Caitlin Cook: Most people greatly underestimate the long-term impact of the approval of crypto ETFs

Caitlin Cook, the marketing Director of Hxro Network, a decentralized derivatives trading platform based on Solana, stated on social media that even if bullish, most people greatly underestimate the long-term impact of cryptocurrency ETF approval. In 2022, the Registered Investment Advisor industry (excluding assets managed by large brokerage firms or hybrid BD/RIA companies nationwide) grew by 2.1%, with 15,114 fiduciary investment advisors managing $114.1 trillion in assets for 61.9 million clients. Imagine if only a small portion of these assets entered spot crypto ETFs: a product suitable for their current framework (this won't happen all at once), but it's undeniable that it would bring huge new opportunities for assets and participants. From the current reality perspective, whether you like/agree or not, most people in the world hope to allocate cryptocurrencies very moderately to capture its potential upside while keeping it as a small part of their overall investments and riskiest part of their portfolio. Caitlin Cook added that Crypto ETFs will have extraordinary significance; this is not just because of dollar inflows - mature and vibrant markets have various participants who participate in different ways; this is just a beginning. Over time preferences within dollar management change which has shown an increasing preference and allocation towards ETFs over active strategies which usually come with more fees and additional conditions (these can be upfront or ongoing depending on products). Why? Generally speaking advisors do not trade intraday; they park someone's asset for decades hoping to use most funds on low-cost products allowing clients access to broad range assets helping them achieve financial goals.The institutions I mentioned above do not include institutional fund managers such as endowment funds,pensions,charities,family offices etc.