Breaking news! Breaking news! Major news has struck the crypto market! The U.S. Securities and Exchange Commission (SEC) has just officially announced that it has received Bitwise's proposed amendment for physical redemption of Bitcoin and Ethereum spot ETFs. In an instant, the global crypto market has erupted as if a heavy bomb has been dropped! This undoubtedly indicates that the most shocking nuclear bomb in the crypto financial sector of 2025 has already entered the final countdown for launch!
Physical redemption: A super weapon for institutional giants
What exactly is physical redemption? Simply put, it is the ability to 'exchange coins for shares.' Large holders can directly use their Bitcoin or Ethereum to exchange for ETF shares without needing to buy and sell through cash. How powerful is this move? It is like depositing gold in a bank and then receiving a gold bar certificate; institutions no longer need to sell at a loss to cash out.
Bitwise's move is ambitious, aiming to directly create a super channel between the crypto market and the stock market. Once this plan is approved, Wall Street financial giants will be able to attack coin prices undeterred, using their stock accounts. Imagine, the sell order wall currently weighing down altcoins at 2 million dollars is just a small snack in front of these financial giants!
The life-and-death race behind the amendment
The SEC's rapid response this time is certainly not coincidental. The current policy direction has clearly shifted; the Trump administration holds a distinctly supportive attitude towards the crypto sector, and the new SEC chairman has explicitly stated the intention to 'say goodbye to the ostrich policy.' As early as May, it was first acknowledged that 'most tokens are not securities,' which undoubtedly opens a new door for the development of the crypto market.
Meanwhile, market competition has entered a fever pitch. Seven institutions, including Grayscale and Fidelity, are already gearing up and keeping a close watch. For Bitwise, if it can successfully seize the first physical redemption, it is expected to enjoy a billion-level institutional fund pool, standing out in this fierce competition.
Looking back at history, on the eve of the approval of the Bitcoin spot ETF in January 2024, BlackRock achieved a comeback through the physical redemption plan, ultimately dominating the market. Now, Bitwise is replicating this magical operation, and the SEC's review period has been drastically shortened from the original 240 days to 45 days, making this financial race enter the most intense sprint phase!
Tonight's market: A bull vs. bear showdown is imminent
The current market situation is tense, with both bulls and bears poised like warriors with swords drawn, and an intense clash is about to erupt.
Once the SEC suddenly announces the approval of the amendment, the sell order wall at 2798 for Ethereum will be instantly breached, and Bitcoin is expected to follow suit, likely breaking through the 66,000 mark, becoming a feast for bulls. However, if the amendment is unfortunately denied, bulls will panic and flee, and the price of Bitcoin may flash crash to the support level of 61,000, triggering severe market turbulence.
From on-chain data, a mysterious whale has crazily accumulated 32,000 ETH within half an hour, worth up to 90 million dollars, and its trading strategy is strikingly similar to that used on the eve of the ETF approval last October. This unusual move undoubtedly adds more mystery and uncertainty to tonight's market.
Retail investor survival guide
For the vast number of retail investors, mastering the correct operational strategy is crucial in this rapidly changing market. When the price of Ethereum quickly breaks through 2798 and the sell order wall disappears, it is an excellent point to chase the breakout; however, it is important to remember that a high without volume is often just a market trap, and one should not blindly follow the trend.
When Ethereum falls below 2750 and rebounds weakly, it is necessary to decisively cut losses; the red line of loss must not be easily touched to avoid greater losses.
Bloomberg analyst Eric Balchunas boldly predicts: 'The current situation is very similar to the eve of the Bitcoin ETF approval in January 2024! Back then, it surged 26% in the following week after approval, and this time, with Bitcoin and Ethereum linked, the increase may be even more astonishing!' Moreover, according to reliable sources, the SEC's approval rate for Solana and Litecoin ETFs has risen to 90%. The next wave of altcoin frenzy is quietly building up; are you ready?#BTC 