Crypto analyst Jamie Coutts CMT commented on a tweet from macro investor and Real Vision CEO Raoul Pal, saying that I agree with you (Raoul Pal) that the market is too optimistic about ETFs in the short term.
They do create an investment portal for the cryptocurrency economy, but I think the integration of stablecoins does more to develop adoption and utility.
Raoul Pal, a macro investor and CEO of Real Vision, said on social media that when talking about mental models (see previous tweet on artificial intelligence), BTC and ETH ETFs are not a panacea for massive inflows.
The way to think about them is that they are trade agreements between the crypto economy and the Tradfi economy, allowing new FDI (foreign direct investment) into the crypto economy.
Foreign direct investment will flood into the cryptocurrency economy only when investors are convinced that returns on investment will increase.