The market has dropped a lot since the FPGA hype started. Right now those that bought at $3350 USD are looking at making around $16-$17 per day, meaning a 200-day ROI; less if you use immersion cooling which drops the ROI down to 170-ish days. However I still believe the bitcoin ETF will create a huge upswing in the fall.
Exactly. When an ETF backed by a solid "old school" finance firm with a long track record that the US Securities and Exchange Commission (SEC) trusts comes to play with the full solution, which includes insurance and custody, there will be a nice swing. Chicago Board Options Exchange (CBOE) plus VanEck plus SolidX has the best chance of approval of any ETF application submitted so far, especially given the changes in the regulatory environment for crypto-currencies.
Additionally, when you get a company like Northern Trust interested and talking with hedge funds about crypto currencies, then you know that there is a market shift/transition in the works. Northern Trust doesn't like risk, and they don't deal with tiny two-bit hedge funds.