BitOoda

Financializing the Global Compute Market through an Institutional Fintech Platform

[Etherealize @Etherealize_io]

Etherealize launched just 24 hours ago

The response from the ETH and TradFi ecosystems has been nothing short of incredible

Players from the Ethereum app layer, the infra layers, the L2s, and from all parts of Wall St reached out — and want to help

It’s truly inspiring

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[Etherealize @Etherealize_io]

INTRODUCING ETHEREALIZE

An institutional marketing and product arm for the @ethereum ecosystem

Our goal? To accelerate adoption by bringing institutions to Ethereum: the digital economy of tomorrow

All roads flow through ETH. We’ll show the world why

Here’s our plan:

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[Vivek Raman @VivekVentures]

ETHEREUM’S RECENT WINS:

- Trump bought $47mm ETH and a basket of tokens mostly issued on ETH

(Trump’s WBTC settles on Ethereum — the future utility layer for the Bitcoin network)

- Trump staked his ETH with Lido

- The EF allocated 50k ETH for use DeFi

- Coinbase’s new BTC borrow product uses an Ethereum app, an ETH L2, and an ERC-20 as the back end

(Coinbase’s cbBTC settles on Ethereum — the future utility layer for the Bitcoin network)

***Ethereum is proving to be the digital economy for institutional finance…

where (staked) ETH is used as the predominant store of value***

All roads flow through ETH.

[Vivek Raman @VivekVentures]

2024 was the year everything changed for Ethereum

ETH achieved regulatory acceptance, scaling, and a spark of institutional adoption

The war against ETH is now over…

…meaning it’s time for ETH to go to war

5 catalysts for why ETH will win in 2025:

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[Vivek Raman @VivekVentures]

Saylor is pivoting from a zero sum Bitcoin-maxi future to a positive sum future where we see an Ethereum Renaissance

This opens the door for a corporate ETH treasury playbook to complement MSTR’s BTC strategy

The spotlight will shift to ETH in 2025 🚀

https://t.co/8Hdzr0ay0G

[Vivek Raman @VivekVentures]

2024 was indeed the perfect storm of fundamental catalysts for Ethereum

Rumors of ETH’s death were greatly exaggerated. In fact, the only recurring complaint was that ETH price was “only” up ~50%

Zooming out, let’s reflect on 5 unbelievable developments for ETH in 2024:

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[Vivek Raman @VivekVentures]

Coinbase is one of the biggest drivers for the crypto renaissance

And Base is largely possible (from a regulatory perspective) because it is built as an Ethereum L2

Ethereum is the most secure, open, reliable blockchain economy

(Though many are incentivized against saying it)

[Vivek Raman @VivekVentures]

One of the bigger Ethereum catalysts for 2025:

**Staked ETH ETFs will come quickly, before any new crypto ETFs are approved**

This makes it ~6x more profitable for asset managers to focus their growth on ETH ETFs than BTC ETFs!

Here’s the math:

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https://t.co/GQAW7HX0VR

[Vivek Raman @VivekVentures]

Ethereum institutional adoption update:

1. Deutsche Bank is launching an L2 to compliantly switch on public blockchain connectivity (via @zksync)

2. Hashkey is launching an L2 on ETH (via @Optimism)

L2s are the optimal way to scale Ethereum.

https://t.co/V3eL3RBq79

[Vivek Raman @VivekVentures]

Appreciate the debate, and your points are interesting. My thoughts:

> What will the US use ETH for? Staking? Why would they stake if they already print money for free?

Yes as a store of value (alongside btc) and for staking - it’s a whole new uncorrelated source of yield. See below.

> ETH is definitely going to lose to BTC and gold in the monetary competition, so it’s not helpful for the currency.

That’s the assumption you’re basing this argument on. It’s a bold assumption for an asset that’s 15 years old vs its competitor that’s 9 years old. I’d think it’s a bit early to be declaring victor. Hence the diversification.

> What is the purpose? You use the word "strategic" -- why is ETH strategic?

BTC is gold. It crossed the chasm. Happy about that.
There’s a whole global digital economy that runs on ETH. It’s the home of $110bn in stablecoins, real world assets, and trillions in trading. Ethereum is distribution rails for the dollar. It’s the basis for a new potential bond market. It’s a new internet with money baked into it. How is that not strategic for the US to have a stake in it?

> All crypto is not the same. It's not about "diversification". Bitcoin is the only crypto that can be money. The market has made this abundantly clear.

This is where we’ll disagree and it’s why two-sided markets exist - you think BTC is the only crypto that can be money. My bet is ETH will be considered money soon too. See my thread below. Ultimately, I haven’t pointed out btc’s flaws, but since I now have to broach that - BTC is very centralized via mining (which is centralizing even more in the arms race for power); mining can be as “controlled by the US” as you say ETH can, and BTC has only “won” (on price, not economic activity) because one company has been buying it via a capital markets loophole like a drunken sailor.

Point is - both assets have strengths, but BTC has weaknesses just like ETH does. The US isn’t supposed to pick winners. Diversification in a crypto strategic reserve for a nascent new industry seems prudent to me.

[Vivek Raman @VivekVentures]

**A US STRATEGIC CRYPTO RESERVE WILL LIKELY INCLUDE ETHEREUM**

There is mounting evidence that a national strategic crypto reserve will include ETH in addition to BTC as its core holdings

Here’s why:

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[Vivek Raman @VivekVentures]

***WHAT IS ETH?***

Here’s an explainer for the institutional crowd:

We know what a US treasury is: the de-facto store of value in the US economy.

Now imagine a US treasury bond - but it captures upside from the US economy doing well.

That’s ETH.

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[Vivek Raman @VivekVentures]

Some constructive stats about the ETH ETFs over the past 8 days:

- Over $1.05bn inflows into the Blackrock ETH ETF (as Nate mentioned, top 4 ETF launch for 2024)

- Over $610mm inflows into the Fidelity ETH ETF, with yesterday being $202mm (largest one day ever for FETH)

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[Vivek Raman @VivekVentures]

Ethereum is the most secure, most liquid, and most reliable platform for tokenization

Any large-scale institutional tokenization effort will take place on Ethereum — and the US Treasury is recognizing the benefits of tokenizing assets

[Vivek Raman @VivekVentures]

Add $295mm to the ETH ETF tally…

Nearly $1bn in new inflows since Thanksgiving 🚀

[Vivek Raman @VivekVentures]

Prediction: there are 2 possible outcomes for new crypto ETFs in 2025 —

Outcome (1): we see a wave of indiscriminate approvals, where we either get 10+ new crypto ETFs…

(This would include XRP, DOGE, LTC, ADA, SOL, AVAX, DOT, LINK, etc)

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https://t.co/JAlqxSLTyZ

[Vivek Raman @VivekVentures]

The ETH ETFs saw ~$549mm in net inflows over the past 7 days

Of which $333mm was on 11/29

This compares to a 7-day net inflow of ~$1.36bn for the BTC ETFs ($320mm on 11/29)

7 day net ETH issuance: 9,695 ETH ~= $34mm

7 day BTC issuance: 450 BTC * 7 = 3,150 BTC ~= $302mm

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[Vivek Raman @VivekVentures]

**ETH should be a core part of a US Digital Asset Strategic Reserve**

The Ethereum network has become systemically important global technology

ETH = blockchain technology adoption and growth

4 reasons why ETH needs to be a US Strategic Reserve asset (alongside BTC):

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[BitOoda @BitOodaCompute]

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[Vivek Raman @VivekVentures]

Bitcoin was the start of the crypto movement - but it doesn’t represent crypto’s full potential

BTC is analogous to gold - a pristine store of value meant to be tucked away and held

The true innovation that came after gold was finance and capital markets - debt, equity, fiat, forex, rates, and all permutations of derivatives

How can crypto improve TradFi? Not just with DeFi - DeFi cuts out too many players rather than making them more efficient

Crypto makes finance **programmable**

Programmable finance is our real innovation.

Nobody will disagree that the financial system needs an upgrade. Nobody will disagree that machines - AI agents, apps, devices - should have access to money

And money needs to be digital and programmable to be upgraded for the modern technological renaissance that is unfolding

Crypto facilitates this. But not all crypto! The underlying money, the underlying reserve asset of this new digital programmable economy - needs to be secure, neutral, and controlled by nobody

Programmable money needs to be as universal, secure, and ubiquitous as the Internet: accessible to all, but owned by no central entities

And this is why Ethereum will ultimately win.

Ethereum is the only platform for programmable finance with regulatory clarity, maximal security / decentralization, no downtime, and a scaling plan that promotes innovation while ensuring neutrality

ETH is the neutral reserve asset for a world where we have programmable finance. Moreover, it’s an excellent store of value!

#ETH has:
- Programmatic issuance that has been lower than BTC for years
- A fee burn mechanism that creates scarcity
- Swiss Army knife scaling solutions (L2s) that foster cutting edge innovation while maintaining uptime and reliability (L1) to secure the ETH economy
- A staking yield - which is uncorrelated to TradFi yields - which will be the bedrock of programmable finance

Bitcoin was the beginning - and it will do very well due to its simplicity

But the endgame for crypto is a world where money and finance are programmable, neutral, and accessible to all

We will build this world on #Ethereum.