The drama of ETH's attitude reversal is being staged again.

The world's second-largest asset management company—the once-skeptical Vanguard Group towards cryptocurrencies—will officially announce its entry into the Bitcoin ETF space tomorrow. Do you remember last year's bold statement by their CEO that they would "never get involved in crypto assets"? This sudden 180-degree turn comes as a surprise.

It's interesting to note. There is an unwritten rule in the financial circle: the harsher the public criticism, the earlier the private positioning may be. Is it that they dare to enter the market loudly only after completing their accumulation in advance? Or are they finally unable to suppress their FOMO emotions, watching BlackRock's Bitcoin ETF explode into the spotlight? The underlying motivations behind this dramatic shift are worth pondering.

However, aside from the gossip, the signal significance of this matter itself is even heavier. When the second-tier giants of traditional finance begin to actively embrace Bitcoin ETFs, it means that institutional capital's attitude towards the crypto market has shifted from observation to substantial allocation. This is not an individual adventure by some radical faction, but rather Wall Street as a whole is re-evaluating the risk-return profile of digital assets.

Liquidity expectations are one aspect, but more crucial is the demonstration effect brought about by this transformation — when conservatives start to break their defenses, how many onlookers will follow?

What do you think about this sudden turn? Is it another validation of the "true fragrance" law, or is there something else going on? BTC ETH BNB