#加密概念美股

1. Policy and Compliance Drive Growth

The U.S. Senate passed the GENIUS Act to promote a regulatory framework for stablecoins, combined with the Federal Reserve maintaining interest rates, clarifying compliance pathways for crypto businesses. Circle, as the leading compliant stablecoin, saw its stock price surge 40% in one day to $199, and after hours it broke $214. Coinbase's stock rose 12% as it supports USDC as collateral for futures and a tokenized stock plan. Policy dividends are accelerating traditional financial institutions' entry, with Morgan Stanley, Bank of America, and others planning crypto IPOs and trading operations.

2. Market Hotspots and Capital Games

The Crypto Treasury model has become the core logic: MicroStrategy (now Strategy) holds 580,000 BTC, valued at over $100 billion; SharpLink achieved a tenfold increase in stock price through ETH acquisition, but liquidity risks are emerging. Mining companies like Bit Digital (27.3% monthly increase) and Core Scientific (34.8% monthly increase) benefit from the green energy narrative and AI computing business expansion.

3. Resonance of Institutional and Retail Funds

The trend of crypto asset securitization is significant, with institutional funds continuously flowing in after Coinbase was included in the S&P 500 index. Retail investors participate through ETFs (such as ProShares Bitcoin ETF) and social trading platforms (like eToro), forming a two-way capital drive.

Risk Warning

In the short term, caution is needed regarding liquidity traps (e.g., SharpLink's average daily trading volume is only 75,000 shares) and regulatory arbitrage risks. In the long term, focus on technological applications (such as tokenized assets) and policy implementation progress. Currently, the crypto concept in U.S. stocks is still dominated by policy narratives, with volatility containing structural opportunities.