Welcome to what is easily the most bullish Trader Top 9 of all time. As if blasting through $20,000 wasn't enough, the news has come rolling in strong and steady.
9. First, let’s set some background for this price rally, given that yesterday was also the Fed's FOMC meeting
8. Let's also give Ethereum its due. While it hasn't been the headliner this rally, there are reasons to think that some of that institutional interest we're seeing in BTC is going to find its way to Ethereum as well, aided in part by the CME's new offering
7. Speaking of ETH, it is one of the two assets (alongside BTC) that a fund Alan Howard is involved in has quietly pumped $600m into over the past few months
6. An even bigger institutional investment came from UK asset manager Ruffer, who have plowed 2.7% of their AUM into bitcoin - about $744m worth
5. Guggenheim, whose bitcoin exposure we heard about last week, sent their CIO to Bloomberg TV to quote a $400,000 per bitcoin price target.
4. But even Guggenheim's $230B AUM is a triviality compared to Northern Trust's $1.3T AUM and $13.1T custodied. They've just teamed up with Standard Chartered to offer institutional crypto custody.
3. And then, of course, there's Grayscale. They've grown from $7.6B AUM to $13B Aum since November 1st thanks to GBTC. Does this make them the fastest growing asset manager in history?
2. Yes, there is simply no way to deny how bullish things are right now.
1. Is this the beginning of a multi-year bull market? For that, we'll just have to wait and see.