#ETF与衍生品 Looking at Cathie Wood's recent views, I’ve summarized a key point: the institutional layout for BTC, ETH, and SOL essentially follows the traditional financial entry roadmap.

First and foremost — institutions are officially entering through ETFs. What does this mean? It indicates that liquidity will continue to strengthen, and volatility will become more regular. During the flash crash on 10/11, BTC showed the strongest resilience, while other coins experienced deeper declines. This phenomenon is worth noting.

For us retail investors, this is a signal:
- BTC’s role as a global currency determines it as the preferred safe haven for institutions, with the best liquidity
- ETH’s infrastructure layer role means that opportunities for airdrops of derivatives and ecological applications will increase
- SOL’s focus on consumer applications makes it the easiest track for new projects and interactive opportunities to emerge

Simply put, the market may have already bottomed out. Next, it depends on the ETF decisions of traditional financial giants (like Morgan Stanley, Bank of America). Seize this window, focus on new project interactions across these three chains, which have the lowest costs and the most stable return expectations. New project teams will accelerate their launches to compete for traffic, and our opportunity is right here.