#加密货币ETF Seeing the Vanguard executive comparing Bitcoin and Labudu, I have to say that the traditional financial mindset is still using old logic to judge new things. They focus on cash flow and compound interest features, which were correct in the stock and bond era, but for assets like Bitcoin, the value logic is completely different.

Interestingly, although Vanguard publicly questions, they have already opened trading permissions for Bitcoin and Ethereum ETFs. This is the reality—traditional giants are adapting to change through action, even if their public statements still maintain traditional positions. The launch of spot Bitcoin ETFs in 2024 indeed opens a door, allowing institutional investors and ordinary people to participate more conveniently.

I do understand their caution. Financial institutions manage huge assets and cannot act recklessly. But this also highlights a phenomenon: the cognitive gap regarding crypto assets is narrowing. Not everyone needs to go all-in immediately, but understanding this track, grasping its mechanisms and logic, has become part of financial literacy.

The value of Web3 is not in short-term price fluctuations, but in the decentralized direction it represents. This road has just begun, and more innovations and applications are still on the way.