Industry Dynamics Analysis
1. The probability of the Federal Reserve maintaining interest rates unchanged in May is 97.3%; 2. Tether Treasury minted an additional 1 billion USDT on the Tron chain; 3. The U.S. SEC postponed its decision on the Canary spot Litecoin ETF; 4. Solana has fixed a vulnerability that could allow attackers to mint and steal tokens infinitely; 5. A draft discussion on the U.S. digital asset regulatory framework has been released; 6. BlackRock holds over $5 billion in Bitcoin-related stocks; 7. U.S. Treasury Secretary Yellen: A trade agreement may be reached as early as this week.
The latest 13F filing for the first quarter of 2025 from BlackRock shows a significant increase in its Bitcoin-related asset holdings. The report indicates that the company has invested a total of $5.43 billion in Bitcoin spot ETFs and stocks related to Bitcoin treasury and mining operations. This figure marks a substantial increase compared to the fourth quarter of 2024, reflecting growing institutional confidence in cryptocurrencies. Notably, the flagship Bitcoin spot ETF under BlackRock—IBIT—increased its holdings from 2.6 million shares to 5.85 million shares, valued at $273.9 million. Additionally, BlackRock has opened a new position in Fidelity's FBTC for the first time, currently holding 70,971 shares valued at $5.1 million. At the same time, it has also established smaller positions in Grayscale's GBTC and GBTC Mini.
Today's Bitcoin Trading Suggestion
Follow yesterday's approach: It is suggested to build a position near 94,000 for the first time, then add another near 92,000. Stop-loss at 89,900, take profit at 98,500. Position can be 3%.
