The crypto assets market is undergoing an unprecedented transformation. Currently, there are 36 different crypto assets involved in a total of 155 spot ETF applications, a phenomenon that has attracted widespread follow from both inside and outside the industry.

These applications hide complex market dynamics. On one hand, it reflects the trend of Crypto Assets moving closer to traditional financial markets; on the other hand, it also exposes some project parties' strategies to enhance market follow.

It is worth noting that among the many applying institutions, there are some with smaller asset sizes and lower recognition. Industry insiders speculate that certain encryption project parties may be paying these institutions to submit applications in order to convey a positive signal to the market, indicating that the projects are still actively developing.

However, ETF applications should not be seen as the sole criterion for evaluating the strength of a project. Some crypto assets that did not participate in ETF applications may do so for strategic reasons or other considerations. Investors should comprehensively consider various factors such as technical strength, application scenarios, and team background when evaluating a crypto project.

This wave of ETF applications can also be seen as a marketing strategy for the Crypto Assets market. Through a relatively low-cost approach, project parties attempt to demonstrate their presence and development potential to the traditional financial market. Although this practice cannot be directly equated with the project's true value, it does provide investors with a new perspective on observing market trends.

Overall, the wave of applications for Crypto Assets ETFs reflects that this emerging market is seeking broader recognition and integration into the larger financial ecosystem. However, while investors follow these superficial phenomena, they should delve deeper into the substantive content of each project to make more informed investment decisions.