If we're talking fiat valuation increase and going forward, I'd say the Microstrategy products. They'll be way more important than the ETFs.

On the other hand, if we're talking adoption, I'd say the v4v ecosystem. It's but a small flame right now, but has been resiliant and determined to succeed, adapting to work with and around regulatory hurdles. People have been switching from one wallet to another over the past year as things change. We've got better solutions now like AlbyHub and LNbits for the self sovereign and decent providers like coinos filling a void. Cashu has started taking off and being considered for additional localized token management. Nostrich Bitcoiners arent giving up and are growing the system