TL; DR
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Fidelity, one of the loudest mouths in the old financial system, just filed for an Ethereum ETF.
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Collectively, BlackRock and Fidelity have a total of $13 trillion under management.
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Two weeks ago, the concept of an Ethereum ETF that would launch about a year later felt pretty far out of the realm of possibility. But BlackRock and Fidelity tend to get what they want.
Full story
Dave Ducan was the “rich kid” at our elementary school.
(His parents owned several car dealerships).
Dave often made (what did it sound like to us) really insane claims about what awaited him.
For example: one year he predicted that for Christmas he would get a 10-speed bike, an N64 and a PlayStation… and that’s exactly what happened (we were all secretly smoking).
What does this have to do with crypto?
It’s all to emphasize that:
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Money talks, and…
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Fidelity, one of the loudest mouths in the old financial system, just filed for an Ethereum ETF.
(All this in response to 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: BlackRock and Fidelity together have a total of $13 trillion under management.
(Take the GDP of Germany, Japan and Britain – add them up – and BlackRock + Fidelity’s total collective assets under management still exceed this).
What’s the takeaway?
Two weeks ago, the concept of an Ethereum ETF that would launch about a year later felt pretty far out of the realm of possibility.
But like Dave Ducan before them, BlackRock and Fidelity tend to get what they want.
That means things are looking up!