Bitcoin ETF

BlockBeats News, June 10th - According to Reuters, Elon Musk's SpaceX IPO has attracted over $250 billion in investment demand, with an oversubscription ratio of 3.5 to 4 times, far exceeding its planned fundraising of $75 billion. Long-term funds have submitted large subscription orders, and Musk himself briefly attended part of the investor Zoom roadshow. SpaceX President Gwynne Shotwell and CFO Bret Johnsen attended an institutional investor luncheon hosted by Morgan Stanley in Manhattan on Tuesday, meeting with around 300 institutional investors. The IPO pricing is expected to be finalized this Thursday afternoon. SpaceX's roadshow materials emphasize three major growth engines: Starlink, AI, and space data centers, with the company stating that the potential market size for its AI business could reach as high as $23 trillion. The company stated that by deploying data centers in space, it can overcome the capacity limitations of ground infrastructure and fill the US computing power gap. This IPO comes during a period of high market volatility, with the Nasdaq index recording its largest single-day drop in over a year on Friday, and Bitcoin having fallen 37% from its January peak. Some analysts believe that investors selling off other assets to participate in the SpaceX IPO may be one of the reasons for the recent market correction.

On June 10, the trading departments of Barclays and Goldman Sachs issued a warning that last Friday's sell-off caught investors, accustomed to momentum stocks only going up, off guard. However, investors should not easily dismiss it as a one-time anomaly. Factors such as crowded positions, narrow market breadth, and the prospect of interest rates remaining high for an extended period make the US stock market more susceptible to sudden pullbacks. Goldman Sachs trader Lee Coppersmith and others wrote in a report to clients: 'These factors together create an environment where the impact of factor trading unwinding may be far more severe than the volatility levels indicated at the index level.' Alexander Altmann, head of global equity tactical strategy at Barclays, stated that following last Friday's sharp decline, volatility-controlled funds may need to reduce their US stock allocations by about 14 percentage points. This would represent the largest single-day de-risking operation since February 6.

BlockBeats News, June 10th, according to Bitget market data, the "White-Haired Stock God" Serenity's recommended stock list suffered a crash, with its heavy-weight recommended stock SIVE dropping by 14.4%; others including AXTI dropping by 15.2%, AEHR dropping by 10%, AAOI dropping by 17%, HPS.A dropping by 6.7%, SOI dropping by 10.4%, NVTS dropping by 13.8%, NBIS dropping by 6.5%.