For a bit of back story I got started with Bitcoin back in 2011 when it was under $100 and since then I have to say the ecosystem for bitcoin and for crypto have really changed.
From a meme coin at the time, a unknown as to what this thing was or might ever become to now one of the largest assets in the WORLD. Bitcoin and the crypto space has gone through major shifts.
In todays article I don't want to talk about this history of it but instead the ecosystem we see ourselves in today for bitcoin. This is to help us get a better idea as to what blockchain and cryptocurrency is and is becoming.
A Shift
Right now crypto is in another major shift. I remember saying years back when exchanges started to require KYC that their days where numbered. Well it wasn't because of KYC go figure it was because of what's happening now.
Money is flowing out of exchanges at a record level and instead is going into ETFs.
In fact over 500,000 bitcoin has been bought from just 54 days of trading of these ETFs and it's also expected that many of the big players are not even yet involved yet.
The shift is our of exchanges and into what are known as more "trustworthy" sources like blackrock. People invest where there's lower risk and right now having your crypto on an exchange is high risk and has been for a while.
Blackrock the company that pretty much owns the worlds money has come on to say that their Bitcoin ETF is the fastest growing asset they have ever had.
Ethereum
Right now a lot of people are hung up on the SEC going after Ethereum as a security. However what many people don't understand is even if it came under as a security Blackrock and other companies could still launch a ETF for the asset. They just need to know for sure how to classify it for the ETF.
What you have to understand is companies like Blackrock are the real ones that run the world and not the SEC and government anymore.
Money talks and right now governments have zero money and in high debt while companies like Blackrock just continue to build and grow profitable.
You can think of Fiat money as the "voting" system of the world like holding tokens is the voting system for DAOs. The more you have of it the more power and weight you have in that world.
That being said it's pretty clear that a Ethereum ETF is going to happen at some point and then I'm sure other token assets will come behind that.
This opens us up to speculation again.
Solana
There's been a lot of hype around Solana and it's been one of the bigger asset gains so far in this bull market. It's now speculated that after Ethereum that Solana might be the next bet for a ETF approval focusing on Grayscale.
What token do you think will be next for a ETF after Ethereum?
Posted Using InLeo Alpha
