Wall Street Isn’t Just Bitcoin – More Crypto ETFs Are Coming

Nothing stops this train.

No, I’m not talking about the Federal Reserve’s money printer, but the string of ETF announcements from Wall Street and the crypto-affiliated firms that service it this week.

I’m talking about today’s Ethereum-Bitcoin hybrid ETF, yesterday’s XRP ETF, and what will likely be the basket memecoin ETF of 2025, offering exposure to everything from PEPE to GIGA to HarryPotterObamaSonic10Inu.

If your conclusion from the probably dismal ETH ETF launch is that there won’t be more crypto ETFs, I’m sorry, but you’re looking beyond the $1 trillion price tag for the rest of the crypto industry.

Wall Street wants to sell products that make US dollars, and they will continue to make things that make dollars.

Okay, in a bear market, maybe this isn’t an Ethereum ETF. But it’s hard to imagine that in a world where the US regulatory environment continues to become more “industry-friendly,” and there aren’t 15 to 20 of these ETFs all performing in a bull market.

You may have forgotten how in 2017 XRP rose to $4 or DASH to $700, how in 2021 JPEGs sold for hundreds of millions. Newsflash: 80% of ETF buyers are retail buyers, and that’s according to Blackrock.

You might think that all our proselytizing of Rick Rubin has somehow seeped into the collective consciousness. You can bet on Kamala Harris getting elected and continuing to let Gary Gensler and the SEC handle crypto.

Fair enough. This is not a world I see. The Bitcoin-crypto constituency is here, and whether they deliver the election to Donald Trump or win concessions from the Harris administration, that means more ETFs, not less. Certainly not a world where there is only one Bitcoin ETF anytime soon.

Again, Wall Street does not embrace the Tao of Michael Saylor, they do not see President Nayib Bukele as a scholar of the developing world. They don’t think Bitcoin is a bulwark against money printing, and no, it doesn’t matter that they write research reports about it.

They will say anything they can to sell ETFs, to make USD.

Because they are not convicted buyer. They are condemned sellers. There is a difference.