For crypto to pump, we needed fiat inflows into the ecosystem.

For years, this role was filled by stablecoins.

Now, ETFs and TradFi crypto treasury companies pump crypto without directly entering the crypto system.

It's great for institutional investors who are bullish crypto but don't want to deal with onchain stuff and legal issues.

It's the Great Tradfi x Crypto Merge.

Interestingly, when money enters crypto ecosystem, these new holders used to chase yield in DeFi.

But ETFs and Treasury Companies take that crypto out of circulation (but not permanently).

I wonder if it could pump not just our bags but also onchain yields?

A counter argument is SharpLink planning to stake, restake ETH into crypto, and Blackrock about to get ETH staking ETF.

Anyway, thinking out loud here. The crypto reserve companies is yet another leverage method to pump our bags.

In the past, we had internal crypto games and CeFi. Now, we got TradFi alongside us.

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