Wall Street Isn't Bitcoin Only – More Crypto ETFs Are Coming

Credit : bitcoinmagazine.com

Nothing will cease this practice.

No, I am not speaking concerning the Federal Reserve’s cash printer, I am speaking concerning the collection of ETF bulletins from Wall Avenue and the associated crypto corporations serving this week.

I am speaking about as we speak’s hybrid Ethereum-Bitcoin ETFthat of yesterday XRP ETFand what’s going to doubtless be the memecoin ETF of 2025 providing publicity to every little thing from PEPE to GIGA to HarryPotterObamaSonic10Inu.

When you have takeaway from the demonstrably bleak The launch of ETH ETF means there might be no extra crypto ETFs. I am sorry, however you are wanting past the $1 trillion price tag on the remainder of the crypto business.

Wall Avenue needs to promote merchandise that make US {dollars}, and they’ll proceed to do issues that make {dollars}.

Okay, in a bear market which may not be an Ethereum ETF. However that is arduous to think about in a world the place the US regulatory surroundings is changing into more and more “business favorable,” and there aren’t fifteen to twenty of those ETFs all driving a bull market.

You’ll have forgotten how XRP rose to $4 in 2017 or DASH to $700, and the way JPEGs offered for a whole bunch of hundreds of thousands in 2021. Newsflash: 80% of ETF patrons are retail patrons, and that is it according to Blackrock.

Perhaps you suppose that every one our conversions to folks like Rick Rubin have one way or the other seeped into the collective consciousness. Perhaps you are betting that Kamala Harris will get elected, and that she’s going to proceed to permit Gary Gensler and the SEC to beat crypto.

Affordable. That is not a world I see. The Bitcoin crypto constituency is right here, and whether or not it delivers the election for Donald Trump or wins concessions from the Harris administration, which means extra ETFs, not fewer. Actually not a world the place there’ll quickly solely be a Bitcoin ETF.

Once more, Wall Avenue doesn’t embrace the Tao of Michael Saylor, they don’t see President Nayib Bukele as a scholar from the creating world. They do not consider Bitcoin is a bulwark in opposition to cash printing, and no, it does not matter that they write analysis experiences about it.

They are going to do no matter they will to promote ETFs, to make USD.

As a result of they haven’t been convicted patrons. They’ve been convicted sellers. There’s a distinction.

This text is a To take. The opinions expressed are solely these of the writer and don’t essentially mirror these of BTC Inc or Bitcoin Journal.