Benjamin Cowen’s recent discussion, collected by the CoinSpeech team, dives into the current state of the cryptoverse with a focus on ETFs, market sentiment, and the rise of AI. Cowen’s fresh video can be found at the end of this article.
Ethereum’s Spot ETF Approval: What Comes Next?
The approval of the Ethereum (ETH) spot ETF was a significant milestone, albeit still in the preliminary stages. Despite the green light, the spot ETF is not yet listed for purchase, leaving investors curious about the timeline. According to Rob from Digital Asset News, the industry experts like BlackRock and others are projecting the final listing by mid-June. “Looks like things are on the up and up. I’m pretty happy about that,” noted Rob.
Future of Altcoin ETFs
The conversation took a turn towards the potential future approvals of ETFs for other popular altcoins like Solana and Polygon. While the excitement is palpable, the hurdles remain high due to regulatory challenges. Guy from Coin Bureau emphasized, “There are two things that give me pause…we need some clarity around definition to start with.”
AI vs. Cryptocurrency: A New Age?
The video also delved into the recent advancements in AI and its impact on markets, including cryptocurrencies. Comparing the AI surge to the dot-com bubble era, Cowen remarked, “The biggest success was rebranding linear algebra as AI.” Guy echoed similar sentiments, suggesting that while 99% of AI-themed crypto projects might fail, the few that succeed could be revolutionary.
Institutional vs. Retail Interest
The panel discussed whether the current rally in Bitcoin and Ethereum is driven more by institutional or retail investors. Despite what might seem to be an Institutional rally, VanEck suggests it’s still mainly retail influx causing ETF inflows. “I think a lot of people will probably limit themselves to Bitcoin; that’s as much risk as they want to take in this market,” Guy stated.
Economic Impact: Europe vs. U.S.
Benjamin Cowen and his guests questioned why the European Central Bank and the U.S. Federal Reserve are taking divergent paths regarding interest rates. Guy pointed out, “I think Europe is in a lot of trouble and it needs to stimulate as soon as possible.” Meanwhile, the U.S. economy seems relatively robust, suggesting a different approach by the Fed.
What’s Next in the Conference Circuit?
Rob shared his observations from the Consensus conference, highlighting the crowd’s excitement. “I honestly believe it’s pretty crowded, and there’s a natural exuberance about people getting into it,” Rob noted, hinting at a potential shift in sentiment among the crypto community.