杭JiaNing

Analysis of the Full SEC ETF Approval Process: Key Steps and Latest Trends
1. Core Approval Process
The approval process of the U.S. Securities and Exchange Commission (SEC) for ETFs mainly includes five key stages:

Pre-application Preparation (1-3 months)

Complete Product Structure Design

Establish Liquidity Management Plan

Determine Market Maker Arrangements

Develop Investor Protection Measures

Formal Application
Essential Documents:
√ 19b-4 Form (Exchange Rule Change)
√ N-1A Registration Statement
√ Supplementary Materials (Valuation Methods, etc.)

SEC Review (3-6 months)
Key Review:
(1) Compliance (1940 Investment Company Act)
(2) Liquidity Risk Management
(3) Feasibility of Valuation Mechanism
(4) Market Manipulation Prevention

Feedback and Revisions
Typical Process:
◆ First-round inquiries sent within 45 days
◆ Average of 3 rounds of supplementary materials
◆ Disputed issues may hold hearings

Final Approval
Subsequent Work:

System Testing and Verification

Final Confirmation by Market Makers

Preparation for Investor Education

2. Approval Focus for 2024

Key Areas of Focus:

Cryptocurrency Spot ETFs

Leveraged/Inverse Products

ESG Themed Funds

Alternative Asset Custody

Approval Timeliness:

Traditional ETFs: 4-6 months

Innovative Products: 6-12 months

Controversial Products: 12 months+

3. Investor Awareness

Tracking Channels:

SEC Official Website ETF Section

Federal Register

Exchange Announcements

Points to Note:

Approval results are uncertain

Approval ≠ Recommended Investment

Need to pay attention to subsequent performance
#TradersLeague $SOL

#趋势交易策略 Trend Trading Practical Guide: The Path to Profits by Going with the Trend
1. Core Principles of the Strategy
Trend trading is based on the market principle of "the strong get stronger," capturing profits by identifying and following established price trends. This strategy is particularly suitable for:

Significantly trending market phases

Mainstream trading products (indices/forex/commodities)

Daily and higher time frames

2. Key Operational Framework

Trend Determination Criteria:
√ 50-day moving average crosses above the 200-day moving average (Golden Cross)
√ MACD histogram continues to expand
√ Price consistently makes new highs/lows

Precise Entry Strategy:

Trend retracement to key support/resistance levels

Short-term moving average (10-day) retraces to long-term moving average (50-day)

Use of RSI (40-60 range) to filter false signals

Position Management Rules:
■ Initial position ≤ 5% of total capital
■ Pyramid scaling after a 5% floating profit
■ Maximum position limit for a single product 15%

3. Intelligent Risk Control System

Dynamic Stop Loss Settings:

Fixed percentage stop loss (1-2% of account funds)

Technical level stop loss (previous low/high 1.5 times ATR)

Trailing stop loss (Chandelier Stop Loss Method)

Trend Following Take Profit:
◆ Moving average system take profit (breaks below the 10-day moving average)
◆ Exit upon trendline break
◆ Fibonacci extension levels for partial profit-taking

4. Practical Enhancement Techniques

Multi-Timeframe Verification:

Weekly direction confirmation

Daily opportunity spotting

4-hour chart for precise positioning

Volume-Price Coordination Analysis:

Moderate volume expansion during trends

Volume during breakouts ≥ 2 times the 20-day average volume

Volume shrinks to 50% of average volume during retracements

Best Trading Times:
★ Overlapping sessions of Europe and the US (14:00-17:00 EST)
★ Avoiding major data releases 1 hour before and after
★ Avoiding low liquidity periods such as holidays

5. Key Success Factors

Trading Discipline:
× No counter-trend operations
× No premature profit-taking
× No revenge trading

Psychological Qualities:

Patience to wait for trend confirmation

Acceptance of reasonable drawdowns

Maintaining emotional stability

Continuous Optimization:
◇ Daily trading log records
◇ Weekly profit-loss ratio statistics
◇ Monthly parameter adjustments

#突破交易策略 Breakout Trading Strategy Practical Guide: Accurately Capturing Trend Starting Points
1. Core Logic of the Strategy
Breakout trading is based on the market principle of "price continuing after breaking through key levels," focusing on the following three types of breakout opportunities:

Consolidation Breakouts (Box/Triangle, etc.)

Breakouts of Previous Highs and Lows

Breakouts of Technical Indicator Levels (e.g., Bollinger Band Upper Band)

2. Key Operational Elements

Effective Breakout Confirmation Criteria:

Closing price breakout (not intraday false breakout)

Breakout amplitude > 0.8 times ATR

Trading volume expanded to 2 times + the 20-day average volume

At least 2 candlesticks stabilize after the breakout

High Win Rate Selection:
√ Active varieties with volatility > 20%
√ Assets ranked in the top 20% of liquidity
√ Market phases with strong trend continuation

Precise Entry Strategy:

Initial breakout with light positions (30% position)

Add to position if the pullback does not break (50% position)

Full position on second breakout (20% position)

3. Intelligent Risk Control System

Dynamic Stop Loss Settings:

Initial stop loss: 1.5 times ATR below/above breakout low/high

Trailing stop loss: chandelier stop loss method (3 times ATR)

Time stop loss: New high/low not achieved in 3 days

Scientific Take-Profit Methods:

Fibonacci 161.8% first take profit (50%)

Trendline breakout second take profit (30%)

MA20 death cross full closure (20%)

4. Practical Enhancement Techniques

Multidimensional Verification:

Weekly trend direction confirmation

Verification of correlated market trends

Main capital flow alignment

Key Points of Volume-Price Analysis:

True breakout: volume increases price rises

False breakout: volume decreases price stagnates

Effective pullback: volume shrinks to 50% of average volume

Time Period Selection:
★ First hour of the morning session (maximum volatility)
★ Overlapping period of European and American sessions
★ Avoid 30 minutes before and after data releases

5. Common Misconception Warnings

False Breakout Identification:

Immediate pullback after breakout

Trading volume not effectively expanded

Indicators showing top/bottom divergence

Position Management Taboo:
× Pre-positioning before breakout
× Heavy position on a single entry
× Revenge trading after losses

Psychological Discipline:

Abandon 90% of suspected breakouts

Only pursue 10% of quality opportunities

Daily stop loss ≤ 2% of total capital

#SECETF审批 SEC ETF Approval Full Process Explained: A Comprehensive Guide from Application to Listing
1. Core Mechanism of SEC ETF Approval
The U.S. Securities and Exchange Commission (SEC) implements strict approval regulation for Exchange-Traded Funds (ETFs) to ensure product compliance and investor protection. The approval process mainly includes the following key steps:

Preparation Phase
The issuer must complete:

Product structure design (including underlying assets, trading mechanisms, etc.)

Liquidity assurance plan

Market maker cooperation agreement

Risk control system construction

Formal Application Phase
Core documents that must be submitted:
√ 19b-4 form (exchange rule change)
√ N-1A form (registration statement)
√ Supplementary materials (valuation method description, etc.)

SEC Review Period (Key Phase)
The review team evaluates from four dimensions:
(1) Compliance (Investment Company Act of 1940)
(2) Liquidity management (especially for alternative asset ETFs)
(3) Valuation feasibility
(4) Investor protection measures

Feedback and Revisions
Typical process:
◆ First round of inquiries issued 30-45 days after application
◆ An average of 2-3 rounds of supplementary materials required
◆ Significant contentious issues may hold a hearing

Final Approval
After approval, the following must still be completed:

System testing

Confirm market maker arrangements

Prepare investor education materials

2. New Trends in Approval for 2024

Key Focus Areas:

Cryptocurrency Spot ETFs (primarily Ethereum)

Leverage/Inverse product risk control

ESG fund disclosure standards

Alternative asset custody solutions

Approval Timing Reference:

Traditional ETFs: 3-5 months

Innovative ETFs: 6-9 months

Controversial products: may exceed 12 months

3. Practical Recommendations

Tracking Channels:

SEC official website "ETF Applications" section

Federal Register

Exchange announcements

Important Observation Indicators:
■ Public statements from SEC commissioners
■ Precedents in approval of similar products
■ Changes in market conditions

Cautions:

Approval carries uncertainty

Policies may change at any time

Approval ≠ Investment Advice

New Tariffs Imposed by the U.S. on China: Industry Impact and Global Supply Chain Restructuring
In May 2024, the U.S. government announced new tariffs on approximately $180 billion worth of Chinese goods, focusing on the new energy sector including electric vehicles, lithium batteries, and photovoltaic products. This policy will be implemented in phases starting September 1 of this year, marking a new phase in U.S.-China trade relations.
Key Areas and Tariff Increases:

Tariff on electric vehicles raised from 25% to 100%

Tariff on lithium batteries increased from 7.5% to 25%

Tariff on solar cells increased from 25% to 50%

New 25% tariff on semiconductors

Market Impact Predictions:

Impact on the U.S.:

Electric vehicle prices may rise by 40-60%

Cost of solar projects may increase by approximately 30%

Inflation rate may rise by 0.5-1 percentage points

Impact on China:

Profit margins of new energy export companies under pressure

Accelerated shift of the supply chain to Southeast Asia

Forced industrial upgrade and transformation

Recommendations for Companies:

Explore diversified markets (EU, ASEAN, etc.)

Consider layout of overseas production bases (Mexico, Vietnam, etc.)

Enhance product technological content and added value

Strengthen supply chain risk management

Expert Opinions:

Global supply chains will face restructuring

China may introduce reciprocal countermeasures

Medium to long-term may change the global trade pattern
#TradersLeague $BTC

Long-term Holding Strategy: The Path of Value Investment Across Market Cycles
In the highly volatile digital asset market, the long-term holding (HODL) strategy, with its unique advantages, has become the winning tool 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 quality projects.
Core Value Advantages:

Miracle of Compounding: 20% annual return, doubling principal in 4 years (Rule of 72)

Emotional Management: Avoid 90% of impulsive trading decisions

Cost Optimization: Save 85% of trading friction losses

Professional Execution Framework:

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

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

Characteristics of Quality Targets:
✓ Deflationary Properties (e.g., BTC's cap of 21 million coins)
✓ Essential Use Cases (e.g., ETH's smart contract platform)
✓ Continuous Evolution (e.g., Layer 2 technology breakthroughs)
Key Data Reference:
• Strictly implementing the HODL strategy over the past 5 years has achieved an annual return of 45%
• Average loss rate for short-term traders is 83%
• 65% of the top 50 projects are suitable for holding over 3 years
#TradersLeague $BNB

#日内交易策略 Day Trading Winning Principles: A Practical Guide to Short-term Profits
In the digital asset market, day trading is the core strategy for professional investors to achieve excess returns. This article will systematically analyze the key elements of day trading to help investors accurately grasp the market pulse.
Core Trading Strategy System:

Trend Following System

Use the 5/8/13 EMA combination to judge short-term trends

Combine with MACD histogram to confirm momentum changes

Look for the best entry points in the Fibonacci 38.2%-50% range

Breakout Trading Model

Identify key support/resistance level breakthroughs

Require trading volume to exceed 1.8 times the 3-day average

Set a risk-reward ratio of 1:2.5

Professional Risk Control Framework:

Control single trade risk to 0.3%-0.8%

Use dynamic trailing stop-loss (maximum drawdown 1% to close)

Set daily loss limit at 1.5%

Smart Trading Tools Combination:

Indicator Matrix:

Volume Weighted Average Price (VWAP)

Relative Strength Index (RSI 14)

Bollinger Bands (20, 2 standard deviations)

Psychological Training System:

Establish a standardized pre-trade checklist

Implement daily trading log recording

Conduct mindfulness meditation training

Key Performance Indicators:

Average win rate of professional traders: 57%-63%

Optimal leverage range: 3.5-5 times

Mature trading system annualized return: 250-450%

#美国加征关税 New Tariffs Imposed by the U.S. on China: Industry Impact and Global Supply Chain Restructuring
In May 2024, the U.S. government announced new tariffs on approximately $180 billion worth of Chinese goods, focusing on the new energy sector, including electric vehicles, lithium batteries, and photovoltaic products. This policy will be implemented in phases starting September 1 of this year, marking a new phase in U.S.-China trade relations.
Key areas of increased tariffs and their rates:

Tariff on electric vehicles increased from 25% to 100%

Tariff on lithium batteries increased from 7.5% to 25%

Tariff on solar cells increased from 25% to 50%

New 25% tariff on semiconductors

Market impact forecasts:

Impact on the U.S.:

Electric vehicle prices may rise by 40-60%

Cost of solar projects increased by about 30%

Inflation rate may rise by 0.5-1 percentage points

Impact on China:

Profit margins of new energy export enterprises under pressure

Accelerated transfer of the industrial chain to Southeast Asia

Forced upgrading and transformation of industries

Recommendations for enterprises:

Explore diversified markets (EU, ASEAN, etc.)

Consider establishing overseas production bases (Mexico, Vietnam, etc.)

Enhance product technological content and added value

Strengthen supply chain risk management

Expert opinions:

Global supply chains will face restructuring

China may introduce reciprocal countermeasures

In the medium to long term, it may change the global trade pattern

#长期持有策略 Long-Term Holding (HODL) Strategy: A Robust Investment Approach Through Market Cycles
In the fast-changing financial markets, the long-term holding (HODL) strategy has become the preferred choice for many investors due to its simplicity, low entry barriers, and resistance to volatility. Whether it's stocks, gold, or cryptocurrencies, the core idea of long-term holding is 'time for space,' avoiding short-term noise interference, and earning trend-based returns.
Why choose long-term holding?

Reduce short-term volatility risk: The market is subject to drastic fluctuations due to emotions, policies, etc., in the short term, but tends to revert to value in the long run.

Save time and energy: No need to monitor the market frequently, suitable for non-professional investors.

Compound interest effect: Quality assets appreciate over time, such as Bitcoin, which has increased over a million times in the past decade.

Avoid emotional trading: Reduce mistakes from 'buying high and selling low' caused by chasing after trends.

Characteristics of assets suitable for long-term holding

Scarcity (e.g., fixed total supply of BTC)

Strong demand (e.g., gold, core technology stocks)

Inflation resistance (e.g., real estate, commodities)

How to optimize the long-term holding strategy?

Regular investment: Spread out buying costs to smooth market fluctuations.

Choose quality targets: Conduct in-depth research on the fundamentals of projects to avoid zero-risk.

Cold storage for security: It is recommended to use hardware wallets for cryptocurrencies and choose reliable brokers for stocks.

History proves that patience is the best weapon for investors. Do you adopt the HODL strategy? What quality assets have you held? Feel free to share your experiences!
(Risk warning: Long-term holding requires a strong belief in the underlying asset, the market has risks, and investment should be cautious.)

#现货与合约策略 Spot vs. Futures Trading: Which Strategy is More Suitable for You? Key Differences and Practical Tips Analysis
In the cryptocurrency market, spot trading and futures trading are two mainstream investment methods, but their risk and return characteristics are distinctly different. If you are a beginner or looking for a trading strategy that suits you better, understanding the core differences between the two is crucial.
1. Spot Trading: Low Risk, Suitable for Long-term Holding
Spot trading refers to the direct buying and selling of assets (such as BTC, ETH), with ownership delivered instantly. The advantages are:

No Leverage Risk: Only affected by market price fluctuations, no risk of liquidation.

Suitable for Long-term Investment: Can enjoy asset appreciation, staking yields, or DeFi mining opportunities.

Simple Operation: Suitable for beginners, no need to worry about forced liquidation.

However, the downside is that the capital utilization rate is relatively low, and profit opportunities are limited in sideways or downtrending markets.
2. Futures Trading: High Leverage, Suitable for Short-term Speculation
Futures trading (such as perpetual contracts, futures) allows the use of leverage (usually 5x-100x), amplifying profits but also increasing risks:

Two-way Trading: Can go long (bullish) or short (bearish), flexibly responding to market trends.

High Capital Efficiency: Small capital can control large positions, but caution is needed to avoid liquidation risk.

Suitable for Technical Traders: Relies on short-term trading, swing trades, or arbitrage strategies.

However, high leverage means high risk, and significant market fluctuations can lead to massive losses, requiring strict stop-loss settings.

Musk is reported to be preparing to establish the 'American Innovation Party', which could disrupt the 2024 election landscape?
According to exclusive reports from Bloomberg, Tesla CEO Elon Musk is secretly planning to form a new political party called the 'American Innovation Party'. This move could completely change the political ecology of the United States. Insiders reveal that the party's core agenda will focus on three major areas:

Technology-driven governance: Advocating for the use of AI to optimize government decision-making and blockchain technology to ensure election transparency.

Mars economic plan: Promoting legislation for the space industry and establishing a legal framework for extraterrestrial colonies.

Infrastructure revolution: Proposing a nationwide overhaul plan for ultra-high-speed transportation networks.

It is noteworthy that Musk's recent acquisitions of social media platforms and the unblocking of Trump's account are seen by analysts as important steps in his political strategy. The latest polls show that 28% of millennial voters say they would consider supporting Musk's new party.
However, political scholars point out that the current electoral system in the United States is extremely unfavorable to new parties. To gain national ballot access, a new party needs to collect over 800,000 valid voter signatures and meet various funding requirements in different states.
Musk has not directly responded to the rumors, but his tweet yesterday, 'It’s time to break the two-party monopoly,' has sparked widespread discussion online. If the news is true, this would be the most significant attempt at a third party in American politics since Theodore Roosevelt formed the Progressive Party in 1912.
#TradersLeague $BTC

#马斯克计划成立美国党 Elon Musk may form the 'American Party'? Tech giants want to reshape the American political landscape Recently, the world's richest man and tech leader Elon Musk has once again become the focus of public opinion. According to insiders, he is considering establishing a new political party called the 'American Party', aimed at breaking the deadlock of the two-party system in the United States and promoting technology-driven reforms. This news has quickly sparked heated discussions, with supporters believing Musk's influence could bring about real change, while critics question whether his motives involve political speculation. Musk has previously criticized both the Democratic and Republican parties, arguing that the two-party system can no longer address today's challenges. If the 'American Party' is established, its core agenda may focus on technological innovation, freedom of speech, immigration reform, and sustainable energy, appealing to young voters and independents. However, forming a new political party faces significant challenges, including funding, voter base, and electoral system barriers. Analysts point out that if Musk truly takes this step, it will fundamentally change the American political landscape. But whether he can succeed still depends on his ability to build broad consensus. What do you think? Feel free to discuss in the comments!

#比特币巨鲸动向 比特币巨鲸近期大额转账激增，市场或迎变盘信号
链上数据显示，过去一周比特币巨鲸（持有1000+BTC的地址）活动显著增加，累计转移超过5万枚比特币。其中一笔单笔转账达1.2万枚BTC，价值约7.5亿美元，引发市场关注。这些转账主要流向冷钱包存储和交易所，显示巨鲸们正在调整持仓策略。值得注意的是，部分巨鲸地址在比特币跌破6万美元后开始增持，这可能预示着市场即将迎来重要转折点。分析师建议密切关注接下来72小时的链上活动，特别是交易所净流入量的变化。

Evolution of Meme Coin Culture: From Speculation to Community Empowerment
Recent studies show that a new generation of Meme coins like BOME, WIF, etc. are attempting to break away from mere speculation models by: 1) establishing creator funds; 2) developing practical features (such as domain services); 3) participating in governance decisions to achieve value upgrades. Data indicates that the proportion of institutional wallets among top Meme coin holders has risen from 1% to 5%, reflecting a shift in market perception. However, experts warn that 99% of Meme coins will ultimately go to zero, and investors should pay attention to core indicators such as community activity, liquidity depth, and fairness of token distribution.

#TradersLeague $BNB

Global Competition in Stablecoin Regulation, G7 to Introduce Unified Framework
According to the Financial Times, the Group of Seven (G7) plans to launch unified regulatory standards for stablecoins by the end of the year, focusing on: 1) 100% reserve audit requirements; 2) Issuer capital adequacy ratios; 3) Cross-border payment compliance processes. This move could trigger a chain reaction: 1) USDT facing greater compliance pressure; 2) Bank-backed stablecoins accelerating development; 3) Offshore stablecoin market contraction. Meanwhile, the EU MiCA regulation is set to come into full effect, reshaping the global stablecoin regulatory landscape.
#TradersLeague $BNB

Breakthrough in Zero-Knowledge Proof Technology, zkEVM Competition Intensifies
zkSync, Starknet and other zkEVM solutions have recently undergone intensive updates, with transaction proof times reduced by 40% and Gas costs lowered by 60%. The breakthroughs in technology are mainly reflected in: 1) Maturity of recursive proof technology; 2) Application of hardware accelerators; 3) Compiler optimization. Currently, various projects are competing for developer resources, with Starknet launching a $500 million ecosystem fund, while Polygon zkEVM strengthens compatibility with the Ethereum toolchain. Experts predict that with the performance improvement of ZK-Rollup, the first zkEVM application with a daily active user base of one million may appear next year.
#TradersLeague $BNB

The Asian cryptocurrency market is recovering, and the benefits of Hong Kong's policies are becoming evident.
With the approval of digital asset ETFs in Hong Kong and the launch of compliant exchanges, the activity in the Asian market has noticeably rebounded. Data shows that the trading volume of crypto derivatives on the Hong Kong Stock Exchange increased by 120% month-on-month in May, and the over-the-counter premium for stablecoins reached 0.8%. Behind this trend are: 1) Mainland funds seeking new investment channels; 2) Increased allocation demand from family offices; 3) Expansion of payment scenarios in Southeast Asia. However, regulatory risks still exist, as the Hong Kong Securities and Futures Commission recently halted several suspicious token sales, emphasizing the importance of investor protection.
#TradersLeague $SOL

The user base of Web3 social protocols is surging, but the monetization challenge remains unsolved. Farcaster's daily active users have surpassed 100,000, and the number of applications in the Lens Protocol ecosystem has doubled, showing an explosive growth in decentralized social (DeSoc). The core advantages of these protocols are: 1) data sovereignty belongs to the users; 2) no platform fees; 3) social graphs are composable. However, commercialization remains the biggest challenge, with current main revenue sources being: 1) appreciation of protocol tokens; 2) NFT membership systems; 3) creator tips. Analysts point out that if a sustainable profit model cannot be established, the current user growth may be difficult to maintain.

The cryptocurrency options market is booming, with a surge in institutional hedging demand
Deribit data shows that Bitcoin options open interest has surpassed $20 billion, and Ethereum options trading volume has reached an all-time high. This phenomenon reflects: 1) Institutional investors are increasing their hedging efforts; 2) Market volatility expectations are rising; 3) Diversification of options strategies is developing. Notably, the open interest for BTC call options with a strike price of $80,000 for the end of the year has surged, indicating that some funds are betting on a breakthrough of previous highs before the year's end. The activity in the options market often signals that a significant turning point is approaching, and investors need to closely monitor changes in volatility.
#TradersLeague $BNB

The Rise of Real Yield Protocols, ushering in the 2.0 Era of DeFi
As the speculative frenzy subsides, Real Yield protocols that provide stable cash flow are becoming the new favorites in the market. Data shows that protocols like Pendle and Ethena have seen a monthly TVL growth of over 50%, with users able to earn an annualized yield of 10-20% through staking. The innovations of such projects include: 1) directly distributing protocol income to token holders; 2) developing stablecoin hedge strategies; 3) adopting sustainable token economic models. Unlike traditional DeFi mining, real yield projects place greater emphasis on fundamental value and may lead the next wave of DeFi innovation.
#TradersLeague $ETH