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Wall Street may soon turn its attention to Ethereum ETFs. While interest remains low, Ether's significant role in decentralized finance and blockchain technology presents a unique investment opportunity that could attract institutional investors.
The Simplified Pitch for Ethereum
Ethereum has previously been referred to as "digital oil" and "the internet of money," but some are concerned that it lacks an elevator pitch and that Wall Street may find its highly technical roadmap challenging to comprehend; this could reduce demand for spot Ether ETFs, according to Cointelegraph.
The director of research at 10x Research, Markus Thielen, describes how he and others consider Ethereum to be pitched.
Stablecoins, tokenized real-world assets, and nearly all of the world's most prominent decentralized finance protocols are already hosted on Ethereum. As "the network empowering the future of finance," Wall Street investors find Ethereum considerably more straightforward to comprehend, per Thielen.
Nevertheless, the present scenario could be impacted by Ethereum's user loss and the relatively slow pace of network updates.
Comparing Ethereum and Bitcoin
One idea from Henrik Andersson, chief investment officer at Apollo Crypto, is that Ether has more potential than Bitcoin. Even though Ethereum has a complex six-stage technical roadmap, Andersson is certain that Wall Street investors will not be scared off by the cryptocurrency's prospective price increase.
Bitcoin has a market cap of $1.34 trillion, about three times bigger than Ether's $453 billion. "Others are likely to view Ethereum simply as a smaller and faster growing crypto asset," he added.
An alternative marketing strategy for Ethereum would be to present it as a platform enabling "decentralization of all kinds of services," including anything from artificial intelligence to social networks and finance.
Institutional Adoption of Ethereum
Still, a number of well-known Wall Street figures have started investigating Ethereum's potential applications, and their research has been fruitful thus far.
Larry Fink, the CEO of BlackRock, claims that all stocks and bonds will be tokenized on a blockchain in the future.
In March, BlackRock, one of the authorized spot Ether ETF issuers, tokenized its $470 million BlackRock USD Institutional Digital Liquidity Fund using Ethereum.
On May 23, the SEC approved 19b-4 applications from VanEck, BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy, and Bitwise to issue spot Ether ETFs.
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