Source: Dan Morehead, founder of Pantera Capital; compiled by: 0xjs@黄金财经
Pantera Capital's November 2023 "Blockchain Letter", titled "Upcoming Bitcoin ETF: Buy The Rumor, Buy The News". (Please refer to Golden Finance's previous report "When Bitcoin spot ETF is finally launched, is it time to sell?")
We believe that the old Wall Street adage "Buy The Rumor, Sell The News" does not apply to the launch of spot Bitcoin ETFs, although it worked well in the days when CME Bitcoin futures went online and Coinbase went public.

Since the launch of the Bitcoin ETF, Bitcoin has risen 103%.

BlackRock’s Bitcoin ETF surpassed its 20-year-old gold ETF in just 11 months. It broke records and is considered the “greatest launch in ETF history” as it surpassed $50 billion in assets five times faster than the next fastest ETF to reach that milestone.
Next month I’ll write a post explaining why I think the impact of the US election is not yet fully understood and is certainly not priced into the Bitcoin market.
The US election is another “Buy The Rumor, Buy The News”.