Wall Street bankers are all betting that the ETH ETF gets approved.

Wouldn’t be surprised if it does, as it could be a profitable short term trade for insiders, just as buying Bitcoin before the ETF approval was a profitable trade, followed by a sell-the-news event as those high-time preference investors lock in fiat profits.

Yet, unlike Bitcoin, Ethereum lacks absolutely, verifiable scarcity, it cannot be meaningfully self-custodied, and it is not a censorship resistant asset.

For these reasons, even if the ETH ETF does get approved, there is no guarantee it will surge in the weeks and months to follow as Bitcoin did.

Plus, ETH has the added difficulty of needing to stave off the endless supply of newer cryptocurrencies. For if ETH can get ETF approval with a 70% pre-mine and centralized management team, why wouldn’t the SEC approve every other scamcoin ETF proposal?

#Bitcoin only, or prepare to be rugged.