đ° Another ETF Fiasco? Why Bitwiseâs CEO Says the DOGE Lesson Made Crypto Users âInvisibleâ
Bitwiseâs CEO recently touted the launch of their NEAR coin ETF and gushed about AI, saying they planned to focus heavily on it. But behind all that shine, he also took a jab at the DOGE coin ETF, saying it âdied miserablyâ because ETF buyers simply donât care about how people use crypto day to dayâthe two groups just donât see eye to eye. It sounds like heâs accusing rich kids who buy antiques of not appreciating the art, but what heâs really saying is this: for crypto to get on the right track, it needs to sort out its user base.
Why does this news matter?
This didnât happen in isolation. Bitcoin and Ethereum are climbing every day, but whoâs paying attention to cryptoâs everyday applications? Itâs like how, in the early days of smartphones, no one cared how the OS was designed, but now itâs become a key competitive advantage. As a long-established crypto firm, Bitwise is holding DOGE up as a cautionary tale and sending a message to the whole industry: bringing in big money through ETFs isnât enough. If the people using crypto donât care, all that money will go to waste. The root cause is that regulators treat the market as purely financial, overlooking cryptoâs nature as underlying technology. Just imagine: if regulators understood the technology, they might not have been so hard on DOGE.
Impact on the market
The short-term impact on BTC and ETH is definitely bearish sentiment. Bitcoin is at $82,794 and Ethereum at $2,492.44, and theyâre doing pretty well. But if crypto is treated purely as a speculative alternative asset, it wonât get far in the long run. Bitwiseâs point is that if ETF investors arenât even interested in DOGE, they probably wonât care about other coins either. The chain of events is clear: institutional money flows in â focus only on price movements â overlook innovation in use cases â crypto becomes a financial instrument â users leave. Any similar cases in history? So many coins were around in 2017âhow many are still active today? DOGE is a classic example.
Trading strategy
đĄ In the short term, this news is bearish for sentiment toward crypto assets. But if it really pushes regulators to treat crypto as a technology asset, that would be a major positive for BTC and ETH. Iâm watching levels below $80K. If Bitcoin falls into that range, it could actually be an opportunityâbecause regulatory inaction is precisely a sign that the market hasnât been overheated by speculation.
If the U.S. Senate goes back on its word again and suddenly changes course to impose strict regulations on DOGE, this thesis is invalid.
This article was not sponsored by any project, and the author does not hold any of the assets mentioned above.
$BTC $ETH #BTC #ETH
â ď¸ This is not investment advice. Predictions are for reference only.
#EthereumSpotETFRecords$161MNetOutflows
Bitwiseâs CEO recently touted the launch of their NEAR coin ETF and gushed about AI, saying they planned to focus heavily on it. But behind all that shine, he also took a jab at the DOGE coin ETF, saying it âdied miserablyâ because ETF buyers simply donât care about how people use crypto day to dayâthe two groups just donât see eye to eye. It sounds like heâs accusing rich kids who buy antiques of not appreciating the art, but what heâs really saying is this: for crypto to get on the right track, it needs to sort out its user base.
Why does this news matter?
This didnât happen in isolation. Bitcoin and Ethereum are climbing every day, but whoâs paying attention to cryptoâs everyday applications? Itâs like how, in the early days of smartphones, no one cared how the OS was designed, but now itâs become a key competitive advantage. As a long-established crypto firm, Bitwise is holding DOGE up as a cautionary tale and sending a message to the whole industry: bringing in big money through ETFs isnât enough. If the people using crypto donât care, all that money will go to waste. The root cause is that regulators treat the market as purely financial, overlooking cryptoâs nature as underlying technology. Just imagine: if regulators understood the technology, they might not have been so hard on DOGE.
Impact on the market
The short-term impact on BTC and ETH is definitely bearish sentiment. Bitcoin is at $82,794 and Ethereum at $2,492.44, and theyâre doing pretty well. But if crypto is treated purely as a speculative alternative asset, it wonât get far in the long run. Bitwiseâs point is that if ETF investors arenât even interested in DOGE, they probably wonât care about other coins either. The chain of events is clear: institutional money flows in â focus only on price movements â overlook innovation in use cases â crypto becomes a financial instrument â users leave. Any similar cases in history? So many coins were around in 2017âhow many are still active today? DOGE is a classic example.
Trading strategy
đĄ In the short term, this news is bearish for sentiment toward crypto assets. But if it really pushes regulators to treat crypto as a technology asset, that would be a major positive for BTC and ETH. Iâm watching levels below $80K. If Bitcoin falls into that range, it could actually be an opportunityâbecause regulatory inaction is precisely a sign that the market hasnât been overheated by speculation.
If the U.S. Senate goes back on its word again and suddenly changes course to impose strict regulations on DOGE, this thesis is invalid.
This article was not sponsored by any project, and the author does not hold any of the assets mentioned above.
$BTC $ETH #BTC #ETH
â ď¸ This is not investment advice. Predictions are for reference only.
#EthereumSpotETFRecords$161MNetOutflows