SignalPlus Macro Analysis (20240125): BTC Spot ETF Trading Volume Hits Record
The People's Bank of China unexpectedly lowered the reserve requirement ratio, U.S. PMI exceeded expectations, the results of the 5-year Treasury auction were not ideal, risk sentiment improved, and U.S. interest rates slowly rose. Eight days after the launch of the spot ETF, many trading volume records have been broken, and winners have emerged, with products from Blackrock and Fidelity accounting for over 60% of the market share excluding GBTC.
