Some friends have already started to agree with my thoughts that the advantages brought by the approval of 401K outweigh those of the $BTC spot ETF. Just yesterday, I was saying that if 10% could enter the cryptocurrency market, it would be enough to change the market landscape. Now, let alone 10%, even if just 1% of funds enter, it would be easy for Bitcoin and $ETH to rise by 10%.

Unfortunately, from my personal understanding, 401K will not directly buy cryptocurrencies; it will more likely invest in ETFs or some crypto stocks. Therefore, the entry of 401K can indeed boost investor sentiment and bring in more funds, but for cryptocurrencies that are not "compliant" in the U.S., the emotional support is greater than the financial support.

This article is sponsored by #Bitget ｜ @Bitget_zh

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