Imagine a certain crypto asset, let's call it ABC, gets approved for the first spot ETF in the U.S. This means a few things: 1/ ABC can now be used for OTC trades with traditional funds to exchange for large amounts of cash. 2/ ABC can easily be listed on stock trading platforms, including but not limited to Robinhood. 3/ ABC can be considered hard currency and used as collateral in traditional financial institutions like banks. 4/ Investment banks can use ABC to create and issue derivatives, inflating the bubble around related assets. 5/ The founder of ABC will start being more cautious with their words, but on the flip side, the entire ABC ecosystem will benefit due to the "compliance" effect—when one succeeds, everyone rises. 6/ The founder of ABC can start applying to become a crypto advisor to the White House or a member of the White House Crypto Committee. 7/ Sovereign wealth funds will be able to start allocating ABC. Since this is the first approval, ABC is bound to enter a new cycle.