4E: Morgan Stanley increases its holdings in Bitcoin ETF, SEC and CFTC approve spot trading

ChainCatcher news reports that according to 4E observations, Morgan Stanley, with an asset size of $1.7 trillion, disclosed the purchase of $188 million in Bitcoin ETFs in the second quarter, indicating that top Wall Street funds are still increasing their positions in BTC.

On the regulatory front, the U.S. SEC and CFTC have rarely spoken jointly, allowing registered trading platforms to conduct cryptocurrency spot trading, covering CFTC-registered designated contract markets, foreign exchanges, and SEC-registered national securities exchanges. SEC Chairman Paul Atkins and CFTC Acting Chair Caroline Pham stated that this move opens a pathway for digital assets to enter the existing financial regulatory framework until congressional legislation is enacted.

In personnel matters, U.S. Treasury Secretary Yellen will begin intensive interviews with 11 candidates for the Federal Reserve Chair starting this Friday, with finalists including Governor Waller, Bowman, and former Governor Warsh. The final recommendation list will be submitted to President Trump for decision.

In market dynamics, Bitwise Europe reports that the current bull market cycle is unlikely to peak in 2025, indicating that there is still room for capital to enter. CryptoQuant analysts point out that BTC has retraced about 12% from its peak, still below the historical average range of 20% - 25%, which is considered a healthy adjustment.

Additionally, Greeks.Live reveals that ETH has significantly weakened relative to BTC, with the market showing a pattern of "Bitcoin rising alone while mainstream coins fall." Market speculation is focused on the $4,400 level, with initial signs of whale buying emerging.

4E reminds investors: Institutional accumulation and regulatory easing release positive signals, but short-term volatility and macro uncertainty remain. Investors are advised to maintain patience in their positioning and pay attention to the structural differentiation between BTC and ETH.