Traffic through the Strait of Hormuz is returning to normal, oil prices have fallen significantly, and are back at pre-crisis levels. As a result, inflation concerns are taking a back seat for now—and investors are once again focusing more heavily on artificial intelligence. Sentiment on the stock markets is correspondingly robust, while the crypto market has seemed comparatively lackluster since October.
Some of the recent ETF outflows should therefore be viewed less as a fundamental shift away from $BTC (+0,16%) but rather a reallocation: capital is flowing into semiconductor stocks, AI beneficiaries, and major IPOs. For the Federal Reserve, the key question remains whether AI is already delivering real productivity gains—or whether the markets are primarily anticipating future effects.
Crypto currently seems unspectacular. The key point is this: the asset class hasn’t disappeared; it’s searching for a new, more use-case-driven narrative. Beneath the surface, tokenization is gaining momentum—with equity and commodity perpetuals, pre-IPO shares, prediction markets, and, in the future, tokenized portfolios.
