On June 8, 'White-Haired Stock God' Serenity indicated that the market may be underestimating the significance of JPMorgan's disclosure of holding over 5.25% of Sivers ($SIVE) shares. He pointed out that the $135 million investment size is not large for major U.S. institutions, but due to the limited number of circulating shares, institutions can only gradually absorb shares from retail investors. Serenity believes that JPMorgan's entry signals to other institutions that large funds are buying circulating shares, which may further attract more institutional capital. Additionally, due to the high short position in Sivers' circulating shares, short-selling institutions, including some Swedish hedge funds and quantitative funds, may face pressure to cover their positions. This event reaffirms the investment logic of 'retail investors positioning ahead of institutions' and may become an important signal for the next CPO supercycle. Previously, Serenity had stated that JPMorgan had increased its stake in Sivers to over 5% in the past month, marking a clear signal of significant institutional capital absorbing circulating shares for the first time.