Nothing will stop this train.
No, I’m not talking about the Federal Reserve’s money printer, I’m talking about the series of ETF announcements from Wall Street and the related crypto companies serving this week.
I’m talking about today’s hybrid Ethereum-Bitcoin ETFthat of yesterday XRP ETFand what will likely be the memecoin ETF of 2025 offering exposure to everything from PEPE to GIGA to HarryPotterObamaSonic10Inu.
If you have takeaway from the demonstrably bleak The launch of ETH ETF means there will be no more crypto ETFs. I’m sorry, but you’re looking beyond the $1 trillion price tag on the rest of the crypto industry.
Wall Street wants to sell products that make US dollars, and they will continue to do things that make dollars.
Okay, in a bear market that might not be an Ethereum ETF. But that’s hard to imagine in a world where the US regulatory environment is becoming increasingly “industry favorable,” and there aren’t fifteen to twenty of these ETFs all driving a bull market.
You may have forgotten how XRP rose to $4 in 2017 or DASH to $700, and how JPEGs sold for hundreds of millions in 2021. Newsflash: 80% of ETF buyers are retail buyers, and that’s it according to Blackrock.
Maybe you think that all our conversions to people like Rick Rubin have somehow seeped into the collective consciousness. Maybe you’re betting that Kamala Harris gets elected, and that she will continue to allow Gary Gensler and the SEC to beat crypto.
Reasonable. That’s not a world I see. The Bitcoin crypto constituency is here, and whether it delivers the election for Donald Trump or wins concessions from the Harris administration, that means more ETFs, not fewer. Certainly not a world where there will soon only be a Bitcoin ETF.
Again, Wall Street does not embrace the Tao of Michael Saylor, they do not see President Nayib Bukele as a scholar from the developing world. They don’t believe Bitcoin is a bulwark against money printing, and no, it doesn’t matter that they write research reports about it.
They will do whatever they can to sell ETFs, to make USD.
Because they have not been convicted buyers. They have been convicted sellers. There is a difference.