Where did this idea come from?
As Bitcoin ETFs started gaining traction, it was only a matter of time before Ethereum, being the second-largest cryptocurrency by market capitalization, entered the spotlight. The idea is to provide investors with a regulated and accessible way to invest in Ethereum without the need to directly purchase and manage the cryptocurrency.
Industry and player.
The cryptocurrency industry has seen significant institutional adoption over the past few years. Key players in the financial world, including investment firms and hedge funds, have started recognizing the potential of Ethereum and other digital assets. Institutions such as Grayscale and VanEck have been at the forefront, pushing for the approval and launch of Ethereum ETFs.
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VanEck's latest advertisement collab with Pudgy Penguins for their Ethereum ETF highlights the evolving landscape of cryptocurrency investments, emphasizing Ethereum's status as the second-largest cryptocurrency by market capitalization.
In essence, VanEck's advertisement paints a picture of an exciting future where traditional and decentralized finance converge, with their Ethereum ETF leading the charge towards a more innovative and inclusive financial ecosystem.
Just another FOMO?
The surge in interest surrounding Ethereum ETFs could be seen by some as just another wave of "Fear of Missing Out" (FOMO). However, the backing of reputable financial institutions and regulatory bodies suggests that it is more than a fleeting trend. The structured nature of an ETF provides a safer and more convenient entry point for investors, potentially leading to more stable and sustained growth in the market.
Bitcoin, ethereum, and geopolitics.
The relationship between Bitcoin, Ethereum, and geopolitics cannot be ignored. Cryptocurrencies, challenge traditional financial systems. While Bitcoin has often been seen as "digital gold," Ethereum is viewed as the backbone of decentralized applications. The approval and adoption of Ethereum ETFs could signal a shift in how countries view and regulate digital assets.
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Online 2.0 or full giga onchain?
The debate between "Online 2.0" and "Full Giga Onchain" continues as the crypto community and financial institutions explore the future of blockchain technology.
My view, an Ethereum ETF represents a step towards "Online 2.0," not onchain yet
However, the ultimate vision of "Full Giga Onchain" remains, where decentralized finance (DeFi) and blockchain-based applications operate independently of traditional financial systems. The success of Ethereum ETFs could pave the way for more innovative financial products and a gradual transition to a more decentralized future.
