Detain_Crypto

Ex-ETHE, $1.5+bil has come into spot eth ETFs since launch…   In less than *2 weeks*.   For context, if viewed cumulatively, that $1.5bil would = top 5 ETF launch this yr.   Funny thing about that is 4 ETFs ahead of spot eth ETFs are all spot btc ETFs.   “No demand” I was told.

VanEck is out here predicting a $52 MILLION dollar Bitcoin price by 2050. That's a market cap of... *check notes* $1 QUADRILLION dollars. Meanwhile I see the rabid ETH bulls on my timeline predicting ETH tops between $7k and $10k this cycle. However ETH is objectively better money than BTC. If USD is the reserve currency of the world, then ETH is the reserve currency of crypto. It currently forms the backbone of onchain finance. In a future where: -Everything is tokenized -Hundreds of trillions of dollars are onchain -Entire nations operate their financial system onchain ETH will continue to grow as a legitimate form of money. Remember almost every new L2 that launches exports ETH the asset as the primary currency of that ecosystem. It's reasonable to assume those who choose this path will back their currency, at least in part with ETH or some sort of stable asset backed by ETH. Many will laugh at this and excuse it. But I think it's far more likely that ETH becomes a reserve currency of sorts one day. If that's the case then according to VanEck's numbers ETH would be sitting at around $23 million at a comparable market cap. That's a 6969x from here (not a joke, that's actually the number, lol). You are not bullish enough.

[🌲] BlackRock (ETHA) Daily ETH Flows: +265.5m: BBG