I'm not excited about the #Bitcoin ETF for it's own sake. In fact, I find it rather boring and antithetical to Bitcoin. However, I have considered that the replacement of fiat in a sly, roundabout way will likely require that traditional financial instruments embrace Bitcoin.

Sure, some people will get rugged, but that's exactly what will push more people toward self-custody, second layers, etc. Exposing more people to Bitcoin through ETFs will likely be a net positive in the end. I'm all for that.