Bitcoin spot ETF launches, SEC tames the elephant in the room

Written by: Zuo Ye

Gary Gensler is a good comrade. After Gary first took charge of the SEC, the crypto world was full of expectations for him because he taught classes at MIT and publiclyBlockchainTechnical drums and cheers, it is worth noting that among the recommended books in the "Blockchain And Money" class he teaches, 3/7 of the books are directly related to Bitcoin.

However, after Gary came to power, he frequently launched lawsuits against encryption companies and repeatedly expressed variousTokenThey are all securities, and the masses have accused them of betraying their ideals and original intentions.

Maybe in his opinion,BlockchainTechnology ≠cryptocurrency, but no coinsBlockchainIt's just a joker. What's interesting is that Gary finally gave the green light in this round of SEC voting. As for other spot ETFs, there is no sign of passing them in the short term. It will take time for the market FOMO to calm down.

All in all, this is a good start.

The elephant is sitting on the floor, and Bitcoin is entering the room.

For the earliest Bitcoin enthusiasts, Bitcoin represented a kind of chaos, mixed with multiple factors of anarchy, classical liberalism and technology geeks, so that most humans on earth could not understand why private individuals could issue currency. Why binary data is an asset.

The world we are familiar with is quickly leaving us. If we do not want to die in the world of yesterday, we can only hold on to the sails of the future. In the concept of human assets, we will gradually experience the transformation from physical objects to virtual ones, and from the state to private companies. .

In the current asset ranking, gold, silver and Bitcoin do not have national ownership, and the remaining FAAMG It constitutes everything we yearn for, but it is difficult to say whether Bitcoin is a virtual item or physical hardware. It is different from the natural scarcity of gold and the main business division of the Five Evil People. Bitcoin only relies on its own unique creation Trillions of assets, most of which are tradable.

Regarding how to classify Bitcoin, both China and foreign countries have either stigmatized it for a long time and criticized it as worthless, or they hope that it will sweep the world and transform all traditional financial systems. This sentiment reached a high point after the adoption of the Bitcoin spot ETF. At this point, major applicants started a rate war, and GBTC, which had been covered by Grayscale for many years, alsoXiaobai NavigationFinally, the clouds cleared and the moon shone brightly.

Nowadays, everyone realizes that it is no longer possible to turn a blind eye to the existence of Bitcoin, and after Bitcoin, there are countlesscryptocurrency在排队等着世人发现和认可，在目前的cryptocurrency格局中，比特币独占鳌头，但是 ETH 等 ETF 成为新的热点也在预料之中，不同于以往的 DeFi 和 NFT 等圈内人的自娱自乐，传统金融资产的破圈迫在眉睫。

The mainstreaming of subculture, the fate of dragon slayers

Bitcoin is not a currency, but currency is naturally Bitcoin.

Bitcoin has been doubted and denied for many years, but it has gathered a sufficient number of fans. Since 2011, the number of Bitcoin addresses holding assets has climbed all the way to more than 12 million today. Unlike the number of users of the Internet platform, Bitcoin itself It is a symbol of wealth. Just because you are a Facebook user does not mean that Meta will return its own profits to users. However, holding Bitcoin will continue to appreciate, and there is no sign of Pond's so far.

After Bitcoin enters the market, it will gradually eliminate its anti-authority color and make more peace with real interests. It is also worthy of attention. In the previous inscription war, developers represented by Luke finally gave up restricting inscriptions. After all, Miners need real fees.

In human history, any form of subculture, that is, a cultural type that rebels against the current authority and mainstream, will eventually die as the protagonist grows up. From the hippie movement in the United States to the May Storm in Paris, young people who were once extremely radical Begin to become an active defender of the old system.

Satoshi Nakamoto’s anonymity has fulfilled his mission, and Bitcoin has indeed become a super ledger shared by the world. Next, we will witness another fantastic journey of Bitcoin, how to adapt to life after mainstreaming.

Revelers are noisy, who is the next stop?

In the history of cryptocurrency, there has never been a shortage of challengers to Bitcoin, from BCH and BSV to Vitalik, who was dissatisfied with the conservative nature of Bitcoin and turned to Ethereum in anger. The few words left by Satoshi Nakamoto will be regarded as holy words by believers, or In other words, after Satoshi Nakamoto, the evolution of Bitcoin has leveled off, and it has become difficult to have revolutionary innovations.

This is the best era because it gives other cryptocurrencies a good opportunity to improve themselves, similar to not only Ethereum, but also China’s Ethereum Conflux, Japan’s Ethereum Cardano, South Korea’s Ethereum Terra and India’s Ethereum Polygon.

This is also the worst time, after Bitcoin, for almost any kind ofTokenBoth have serious centralization tendencies. Vitalik and the Ethereum Foundation guide every move of ETH, while Solana is controlled by FTX and Jump respectively. The former helps SOL achieve passive lock-up.

It’s time to talk about the next spot ETF.

还是要请出 Gary，他曾一口气列出 ADA/SOL/MATIC 等多种代币都是证券，但是 Gary 确实没有说过 ETH 是不是证券，即使在在 2023 年 4 月的国会听证会上也坚持如此，颇有马科长神韵。

With the approval of the Bitcoin spot ETF, can ETH become the second spot ETF in Gary's hands?

I remain optimistic about this. Even if it does not pass this year, it will be implemented in the following days. However, except for altcoins other than ETH, there is almost no possibility of being passed in a big way.

This is a relatively successful conclusion for the Bitcoin spot ETF. It can be expected that after the United States nods, Hong Kong will most likely follow suit. The balance of power between the East and the West in crypto assets has been extremely imbalanced, and computing power,exchange, miners and mining machine manufacturers have gradually moved away from the East. Spot ETFs may be able to pull back a little, but the overall situation is already a sigh.

on sanctionsBinanceAfter that, through the Bitcoin spot ETF, the US government and Wall Street skillfully used red and white face strategies to take away the pricing power of crypto assets, and the next one is Ethereum, so what happens after that.

Conclusion

Before the SEC results came out in the early morning, I suddenly thought of a sentence, "An organization is like a tree full of monkeys. All monkeys are on branches at different levels. The monkeys above look down and see what they see. The tree is full of smiling faces. When the monkey below looks up, all he sees is his buttocks."

I watched five people from the SEC all night, and the result I got was that yesterday’s day cannot be forgotten. Family members, let’s welcome the new era of Bitcoin together!

The article comes from the Internet:Bitcoin spot ETF launches, SEC tames the elephant in the room

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