Investors did not find what they expected in June, and altcoins hit new, deeper lows. So, what will happen in July? As of July 1, a significant development could affect volatility in cryptocurrencies. We will see the impact of the same major development on prices for the second time this year. Here is what awaits us starting Monday.
Will Cryptocurrencies Rise?
Starting Monday, companies will begin submitting their 13F forms to the SEC. What does this mean? 13F forms provide information about the ETFs held by companies. Following the listing of the Spot Bitcoin ETF, this has become something even more closely monitored in the US.
It will be possible to infer which companies hold BTC ETFs and the interest of investment companies’ clients in this area. We saw the details of this report for the first time in the last filing period, and in the coming days, we will learn how many of the companies that accumulated billions of dollars in ETFs sold, and which new companies entered this field.
Prepare for Volatility
MacroScope particularly highlighted the 13F filings, which are expected to bring volatility for investors. This filing period will be much more exciting because we have seen net outflows in the ETF channel for the past few weeks. MacroScope wrote on its social media account:
“At the beginning of July, we will start to see a new round of 13F filings for BTC ETFs. These filings will show which institutions opened positions, exited positions, or added to positions in April, May, and June. These applications will start with some delay and will continue until the mid-August deadline.
BTC spent almost the entire quarter between 60-70 thousand. Are you curious about which funds made purchases in this range? We are about to find out. It goes without saying that this filing round will be closely watched by traders and investment managers (and financial journalists should be ready). It is not hard to predict that there will be other surprises like Wisconsin.”
If it turns out that interesting new companies are accumulating BTC ETFs, this could be quite supportive for a rise in cryptocurrencies. We will continue to share new developments on this topic instantly through COINTURK.
