If you want more gambling in the space the only true next evolution for crypto is derivatives on the newly created $BTC ETFs. Last week the Securities and Exchange Commission (SEC) asked for comments from the public about a proposal from Nasdaq that would allow for options trading on BlackRock's spot BTC ETF.
The comment period will last for 21 days and the Exchange proposes to amend Options 4, Section 3, Criteria for Underlying Securities, to allow the Exchange to list and trade options on iShares Bitcoin Trust (the 'Trust') as a Unit deemed appropriate for options trading on the Exchange. Options could be approved before end of February if SEC wants to move fast which would be pretty wild considering their hesitation and opposition of crypto over the past few years.
The X factor to this conversation is BlackRock. They are arguably more powerful than the regulators. Since receiving the green light from the SEC to list its spot bitcoin ETF, the iShares Bitcoin Trust, they brought in$145.5 million in inflows in a single day. There is a lot of money to be made and these institutions will do what ever they can to capitalize.
They are even vying for a spot Ethereum ETF which is just the start of ETF craze. I could see ETFs for most major coins and derivatives rolled out shortly after. I'm not opposed to options on crypto, but it does add a lot of leverage to the system. As a US based crypto enthusiast it's difficult to trade derivatives. In my case that's probably a good thing looking at at people who leverage there portfolios to crazy levels. With the volatility in crypto that can blow an account up in mins. I think institutions want these products because they have figured out howe much they can make from options day traders.