Welcome back to The Breakdown with me, NLW.

It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.

What's going on, guys? It is Tuesday, July 22nd, and today we are talking about the launch of the Ether

ETFs. Before we get into that, however, if you are enjoying the breakdown, please go subscribe to it,

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All right, friends, today was another big moment in crypto history. The spot Ethereum ETFs went

live this morning. Trading commenced across nine products, all battling it out for a place in the market.

The main take across industry professionals is that the launch of ETFs is cementing crypto as

an asset class. Crackenhead of strategy, Thomas Perfumo is that the launch of ETFs is cementing crypto as an

asset class.

Crackenhead of strategy, Thomas Perfumo said,

I think these ETF products significantly validate the legitimacy of crypto as an asset class.

The same people who called crypto rat poison five years ago are now the people who are creating

products around it.

There is real demand behind this.

You can't ignore it anymore.

Matt Hogan, the chief investment

officer at Bitwise, commented, we've now fully entered the ETF era of crypto. Investors can now

access more than 70% of the liquid crypto asset market through low-cost ETPs. Traditional

asset management can no longer ignore crypto as an asset class. I think you're going to

...