Coinbase Asset Management reposted this
Crypto’s Catapult! Bitcoin ETFs provide a familiar first step in the evolution of the financial system. Institutions are embracing crypto. Read on… You have every right to be confused. Don't dwell. Markets do that to the best and brightest. Trading profits are especially damaging to the investor psyche, leaving them vulnerable to the market’s invisible hand of humility. Fear not. Bitcoin ETFs aren’t about prices up or down in the short term. They’re a step advancing the financial system to provide better, cheaper, faster services to the ultimate beneficiaries: PEOPLE But if it’s about “the people,” then why is the new crypto narrative centered on institutions? Well, institutions dominate financial assets. Yes, crypto technologies hold promise of more financial independence. But that’s not where it starts. Progress starts from a familiar place – and now institutions can easily access bitcoin on behalf of the individuals they have the privilege to serve. Institutions are also seeing the bigger picture – change is good (and inevitable). There are $157 trillion financial assets in the US economy. Improving the efficiency of managing those assets will yield massive benefits. Businesses will gain access to cheaper capital. Lower costs will push prices down for consumers. And people will keep more of their investment income. Bitcoin ETFs are the gateway, not the destination. Full market note: https://lnkd.in/ewekyyJ2
