Except for the portion of assets that still heavily depends on Chinese-speaking retail investor funds, the era of retail investors may really be ending.
I don’t really like this kind of change, but I have to admit that almost all long-term assets that can truly weather cycles are being irreversibly institutionalized.
From stocks, to gold, to BTC and ETH, and then to stablecoins, RWA…
Capital, liquidity, pricing power are increasingly concentrating in the hands of institutions.
The asset performance shown in this chart precisely proves that some eras have already ended—not because they were wrong, but simply because the market has changed.
In the past stretch of time, you could only say “the advantage of top-tier assets,” and you didn’t dare to say that the retail era is over.
Now it really feels like it has ended…
$UNI $LINK #uni #link
I don’t really like this kind of change, but I have to admit that almost all long-term assets that can truly weather cycles are being irreversibly institutionalized.
From stocks, to gold, to BTC and ETH, and then to stablecoins, RWA…
Capital, liquidity, pricing power are increasingly concentrating in the hands of institutions.
The asset performance shown in this chart precisely proves that some eras have already ended—not because they were wrong, but simply because the market has changed.
In the past stretch of time, you could only say “the advantage of top-tier assets,” and you didn’t dare to say that the retail era is over.
Now it really feels like it has ended…
$UNI $LINK #uni #link
