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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.

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Discussion

Fiat Shenanigans 🤡🌎 1y ago

I would expect in the next few years to see sophisticated eth staking funds offering yield.

Aron 1y ago

There are TOO many profiting massively from the banking and government model. If somehow a small group can push a similar sistem that small group will benefit the same BUT it will seems like it is appreciating (because will devalue less than de dollar.)

Ignorant people will be happy " it's the second best I am diversified in 2 similar things , eth etf will work and will bring in profits(compared to dollar of course) .

The difference is it will never become so spread because it's design to enrich the same small group forever.