Back in late March, when prevailing consensus was that the SEC would not approve an ethereum ETF and when its price had dramatically diverged from that of bitcoin, we took the other side.
Why was that? For several reasons: first of all, recall that in recent years, Wall Street had traditionally held ethereum, due to its smart contract nature, flexible architecture and tokenization capabilities , in much higher regard than the relatively boring bitcoin, whose only role was to be "digital gold". None other than Goldman Sachs said, three years ago when it initiated coverage on the crypto sector, wrote that bitcoin is a good asset, and "ironically" will be used as the "scarce resource" to make PoS systems work "instead of natural resources", but while bitcoin may end up being a one-trick pony (if quite valuable) it is the new blockchain platforms - like Ethereum - that will serve as the basis for a "large market of trusted information", as Goldman puts it "like Amazon is for consumer goods today" (Pro subscribers can find the full Goldman report can be found in the usual place).
