I honestly don't think a vast majority of people who are now invested in ETFs ever heard of a ETF before or understood what it meant. That's the power of a single asset class being approved that the vast majority of people want. Want more then even gold!
This year has been nothing short of ETF craze as not only were $BTC (BITCOIN) ETFs approved but so were Ethereum ETFs not all that long ago. But that's only here in the USA.
Other countries are starting to jump on the band wagon now as Australia is set to launch it's own ETF which is expected to have a rather large impact on the price in a positive manner.
It's a bit harder to figure out what might happen being that the Australia markets are half way across the world but based on it's smaller population and smaller but good GDP it won't have that large of an impact. The GDP comparison to the USA is 1/25th. However what this does show us is a much wider crypto adoption happening through ETFs but more importantly through spot ETFs which directly impact the price of the asset unlike futures contracts (etfs) which to me are pure garbage it's honestly like sports betting and gambling more than investing.
Now how this paints in a larger picture is we have seen since the USA adoption of Bitcoin and now Ethereum as ETFs other countries. The USA holds a vast majority of it while the EU comes in second, Canada 3rd, Brazil 4th and now Australia who has just launched their own in 5th. I didn't even catch with of how Hong Kong was doing with their ETF as it seemed to be off to a shaky start. But from what I could find it's a little over 150 million which is pretty wild as that's a drop in the bucket. It seems like most over on the other side of the world however are geared to owning it themselves in their own wallet.
However more so in the "western" world USA etc ETFs seem to be the go to as people like that so called "extra protection" or simply are too lazy or don't trust themselves with owning and controlling their own wallets.
The next steps now are waiting to see if more countries adoption Ethereum ETFs and what possible token might come after that in terms of ETFs. Many are speculation Solana as the next which would make sense being that the market cap is rich and mainly BNB got kicked out of the USA which would have been the next option.
What would be really wild is if we saw a Dogecoin ETF then I would know all bets are off and the bull run is over lol.
There's other promising contenders though as well and we might see the smaller cap projects become ETFs as well around AI for example.
What's really wild to me is we really don't hear much about AI anymore. The buzz has seemed to fade off already and people are not using it as much. In fact I've also found myself using it less or being that excited about it. Mainly because the AI really isn't doing much besides getting a little better at video and image. However the text based got a huge slap from Google as of late which has caused many to simply stop using it which is exactly what I thought was going to happen.
What do you think the next crypto ETF will be?
