As I think about the impact of the coming #BitcoinETFs here are some numbers.

1) #Gold ETF penetration

2) #Bitcoin EXISTING supply (#HODL and On Exchange Balances)

3) #Bitcoin NEW supply (which halves in April '24)

Interesting to contemplate what may happen if/when approved.

The last time an existing 'asset class' became ETF eligible (November 2004) the price of #Gold AND assets under management within those ETFs both went up...A LOT.

Could #Bitcoin experience something similar as an entirely new investor class can now allocate to it easily?