Risk appetite among professional investors is surging:

Institutional investors’ equity allocation rose to 54.8% in July, the highest since the early months of the 2008 Financial Crisis.

This is now ~4 percentage points above its long-term average.

Excluding 2008, such a high allocation has only been seen during the 2000 Dot-Com Bubble.

Institutional investors now hold 17.5% of their capital in cash and 27.6% in fixed income excluding Treasury Bills.

All while State Street’s Investor Risk Appetite Index hit its second-highest reading in 11 years last month.

Professional investors have rarely been this bullish.
(@TheKobeissiLetter)

According to Reuters, Citigroup is considering offering custody and payment services for stablecoins and crypto ETFs. Its first focus is providing custody for high-quality assets backing stablecoins, while also exploring custody of digital assets supporting products such as bitcoin spot ETFs. Citi is additionally developing services to use stablecoins to enhance cross-border payments and enable instant settlement. — link

because if you've observed well enough

you'll realise hype is not a risk on coin

flows move out of hype to chase greater returns in times of risk on

but returns to safe haven when things get uncertain

remember how almost all of ct hid in hype just months back

its not that ct doesn't understand how great hype is fundamentally

we have constant .hls bullposting about hype almost everyday to remind people

its just the expectations of upside ceilings and the urge to chase greater gains in times of good conditions

all just short term pa for hype anyw

$USELESS listed on Binance futures

via @NewListingsFeed