Trader buys IBIT, ETHA, says crypto stock valuations are attractive

Prominent trader Serenity (@aleabitoreddit) announced on X that he purchased BlackRock's IBIT and ETHA when Bitcoin was at $62,187 and Ethereum was at $1,755. He noted that this was not intended as a long-term hold, stating that while the crypto market downturn is negatively impacting stocks like Robinhood (HOOD) and Coinbase (COIN), the valuations of these crypto-related equities have become attractive from a swing trading perspective. Serenity suggested that talk of a crypto-friendly administration and strategic reserves appears to have been unfounded and viewed the push for the CLARITY Act as a negative development influenced by banking lobbies. Serenity has 578,000 followers on X and has recently gained attention in the global trading community for verifying returns in the thousands of percent.