TL;DR
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Fidelity, one of the loudest mouths in the legacy financial system, just filed for an Ethereum ETF.
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Collectively, BlackRock and Fidelity have a total of 13 TRILLION DOLLARS under management.
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Two weeks ago, the concept of an Ethereum ETF being launched in the next year or so felt pretty far out of the realm of possibility. But, BlackRock and Fidelity have a tendency to get what they want.
Full Story
Dave Ducan was the ‘rich kid’ at our primary school.
(His parents owned multiple car dealerships).
Dave would often make (what sounded to us like) truly insane assertions about what was coming to him.
E.g. One year he predicted he’d get a 10 speed bike, an N64, AND a PlayStation for Christmas…and that’s exactly what happened (we were all secretly fuming).
What does this have to do with crypto?
It’s all to highlight that:
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Money talks, and…
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Fidelity, one of the loudest mouths in the legacy financial system, just filed for an Ethereum ETF.
(All of this following BlackRock’s, from earlier last week).
But we’re dropping names, when – if we wanted to add some weight to this announcement – we should really be dropping numbers…
So get this: collectively, BlackRock and Fidelity have a total of 13 TRILLION DOLLARS under management.
(Take the GDP of Germany, Japan, and the UK – add them together – and BlackRock + Fidelity’s total collective assets under management still beats it).
What’s the takeaway?
Two weeks ago, the concept of an Ethereum ETF being launched in the next year or so felt pretty far out of the realm of possibility.
But just like Dave Ducan before them, BlackRock and Fidelity have a tendency to get what they want.
Which means things are looking up!
