4E: Institutions up the ante crypto asset exposure; multiple crypto-themed ETFs are densely listed

On October 28th, according to 4E observation, the US stock market showed signs of up the ante crypto asset-related stocks on Monday. Cathie Wood's Ark Invest bought about $30.90 million of Block Inc. (SQ) shares through three ETFs, of which ARKK bought 210,000 shares, ARKW and ARKF bought 59,000 and 114,000 shares respectively. Block shares closed up 0.77% at $80.15. The stock rose more than 37% in half a year, indicating that traditional institutions' interest in the crypto payment track continues to heat up.
The ETF circuit also ushered in a new round of centralized product listings. Canary Capital announced that its Litecoin ETF and HBAR ETF will list on Nasdaq on Tuesday; grey release Solana Trust ETF is expected to list on Wednesday, and Bitwise Solana Pledged ETF will debut on the New York Stock Exchange.
In addition, Ethereum finance company ETHZilla sold about $40 million ETH to advance a share buyback program of up to $250 million. Since October 24, the company has invested about $12 million to buy back 600,000 shares, and management said it will continue to sell ETH to narrow the discount to net worth. ETHZ still holds about $400 million in ETH-equivalent assets.
On the macro front, US President Donald Trump said he would nominate a successor to Federal Reserve Chairperson Jerome Powell by the end of the year, and five candidates have been shortlisted, including former Federal Reserve Governor Kevin Warsh and BlackRock executive Rick Reid.
4E reminds investors that institutions and crypto ETFs are expanding simultaneously, and the structural differentiation of the market is intensifying. Short-term attention to the marginal impact of ETF subscription rhythm and institutional position changes on crypto asset liquidity.