ETFs don't excite me in the slightest, but then again I don't care about mainstream adoption if it means crypto becomes TradFi 2.0 with all the the same gatekeepers and regulators.
ETFs don't excite me in the slightest, but then again I don't care about mainstream adoption if it means crypto becomes TradFi 2.0 with all the the same gatekeepers and regulators.
Yeah, that's what it's gonna be and what I have been saying in my Articles. Bitcoin is going to become a Tradfi asset with consentrated ownership.
I'm glad I'm not alone in this. It is a bit sad to see so many crypto bros cheering for multi-trillion dollar asset management companies like BlackRock wanting to be able to speculate on BTC through futures markets and ETFs.
On some level BTC will always be free to use, but if tx fees get too high it will probably only be usable on something like the Lightning Network, which will eventually have centralized nodes owned by massive banks and corporate players, all requiring KYC to use.
I've never been a fan for either as well. But if you want those big dollars it's what has to happen.
It was inevitable, but I can't say the old crypto bro in me isn't a little disheartened by the whole thing.