This train will not stop.
This week, Wall Street has announced a number of ETFs, and related crypto companies have been servicing them.
Today’s hybrid is what I am talking about Ethereum-Bitcoin ETF, yesterday’s XRP ETF, and what will likely be 2025’s basket memecoin ETF offering exposure to everything from PEPE to GIGA to HarryPotterObamaSonic10Inu.
Takeaway: arguably dismal The only problem with the launch of ETH ETF is that it will not be followed by more ETFs. I am sorry, but you are looking at things too far. $1 trillion price tag The rest of the Crypto Industry
Wall Street is determined to continue doing things to make money.
Okay, that might not be an Ethereum exchange-traded fund in a down market. It’s difficult to believe that, in a world with a regulatory climate where U.S. regulations continue to be increasingly strict. “more advantageous to the industry,” It’s not like there are 15 or 20 ETFs that all have the same pumping speed in a market bull.
Perhaps you forgot how XRP spiked to $4 in 2017 or how DASH soared to $700 in 2018, how JPEGs fetched hundreds of million in 2021. Newsflash: Retail buyers make up 80% ETF purchases. according to Blackrock.
Perhaps you believe that our long-term proselytizing of Rick Rubin, and others like him, has somehow permeated the collective mind. You might bet on Kamala getting elected and that Gary Gensler will keep the SEC from regulating crypto.
That’s fair enough. It’s not what I see. It’s not a world I see. There won’t be a Bitcoin-only ETF in the near future.
Wall Street doesn’t embrace Michael Saylor’s tao, and they do not view President Nayib Bukele as a genius for the developing world. No, they don’t believe Bitcoin will be a barrier to money printing. It doesn’t even matter if research reports are written in this regard.
The goal is to earn USD by selling ETFs.
The fact that they have not been convicted Buyers. The accused are found guilty Buys. There is a big difference.
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Source: bitcoinmagazine.com
