陆小六

In-depth Analysis of the SEC ETF Approval Process: The Complete Path from Application to Listing
1. Core Process of SEC ETF Approval
The U.S. Securities and Exchange Commission (SEC) has established a complete regulatory framework for the approval of Exchange-Traded Funds (ETFs), which mainly includes five key stages:

Pre-Application Preparation Stage (1-3 months)

Complete product structure design

Determine the underlying asset class

Establish a market maker network

Develop a liquidity support plan

Formal Application Stage
Core documents that must be submitted:
√ Form 19b-4 (Exchange Rule Change)
√ Form N-1A (Registration Statement)
√ Additional disclosure documents (e.g., derivatives usage instructions)

SEC Review Period (3-6 months)
Review focus includes:

Product compliance (Investment Company Act of 1940)

Feasibility of valuation methodology

Liquidity risk management measures

Integrity of investor protection mechanisms

Feedback Stage
Typical process:
◆ The first round of inquiries is usually issued within 45 days
◆ An average of 3 rounds of material supplements is required
◆ Significant contentious issues may hold hearings

Final Approval Stage
Even after approval, the following must be completed:

Final signing with market makers

Testing of subscription and redemption processes

Investor suitability assessment

2. Approval Trends for 2024

Key review areas:

Cryptocurrency Spot ETFs (especially Ethereum ETFs)

ESG-themed fund information disclosure

Risk control for leveraged/inverse products

Alternative asset custody solutions

Approval timelines:

Conventional products: 4-6 months

Innovative products: 6-12 months

Controversial products: may exceed 18 months

3. Key Points of Investor Concern

Tracking Channels:

SEC official website "ETF Applications" section

Federal Register

Issuer disclosure documents

Key Time Nodes:
■ Application Date
■ SEC Feedback Deadline
■ Final Decision Date

Risk Reminder:

Approval carries uncertainty

Similar products may be bundled for review

Policy direction may change at any time

#TyradersLeague $SOL

Long-term Value Investment Strategy: The Path to Wealth Growth Across Cycles
1. Core Essence of the Strategy
The long-term holding strategy is based on the value investment concept of "time creating compound interest". By selecting high-quality assets and holding them for the long term (usually over 5 years), investors can share in the capital appreciation and dividend income brought about by the continuous growth of the company. This strategy is suitable for:

Investors seeking steady growth

Office workers who do not have time to monitor the market

Long-term fund management such as pensions

2. Key Implementation Elements

Stock Selection Criteria System:
√ Continuous ROE over 12% for 5 years
√ Gross profit margin higher than the industry average
√ Operating cash flow consistently positive
√ Dividend yield stable above 3%

Position Building Methodology:

Use the "pyramid" method for increasing positions

Increase allocation during market downturns

Control individual stock position to within 15%

Portfolio Construction Principles:
■ Industry Diversification (covering 3-5 unrelated industries)
■ Market Capitalization Balance (combination of large-cap and growth stocks)
■ Maintain 10-15% cash reserve

3. Dynamic Management Mechanism

Regular Review System:

Review financial metrics quarterly

Evaluate industry competitive landscape annually

Adjust the portfolio every two years

Selling Discipline:
◆ Continuous deterioration of fundamentals
◆ Severe valuation bubbles (PE > historical 90th percentile)
◆ Finding more cost-effective targets

Risk Hedging:
★ Use stock index futures to hedge systematic risks
★ Allocate to some defensive industries
★ Maintain a moderate bond position

4. Analysis of Strategy Advantages

Transaction Cost Advantages:

Significantly reduce trading frequency

Save on stamp duty and other fees

Reduce impact costs

Tax Advantages:
√ Long-term capital gains tax benefits
√ Differential taxation on dividend income
√ Avoid high tax rates from short-term trading

Compound Interest Effect:
◇ With an annualized return of 15% on 100,000 yuan, it can reach 1.63 million yuan after 20 years
◇ Compound growth from reinvested dividends
◇ The intrinsic value of the company is released over time

5. Essential Conditions for Success

Research Ability:

Understand financial statements

Analyze industry prospects

Evaluate management teams

Psychological Qualities:
× Do not operate emotionally due to market fluctuations
× Reject the temptation of short-term profits
× Maintain sufficient patience

Capital Planning:

Use idle funds that will not be touched for 3 years

Establish a phased investment plan

Reserve emergency funds
#TraderaLeague $BNB

#趋势交易策略 Trend Trading Practical Guide: How to Continuously Capture Major Market Trends
1. Core Logic of Trend Trading
Trend trading is based on the market rule that "once a trend is formed, it often lasts for a period of time". By identifying and following the main trend direction, traders can profit. This strategy is particularly suitable for:
• Markets with clear one-way trends
• Mainstream trading varieties with sufficient liquidity
• Medium to long-term investment time frames
2. Key Operational Steps

Trend Identification Methods:

Moving Average System: 50-day/200-day moving average direction

Trend Line: Connecting consecutive highs or lows

MACD Indicator: Position of the fast and slow lines and changes in the histogram

Precise Entry Timing:
√ Trend pulls back to support/resistance levels
√ Breakthrough of short-term consolidation range
√ Technical indicators show second confirmation signals

Position Management Principles:

Initial position not exceeding 5%

Pyramid-style position increase

Single variety position limit of 15%

3. Intelligent Risk Control System

Dynamic Stop Loss Strategy:

Fixed percentage stop loss (1-2%)

Technical stop loss (previous lows/highs)

Volatility stop loss (2 times ATR)

Trend Following Take Profit:

Moving average take profit

Exit when trend line is broken

Take profit in batches at Fibonacci extension levels

4. Secrets to Improve Winning Rate

Multi-timeframe Analysis:

Weekly chart determines direction

Daily chart finds opportunities

Hourly chart for precise positioning

Volume-Price Coordination Verification:

Volume steadily increases in the trend

Significant increase in volume during breakthroughs

Volume shrinks during pullbacks

Market Environment Selection:

Avoid major economic data release times

Choose main trading periods

Avoid times of insufficient liquidity

5. Practical Considerations

Common Pitfall Warnings:

Counter-trend trading

Premature take profit

Overtrading

Psychological Discipline:

Patiently wait for trend confirmation

Strictly follow the trading plan

Maintain emotional stability

Continuous Optimization:

Regularly review trading records

Statistical strategy performance

Adjust parameters to adapt to market changes

#突破交易策略 Breakthrough Trading Practical Guide: How to Effectively Capture Trend Markets
1. Core Principles of Breakthrough Trading
The breakthrough trading strategy is based on the market principle of "minimum resistance path". When the price breaks through key technical levels, it often signifies that a new trend is forming. This strategy is particularly suitable for markets with clear trends, helping traders seize the golden opportunity for market initiation.
2. Key Operational Steps

Identifying Effective Breakthrough Points:

Significant previous highs/lows

Important moving average positions (such as the 50-day/200-day moving averages)

Technical pattern neckline levels (such as head and shoulders, triangles, etc.)

Breakthrough Confirmation Criteria:
√ Closing price confirms the breakthrough
√ Breakthrough amplitude exceeds 0.8 times ATR
√ Significant increase in trading volume (at least 2 times the 20-day average volume)

Precise Entry Timing:

Enter at the close on the day of the breakthrough

Add positions when the pullback does not break the breakthrough point

Two consecutive K-lines stabilize after the breakthrough

3. Advanced Risk Control Plans

Dynamic Stop-Loss Strategy:

Initial stop-loss: 1.5 times ATR at the low/high before the breakthrough

Trailing stop-loss: Use chandelier stop-loss method

Time stop-loss: Exit if the trend does not continue for 3 trading days

Intelligent Take-Profit Techniques:

1:3 risk-reward ratio as the basis

Key Fibonacci levels for phased profit-taking

Complete closure upon trend line break

4. Secrets to Increasing Win Rate

Multi-dimensional Verification:

Weekly trend direction confirmation

Verification of related market trends

Main capital flow direction alignment

Quantitative Filtering Conditions:

Volatility Index (VIX) within an appropriate range

Market breadth indicators support

Institutional buy/sell ratio during breakthroughs

Best Trading Periods:

First hour of the morning session

Overlap of European and US sessions

30 minutes after the announcement of important data

5. Common Misconceptions Warnings

False Breakthrough Identification:

Observe the price reaction after the breakthrough

Check if the trading volume has genuinely increased

Pay attention to the overall market environment during the breakthrough

Position Management Key Points:

Initial position not exceeding 5%

Consider adding positions after a 5% profit

Control daily maximum loss within 2%

Psychological Discipline:

Do not pre-position

Do not chase highs out of fear of missing out

Strictly execute the trading plan

Analysis of the Entire Approval Process for #SECETF审批 SEC ETF: Key Steps from Application to Listing
The approval process of the Securities and Exchange Commission (SEC) for Exchange-Traded Funds (ETFs) is an important part of ensuring the stability of financial markets. The entire approval process typically takes 3-6 months, depending on the complexity of the product and the workload of the SEC.

Preparation Stage
The issuer needs to complete the product design plan, including:

Clarifying investment objectives and strategies

Determining the asset class

Designing the subscription and redemption mechanism

Developing a risk management plan

Formal Application Stage
Two core documents must be submitted:

Form 19b-4 (Exchange Rule Change Application)

N-1A Registration Statement (Fund Prospectus)

SEC Review Stage (Key Phase)
The review team will evaluate from multiple dimensions:
(1) Compliance Review: Whether it complies with the Investment Company Act of 1940
(2) Liquidity Assessment: Especially for alternative asset ETFs
(3) Investor Protection: Whether information disclosure is sufficient
(4) Market Impact: Whether it may trigger systemic risk

Feedback and Revision Stage
The SEC typically raises multiple rounds of inquiries, and issuers usually need to provide supplementary materials 2-4 times on average.

Final Approval Stage
After obtaining approval, the ETF also needs to complete:

Determining market makers

Establishing subscription and redemption processes

Conducting pre-listing tests

Latest Updates:
In 2024, the SEC has received 32 new ETF applications, of which cryptocurrency-related products account for 40%. Notably, the SEC has recently strengthened disclosure requirements for ESG-themed ETFs, requiring more detailed environmental impact data. Investors can track the approval progress through the "ETF Application" section on the SEC's official website.

Day Trading Winning Guide: Golden Rules for Short-Term Profits
In the rapidly changing digital asset market, day trading has become the preferred strategy for professional traders due to its flexibility and efficiency. This article will systematically analyze the core points of day trading to help investors accurately grasp the market pulse.
Core Trading Strategy System:

Trend Following System

Using a triple EMA combination (5/13/21) to identify trend strength

Combined with the ATR indicator to determine reasonable stop-loss levels

Finding the best entry points at the Fibonacci 50% retracement level

Breakout Trading Model

Identifying key supply and demand zone breakouts

Requiring trading volume to increase to more than twice the daily average

Setting a risk-reward ratio of 1:2.5

Professional Risk Control Framework:

Strictly controlling the risk of a single trade to 0.5%-1%

Using dynamic trailing stops (maximum drawdown of 1.5% to close position)

Setting a maximum daily loss limit of 2%

Smart Trading Tool Combination:

Indicator Matrix:

Volume Profile (Identifying key liquidity areas)

MACD Histogram (Judging momentum changes)

VWAP (As the intraday benchmark line)

Psychological Training System:

Establishing a standardized pre-trade preparation process

Implementing a strict post-trade review mechanism

Using mindfulness training to control emotional fluctuations

Key Performance Data:

Professional day traders have an average win rate of 58%-62%

Optimal leverage usage ranges from 3-8 times

Mature trading systems can achieve annual returns of 300%-500%
#TradersLeague $BTC

#日内交易策略 Day Trading Winning Principles: Golden Strategies for Short-Term Profit
In the fast-paced digital asset market, day trading is the core strategy for professional investors to achieve excess returns. This article will delve into the key elements of day trading, helping investors accurately seize market opportunities.
Core Trading Strategies:

Trend Following System

Use the 5/13/21 EMA combination to determine trend direction

Combine with MACD indicator to confirm momentum strength

Look for the best entry point at the Fibonacci 38.2% retracement level

Breakout Trading Model

Identify key support/resistance level breakouts

Require trading volume to exceed 1.5 times the daily average

Set a risk-reward ratio of 1:3

Professional Risk Control System:

Strictly control single trade risk at 0.5-1%

Use dynamic trailing stop loss (close position at maximum drawdown of 1.2%)

Set a daily loss limit of 2%

Essential Technical Tools:

Indicator Combination:

RSI (14 periods) to identify overbought and oversold

Bollinger Bands to determine volatility range

VWAP as the intraday benchmark

Psychological Training:

Establish a standardized trading journal

Implement strict trading discipline

Control emotional fluctuations

Key Data Reference:

Top day traders have an average win rate of 55-60%

Optimal leverage usage range of 3-5 times

Professional systems can achieve annual returns of 200-400%

#长期持有策略 Long-Term Holding Strategy: The Value Investment Approach That Crosses Market Cycles
In the highly volatile digital asset market, the long-term holding (HODL) strategy, with its unique advantages, has become the winning formula for rational investors. This investment wisdom of 'exchanging time for space' can effectively avoid short-term market noise and truly capture the growth dividends of high-quality projects.
Core Value Advantages:

Compounding Miracle: Annualized 20% returns, doubling the principal in 4 years (Rule of 72)

Emotional Management: Avoiding 90% of impulsive trading decisions

Cost Optimization: Saving 85% on trading friction losses

Professional Execution Framework:

Three-Dimensional Selection System:
✓ Technical Dimension: Underlying innovation, development activity
✓ Ecological Dimension: Real-world application scenarios, partners
✓ Economic Dimension: Deflationary model, token distribution

Intelligent Position Management:
▶ 50% Core Position (holding for over 3 years)
▶ 30% Tactical Position (holding for 1-3 years)
▶ 20% Cash Reserves (crisis investment opportunities)

Characteristics of Quality Targets:
✓ Deflationary Properties (such as BTC's 21 million cap mechanism)
✓ Essential Use Cases (such as ETH's smart contract platform)
✓ Continuous Evolution (such as Layer 2 technological breakthroughs)
Key Data References:
• Strictly executing the HODL strategy over the past 5 years has achieved an annualized return of 45%
• Short-term traders have an average loss rate of 83%
• 65% of the Top 50 projects are suitable for holding for over 3 years

#现货与合约策略 Spot and Contract Trading Strategy Analysis: How to Choose the Best Investment Method?
In the field of digital asset investment, spot and contract trading are two mainstream operating methods suitable for investors with different risk preferences. This article will delve into the core differences between the two and provide professional strategic advice.
1. Spot Trading: The Preferred Choice for Stable Investment

Trading Characteristics:

Actual holding of digital assets

No leverage mechanism

Instant settlement of trades

Core Advantages:

Avoiding liquidation risk

Suitable for long-term value investment

Can participate in staking to earn passive income

Applicable Audience:

Medium to long-term investors

Risk-averse users

Implementers of dollar-cost averaging strategies

2. Contract Trading: A Tool for Professional Investors

Key Features:

Margin trading (up to 125x leverage)

Two-way trading (both long and short positions)

Risk of forced liquidation

Core Value:

High capital efficiency

Can hedge against spot risks

Capture short-term volatility gains

Essential Skills:

Strict stop-loss discipline

Leverage control (recommended 3-5x)

Professional position management

3. Mixed Strategy Recommendations

Core Allocation (60%): Long-term holding of spot

Hedging Position (20%): Low-leverage contract hedging

Flexible Funds (20%): Capturing short-term opportunities

Important Data Reference:

Average loss rate of contract traders in 2023: 78%

Probability of profit for spot dollar-cost averaging over 3 years: 83%

The best risk-reward ratio with 3x leverage

#美国加征关税 美国新一轮对华关税政策深度解析：影响与应对
2024年最新贸易政策显示，美国政府将对约3000亿美元中国商品加征关税，重点针对新能源、半导体等战略产业。这一政策将于今年四季度分阶段实施，预计将重塑全球供应链格局。
重点加征领域分析：

新能源产业：

电动汽车关税从25%提升至100%

锂电池关税从7.5%增至25%

光伏组件关税提升至50%

高科技领域：

半导体设备关税增至35%

人工智能芯片新增25%关税

量子计算设备首次纳入征税范围

市场影响评估：

短期冲击：

中国对美出口预计减少15-20%

受影响行业就业岗位可能缩减5-8%

企业利润率将受到显著挤压

长期效应：

加速全球供应链多元化布局

推动中国制造业转型升级

可能改变全球产业分工格局

企业应对建议：

开拓多元化市场（欧盟、东盟等）

考虑海外生产基地（墨西哥、越南等）

提升产品技术含量和附加值

建立专业贸易合规团队

专家观点：

关税政策可能推高美国通胀0.5-1个百分点

中国或将出台对等反制措施

全球贸易格局面临深度调整

Web3 Social: A New Attempt to Break the Monopoly of Traditional Platforms
Web3 social protocols are challenging the monopoly of centralized platforms. Decentralized social networks like Farcaster are experiencing rapid growth in daily active users, and new social token economic models are attracting attention. On the technical side, significant progress has been made in decentralized identity (DID) and social graph protocols. However, user experience and content moderation remain pressing pain points. Industry observers believe that for Web3 social to achieve a real breakthrough, it must provide a user experience that is on par with Web2 platforms while maintaining the advantages of decentralization. The next two years will be a critical period determining the success or failure of this field.

#TradersLeague $SOL

Modular Blockchain: The Evolution Direction of Next-Generation Infrastructure
Modular blockchain is becoming an important direction for technological evolution in the industry. Specialized data availability layer projects like Celestia have gained market recognition, and EigenLayer's re-staking TVL has surpassed 12 billion USD. In terms of technical advantages, a modular architecture can significantly enhance the scalability and flexibility of blockchains. However, it also faces challenges such as complex cross-chain settlements and decentralized security. The developer community is actively working on building standardized inter-module communication protocols, which are expected to achieve key breakthroughs within the next 12 months. This technological route may determine the infrastructure landscape for the next cycle.
#TradersLeague $BNB

Intense Competition in the Stablecoin Market: Compliance and Innovation Progressing Together
The stablecoin market is undergoing profound changes. USDT continues to maintain its dominant position, but compliant stablecoins like USDC and PYUSD are experiencing rapid growth. Recent regulatory trends indicate that major economies are accelerating the legislative process for stablecoins, which could reshape the market landscape. In terms of technological innovation, smart contract stablecoins and algorithmic stablecoin projects are also actively exploring new development directions. Market analysts predict that the stablecoin market may undergo a reshuffle in the next two years, with projects that possess strong compliance capabilities and technological innovation standing out.
#TradersLeague $XRP

GameFi 2.0: Evolution from Speculation-Driven to Experience-Driven
The GameFi industry is undergoing a transformation from 1.0 to 2.0. New generation blockchain game projects such as Illuvium and BigTime focus more on gameplay rather than merely token incentives. Data shows that the user retention rate of high-quality blockchain games has risen to 60% of that of traditional games. In terms of economic models, the dual-token system is being replaced by a more sustainable single-token model. Industry experts believe that for GameFi to truly break through, three key issues need to be addressed: lowering entry barriers, improving game quality, and optimizing economic models.
#TradersLeague $BNB

Changes in the Market Landscape After the Implementation of Hong Kong's New Cryptocurrency Policies
Since the implementation of Hong Kong's new cryptocurrency regulations three months ago, the market landscape has been undergoing significant changes. The average daily trading volume of the first batch of licensed exchanges has exceeded $300 million, but small and medium-sized platforms are facing severe compliance pressures. Notably, the Hong Kong Securities and Futures Commission has begun to approve compliant Memecoin trading, injecting new vitality into the market. Analysts point out that the standardized development of the Hong Kong market will attract more institutional investors, but it may also lead to innovative projects relocating to other regions. Whether Hong Kong can maintain its competitive advantage in the future depends on the balance between regulatory flexibility and market demand.
#TradersLeague $SOL

The Integration of AI and Blockchain: The Core Narrative of the Next Innovation Cycle
The intersection of AI and blockchain is nurturing new investment opportunities. Decentralized AI projects like Bittensor have garnered market attention, with its token TAO's market capitalization surpassing 4 billion USD. In terms of practical applications, AI agents have made breakthroughs in the DeFi sector, with multiple projects achieving on-chain execution of automated trading strategies. However, this field still faces challenges such as high computing costs and data privacy protection. Investors need to carefully identify projects that truly possess technical strength, avoiding blind chasing of trends.
#TradersLeague $XRP

The Rise of RWA Tracks: The Innovative Integration of Traditional Finance and DeFi
Tokenization of Real World Assets (RWA) is becoming an important bridge connecting traditional finance and DeFi. Recent market data shows that the tokenized U.S. Treasury market has surpassed $700 million, with an annual growth rate exceeding 300%. Traditional asset management giants like BlackRock are entering the space and launching on-chain fund products. It is worth noting that the development of RWA still faces compliance challenges, especially in cross-border settlement and tax processing. Industry experts predict that with the improvement of regulatory frameworks, RWA is expected to grow into a hundred billion dollar market within the next three years.
#TradersLeague $XRP

Technical Breakthroughs and Challenges Behind the Revival of the Solana Ecosystem
After experiencing the FTX crisis, the Solana ecosystem has made a strong recovery, with network performance improvements being a key factor. The latest test data shows that under the optimized QUIC protocol, the Solana network maintains a stable TPS of over 4000. The meme coin craze has led to a surge in on-chain activities on Solana, but it has also exposed network congestion issues. The developer community is actively promoting innovative solutions like Firedancer, which are expected to significantly enhance network stability in the second half of the year. Analysts believe that whether Solana can maintain its competitive edge hinges on its ability to balance high performance with decentralization.
#TradersLeague $ETH

Ethereum Layer2 Solutions Experience Explosive Growth
The Ethereum Layer2 ecosystem has recently shown explosive growth, with the total value locked (TVL) in major solutions surpassing $30 billion. Arbitrum and Optimism continue to lead the market, while ZK-Rollup projects like zkSync and StarkNet are also expanding rapidly. Recent data indicates that the daily transaction volume of Layer2 networks has exceeded that of the Ethereum mainnet by more than five times, significantly improving user experience. Notably, the rise of the modular blockchain concept is reshaping the competitive landscape of Layer2, with specialized data availability layer projects like Celestia gaining market favor. In the next six months, as more projects migrate to Layer2, innovation in this field will continue to accelerate.
#TradersLeague $BNB

Bitcoin ETF funds continue to flow in, and the market welcomes a new phase of institutionalization
Recently, Bitcoin spot ETFs have maintained a strong influx of funds, with mainstream ETF products like BlackRock's IBIT seeing net inflows exceeding $1 billion in a single week. Data shows that traditional financial institutions are significantly allocating Bitcoin through ETF channels, shifting the Bitcoin holding structure from retail-dominated to institution-dominated. Notably, this round of fund inflows has been accompanied by a relatively stable price trend for Bitcoin, indicating that the market is forming a healthier supply and demand balance. Analysts point out that as more pension and insurance funds enter the market, the depth and liquidity of Bitcoin will further improve, but it may also intensify the correlation with traditional financial markets.
#TradersLeague $XRP