tl;dr
Gabor Gurbacs, an advisor at VanEck, comments on the evolving narrative of the blockchain industry in 2024, noting significant changes resulting from recent developments in the crypto space. He believes that people underestimate the potential of the crypto industry and investments, highlighting the ...
Gabor Gurbacs, an advisor at VanEck, comments on the evolving narrative of the blockchain industry in 2024, noting significant changes resulting from recent developments in the crypto space. He believes that people underestimate the potential of the crypto industry and investments, highlighting the recent approval of 11 spot Bitcoin ETF applications by the US Securities and Exchange Commission. Gurbacs also argues against those who challenged recent statements by BlackRock CEO Larry Fink regarding tokenization, emphasizing that people don't understand how broken capital markets are. He believes that efforts today are differentiated from old stories about the capability of the blockchain and that modern capital markets should be rethought and remade. Gabor Gurbacs, an advisor at VanEck, commented the evolving narrative of the blockchain industry in 2024, noting significant changes resulting from recent developments in the crypto space. “I believe efforts today are meaningfully differentiated from old “blockchain this blockchain that” stories,” he noted.
On X (formerly Twitter), Gabor Gurbacs argues that individuals commonly underestimate the crypto industry’s potential and investments, drawing parallels to past misguided doubts. Introduced in 1993, the first exchange-traded fund (ETF), SPY, made history as the inaugural ETF listed on a national stock exchange. Today, it remains one of the world’s most actively traded ETFs. However, he argues this is what it is starting to look like for the crypto industry going forward, especially with the recent approval of 11 spot Bitcoin ETF applications by the US Securities and Exchange Commission. “Serious efforts and capital are starting to flow in this space. It’s less so about blockchains than rethinking and remaking capital markets,” he states. He indicates that the news coverage has evolved from simply pointing to stories about the capability of the blockchain. Gurbacs further argues against those who challenged recent statements by BlackRock CEO Larry Fink regarding tokenization. The tokenisation of assets is the digital representation of physical assets on the blockchain. This follows BeInCrypto’s recent reporting that Fink’s vision extends to the idea that ETFs will eventually transform every asset class. Furthermore, the ultimate step being the tokenization of assets. Yet, Gurbacs argues that recent contentment with capital markets may be disrupted by the evolution of spot Bitcoin ETFs and the potential for others in the future. Many in the industry speculate over which narrative will be next in the crypto world, especially with the recent spotlight on AI-focused crypto tokens. “Interest in artificial intelligence (“AI”) has experienced an upswing in the last few months, as evident by Google search trends and soaring AI-related token prices.”
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