More important than net inflow of funds is confidence The weekend morning reading disc owner @ thecryptoskanda wrote a powerful article titled 'What Happened in Bali', which taught him a valuable perspective. The new Alpha narrative has quietly transformed into 'making institutions believe and participate'. To put it bluntly, the mainstream battlefield in the cryptocurrency industry has quietly shifted from retail investors to institutions. Whoever can build the confidence of old money will take the lead. Let's dive in! ⬇️ The narrative is extravagant and can ultimately be abstracted as buying and selling. Compared to the actual flow of funds, the financial sector is more important in building confidence, that is, expectations. The more trust institutions have, the higher the possibility of capital inflows, which can indirectly boost overall expectations. Therefore, this is the driving force behind many agreements and public chains' desperate efforts to "please" institutions. What's going on? Compliance and infrastructure. Compliance is about paving the way in terms of policies, while infrastructure is about paving the way in terms of operations, cleaning the house, and putting on makeup in order to receive customers (not necessarily). So I have been following up on this recently, and Aptos and Sui are clearly accelerating this strategy. However, a "little transparency" has also started to frequently appear in the field of vision in recent days - @ SeiNetwork. 21Shares and Canary Capital are advancing the Sei ETF project, submitting passive and pledged ETFs respectively. The Chicago Board Options Exchange has submitted a 19b-4 application for the Canary Staked SEI ETF, and 21SHARES has submitted an SEI ETF application to the SEC. They will choose Coinbase as the custodian and also have a staking option, but it is still under review. Do you believe it's a coincidence that so many institutions have suddenly submitted Sei ETFs? Anyway, I don't believe it. Recently, Sei has frequently exposed various infrastructure data combined with ETF applications, perfectly meeting the prediction of a perfect beginning - allowing institutional investors to build confidence. So, like Solana, XRP, and DOGE, Sei will rebuild its ecosystem with the expectation of compliance agencies, and the coin price is a byproduct. In short, ETF=compliance+operability+potential huge liquidity. There is nothing new under the sun, and the opportunity for the bright future depends on whether Sei can seize the opportunity given by the times. / Author: Anymose | A Soft Core Science Popularization Writer This article is for educational purposes only and does not constitute any investment advice. Always remember DYOR!