🔑 US Crypto Policy Shift: Boosting Market Confidence & Growth

Under the stimulus of rumors about the approval of Ethereum ETFs, the enthusiasm in the digital currency market continues to soar this week. After setting the biggest increase in 18 months on Monday, Ethereum continued to lead on Tuesday, with the maximum intraday increase reaching 8.6%.

On Tuesday, $Bitcoin(BTC.USD.CC)$ once surged to near $72,000, then gave back the gains and closed nearly flat. However, it is worth noting that this has been the sixth consecutive day of net inflows into Bitcoin ETFs.

Recently, reports on the shift in the US senate's cryptocurrency policy may bring the following positive impacts to the cryptocurrency market:

1. Policy Stability: Cooperation between Democratic and Republican lawmakers to repeal SAB 121 brings a more stable policy environment to the cryptocurrency industry.

2. Banking Custody Convenience: The repeal of SAB 121 may reduce the cost and risk of banks holding cryptocurrency.

3. Market Confidence: The SEC's change of attitude may lead to the approval of Ethereum ETFs, enhancing market confidence.

4. Investment Channels: The potential approval of cryptocurrency ETFs provides investors with a compliant investment path.

5. Political Influence: Cryptocurrency has become a major election issue, which may increase the industry's political influence.

6. Increased Compliance: Clarity in policy and regulation may prompt companies to improve compliance.

7. Technological Innovation: Policy support may promote technological innovation and wider adoption of cryptocurrency.

These factors may have a positive impact on cryptocurrency stocks in the US, enhancing market confidence, attracting investment, and promoting the rise in stock prices of companies in the relevant fields.

The repeal of the SAB 121 Act and the SEC's change of attitude towards the ETH spot ETF may also be beneficial to the following types of listed companies:

1. Cryptocurrency Exchanges: Such as $Coinbase Global, Inc.(COIN)$ , because the clarity of policy and the increase in market confidence may increase trading volume.

2. Cryptocurrency Asset Management Companies: Such as $Fidelity Wise Origin Bitcoin Fund(FBTC)$ , $BlackRock(BLK)$ , $Bitwise Bitcoin ETF(BITB)$ $Bitwise 10 Crypto Index Fund(BITW)$ $BITWISE ETHEREUM STRATEGY ETF(AETH)$ etc., they may gain more managed assets due to the approval of ETFs.

3. Cryptocurrency Custody Service Providers: Such as Anchorage, Circle, etc., because the reduction of obstacles to banks holding cryptocurrency may increase custody demand.

4. Blockchain Technology Companies: The stability of policy and the increase in market confidence may promote the development and application of blockchain technology.

5. Financial Service Companies: Providing financial services related to cryptocurrency, such as payment processing, loans, etc.

6. Traditional Financial Institutions: If they are involved in the cryptocurrency field, the change in policy may bring new business opportunities.

7. Cryptocurrency Mining Companies: With the increase in market confidence and the potential rise in cryptocurrency prices, the profitability of mining companies may be enhanced.

8. Cryptocurrency-related Software and Hardware Providers: Providing cryptocurrency wallets, hardware wallets, mining equipment, etc.

$iShares Bitcoin Trust(IBIT)$ $Grayscale Bitcoin Trust(GBTC)$ $CME Bitcoin - main 2405(BTCmain)$ $Bitwise Bitcoin ETF(BITB)$ $Fidelity Wise Origin Bitcoin Fund(FBTC)$ $Invesco Galaxy Bitcoin ETF(BTCO)$ $ProShares Bitcoin Strategy ETF(BITO)$ $Franklin Bitcoin ETF(EZBC)$ $WisdomTree Bitcoin Fund(BTCW)$ $Valkyrie Bitcoin Fund(BRRR)$ $ProShares Ultra Bitcoin ETF(BITU)$ $VanEck Bitcoin Trust ETF(HODL)$ $Valkyrie Bitcoin Miners ETF(WGMI)$