Chase Capital Projects headquartered in Washington, DC, United States was founded in July 1944.
NEWS: World Bank kicks off Euroclear’s digital securities platform with its digital bond issuancehttps://t.co/aCgU98YsG1
— Blockworks (@Blockworks_) October 25, 2023
On October 25, 2023, the World Bank officially announced it raised $105M through a 3-year digital bond to fund its sustainable development initiatives. This is also the time issues the first digital securities on Euroclear’s newly launched Digital Securities platform.
The bond issuance involves Citi overseeing the issuance and settlement process, TD Securities acting as agent and Euroclear Bank acting as the Central Securities Depository for the issuer .
Next, on October 27, 2023, according to Bloomberg US bank JPMorgan (JPM) now processes $1 billion worth of transactions in digital token JPM Coin every day. JPM Coin is a payments token that enables JPMorgan’s institutional clients to make blockchain-based wholesale payments between accounts worldwide.
JPMorgan’s digital token JPM Coin could be handled as much as $10 billion in daily transactions in the next year or two, it says https://t.co/jSqvfXgzul
— Bloomberg Crypto (@crypto) November 15, 2023
Since its inception in 2019, JPM Coin has been used to make payments in dollars, adding support from the Euro in June this year. Georgakopoulos, head of payments at Takis Bank, continued to share that: “JPM Coin is traded daily mainly in US dollars, but again we intend to continue to expand that ”.
Continuing a series of moves from HSBC – one of the largest banks in the world, with the goal of 2024, HSBC will launch a Tokenization service for securities for organizations. Meanwhile, a London-based branch of HSBC is trying its hand at tokenizing gold.
HSBC has launched a platform that uses distributed ledger technology to tokenize ownership of physical gold held in its London vault https://t.co/8SMERxaIaA
— Bloomberg Crypto (@crypto) November 9, 2023
Tokenized physical gold can be traded between HSBC and institutional investors via the HSBC Evolve platform. Previously, HSBC partnered with Well Fargo in December 2021 to use a common payments ledger to process transactions in US dollars, Canadian dollars, Euros and British pounds.
On the other side of the hemisphere, Nomura Holdings, Japan’s largest investment bank, is launching an Ethereum-based fund for institutional investors through its digital assets subsidiary Laser Digital Asset Management.
Not about #Jasmy
Japan’s largest investment bank, #Nomura Holdings, is launching an Ethereum-based fund for institutional investors through its digital assets subsidiary #Laser Digital Asset Management, according to a #Nov. 9 press release.https://t.co/j6SnkRNzJP
— Houston (@Houston08068672) November 10, 2023
The new fund will primarily target long spot positions in Ethereum. It enhances returns through an innovative strategy that involves staking ETH held by the fund. The fund is managed as a segregated portfolio within Laser Digital Funds SPC, a segregated portfolio company registered in the Cayman Islands.
Our neighboring country also continues to show special interest in the Crypto market as Kasikornbank also known as K-Bank announced the acquisition of a majority stake in the parent company of the cryptocurrency exchange. local prince Satang. In a filing with the Stock Exchange of Thailand, K-Bank Chairman Pipit Aneaknithi revealed that the 3.7 billion Thai baht ($102.8M) acquisition was made through a wholly owned subsidiary. of the bank, Unita Capital.
Thai banking giant KBank acquires Satang exchange to grow crypto business https://t.co/JwuZWX3E7H
— The Block (@TheBlock__) October 30, 2023
According to records, after the takeover, Satang will change its name to Orbix Trade Company Limited. Operating in Thailand since 2017, Satang is the country’s oldest cryptocurrency exchange.
Are Countries Also Not Ignoring?
first/
The UK’s Financial Services & Markets Bill has received Royal Assent, the final step for this major legislation, which brings #stablecoins into the regulatory perimeter, designates #crypto as regulated activity & supervision of #crypto promotionshttps://t.co/wG4D3sgDgz
— Teana Baker-Taylor (@TeanaTaylor) June 29, 2023
Not only banks but also governments are in the process of bringing Crypto to life, recently in early November 2023, the Bank of England and the Financial Conduct Authority are making proposals that will bring stablecoins – a type of digital token designed to track the price of hard currencies – entering the real economy as a payment option for goods and services.
Some Personal Comments
Perhaps the current time is one of the rare times in the past 2 years when we have had such positive news. Unlike previous times, although the news was positive but the price still decreased, this time the market price also had a relatively positive reaction. For us, we should maintain an optimistic but cautious state.
However, I still believe that Bitcoin and Ethereum ETF Spot will be approved soon, possibly in the first quarter of 2023 with Bitcoin and a little later with Ethereum, these can be considered the two biggest triggers leading the Crypto market. explode in the next stage. And of course we need to be fully prepared in terms of knowledge, experience and finance.
Summary
It cannot be denied that the current period is one of those where investors are skeptical about the market regarding both negative and positive news. In the context of all organizations being interested in Crypto & Blockchain, what are your thoughts?
