ETF

Dependent-Salt-5017

The remaining BTC ETF holdings will plague us

BuyBitcoinOTC

Austrian economics, pioneered by thinkers like Ludwig von Mises, Friedrich Hayek, and Murray Rothbard, emphasizes sound money, free markets, and the dangers of central planning. It critiques fiat currencies as tools of government manipulation, prone to inflation that destroys savers. Bitcoin embodies these principles like no other asset in history; it's decentralized, scarce, and resistant to arbitrary debasement, each qualities that build the ultimate hedge against the inflation. In this post, we'll discuss why owning bitcoin isn't optional for long-term security for both retail users and institutions. At the heart of Austrian economics is the concept of sound money which is a medium of exchange that holds value over time, free from central authority's intervention. Central banks like the Federal Reserve can print fiat currencies at will, leading to inflation that erodes purchasing power of the currency itself against all other goods. Mises warned of this in his 1912 work The Theory of Money and Credit, where he argued that inflation distorts economic signals and fuels economic cycles. From an Austrian lens, this bitcoin's scarcity protects against the "cantillon effect," where newly printed money benefits elites first like banks and large institutions before trickling down and inflating prices for everyone else. And consider the a longer term view; since bitcoin's inception in 2009 its price has appreciated over 100,000% against the US dollar, outpacing all other asset classes including stocks, real estate, and gold. Again, consider that it's not about price but about preserving value. In countries like Argentina or Venezuela, where hyperinflation ravages fiat, bitcoin has become a lifeline. Even in stable economies persistent annual inflation compounds over decades, halving your money's value every ~25 years. Furhter consider bitcoin's deflationary nature counters this, rewarding savers instead of spenders, aligning with Hayek's advocacy for competing currencies in Denationalisation of Money. And for retail users this means financial sovereignty, because you're no longer at the mercy of institutions that can freeze accounts or governments that can impose capital controls. Institutions too are recognizing Bitcoin as a non-correlated asset BlackRock's Bitcoin ETF inflows in 2024-2025 underscore this. Bitcoin is no longer speculation and is now a hedge against systemic risk.

BuyBitcoinOTC

Ignoring Bitcoin isn't just a missed opportunity, it's actually a significant blunder that could erode your security in an era of unchecked monetary expansion. Austrian economics, pioneered by thinkers like Ludwig von Mises, Friedrich Hayek, and Murray Rothbard, emphasizes sound money, free markets, and the dangers of central planning. It critiques fiat currencies as tools of government manipulation, prone to inflation that destroys savers. Bitcoin embodies these principles like no other asset in history; it's decentralized, scarce, and resistant to arbitrary debasement, each qualities that build the ultimate hedge against the inflation. In this post, we'll discuss why owning bitcoin isn't optional for long-term security for both retail users and institutions. At the heart of Austrian economics is the concept of sound money which is a medium of exchange that holds value over time, free from central authority's intervention. Central banks like the Federal Reserve can print fiat currencies at will, leading to inflation that erodes purchasing power of the currency itself against all other goods. Mises warned of this in his 1912 work The Theory of Money and Credit, where he argued that inflation distorts economic signals and fuels economic cycles. From an Austrian lens, this bitcoin's scarcity protects against the "cantillon effect," where newly printed money benefits elites first like banks and large institutions before trickling down and inflating prices for everyone else. And consider the a longer term view; since bitcoin's inception in 2009 its price has appreciated over 100,000% against the US dollar, outpacing all other asset classes including stocks, real estate, and gold. Again, consider that it's not about price but about preserving value. In countries like Argentina or Venezuela, where hyperinflation ravages fiat, bitcoin has become a lifeline. Even in stable economies persistent annual inflation compounds over decades, halving your money's value every ~25 years. Furhter consider bitcoin's deflationary nature counters this, rewarding savers instead of spenders, aligning with Hayek's advocacy for competing currencies in Denationalisation of Money. And for retail users this means financial sovereignty, because you're no longer at the mercy of institutions that can freeze accounts or governments that can impose capital controls. Institutions too are recognizing Bitcoin as a non-correlated asset BlackRock's Bitcoin ETF inflows in 2024-2025 underscore this. Bitcoin is no longer speculation and is now a hedge against systemic risk.

GrumpyScroogy

Brother it is all so obvious, you guys just have shit for brains. Altcoins are dead and since bitcoin ETF its boring uncle asset that will see lower cycle bottom but also wont do as well as before. Next round we maybe see 155/160k if lucky and after that it either implodes from quantum computing or survives and rides a boring 10% a year like other ETF's. You all got greedy at 120k+ for what? 30% more upside with 100% downside? Sounds beyond dumb tbh. Been here \~10 years and when Trump embraced crypto it was obvious where we were going. Clarity act will get sandbagged, simple as that. Saylor is a huge system risk along with political unrest. The easy money is long gone.

BeachedinToronto

I bought in Oct. 21 My signal was that the Canadian ETF's were in, here comes the upside....! Just don't sell and remember to buy on the way up.

ed45626

ETF's carry higher transaction costs, and when you short an ETF they don't sell the bitcoin -- they borrow shares from the broker and sell them, owing the shares back to the broker. The number of bitcoin is still held by the ETF until they buy back and remove the shares from circulation. If a large number of traders shorts an ETF it will depress the price of the ETF, but this is balanced by other traders purchasing the ETF, since they can essentially purchase BTC at a discount (book value doesn't change). This is the system that keeps the price of the ETF in line with the value of the underlying instrument. Bottom line, ETF selling does not directly impact BTC price, it may reflect a lack of trust in BTC but not the price just as selling perpetual futures doesn't affect the price of the spot commodity.

coinfeeds-bot

tldr; Bitcoin prices fluctuated near $92,000 on January 19, following concerns over potential U.S.-EU trade tensions. The cryptocurrency experienced volatility, dropping below $93,000 and recovering slightly before declining again. Analysts attributed the fluctuations to fears of new tariffs announced by President Trump, low liquidity, and leveraged trading. Additional factors included large holders moving coins to exchanges and ETF outflows. The market's reaction reflects broader macroeconomic uncertainty and geopolitical tensions. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

alexseiji

Manipulated, no. Bought and held, yes. Especially consider what caused the markets to tumble yesterday and considering that we are moving in a direction that favors gold being reused used as the basis for currency. If you look at chinas gold buying, Poland, turkey, etc every major bank in the world now sees the utility to accumulate as much as possible. Whichever bank has the most gold reserves in the future will be the strongest bank for a financial utility standpoint. Another thing, gold ETF have been fine until now to expose your portfolio to gold, but since the gold scarcity is now becoming very real and they are unable to accumulate the gold needed to meet the etf reserve requirement…. Welp… bye.

Romanizer

As long as the (irrational) belief stands that precious metals are a safe haven, you would mitigate by putting the bars in your vault. However, only a few traders seem to do that. Most physical delivery still is to central banks, which was driving the price together with ETF demand.

randomFrenchDeadbeat

To be fair the livret A is going to be 1.5% soon and is limited to about 20K€, but it is tax free. There are other savings accounts that work in a similar way, some have income limitations. The regular bank account does not give any interest. I believe our savings accounts are similar to the US HYSA. But the money you have in a bank, up to 65K€, is backed up by the country should the bank fail. So just open as many bank accounts as you need in different banks. Thats basically free. And you get a debit card for free (we call them credit card but they are debit card). Also I think Europe banned the fees on card use, so using them is free too. >Re: MSCI - sure, but you likely have a level of financial sophistication that the majority don't. ETFs are financial products created for people who dont have a high level of financial sophistication. Honestly, it is easier to get that than to make an onchain crypto wallet, and it trades absolutely the same way you'd trade on any CEX. Get a broker, use its search engine to find an MSCI based ETF, buy shares, hold, do nothing. To sum up, MSCI is basically like taking the 1500 most performing companies in the world and making them into one number. The US has the sp500 working similarly but for US companies, France has cac40 and so on. >The point is that yields should be baked into every deposit by default Well ... there is an economical problem with that. It basically creates inflation. If everyone gets 3% without producing any kind of work, that means the value of the money, wether that is fiat or token, loses 3%.

Nick700

If you're planning to just leave it on exchange might as well buy the ETF as the chances of Fidelity or the like going under is much less than a crypto exchange

Fear_Blind83

It's a fucking ETF 🤦‍♂️ Customers buy = BlackRock buys Customers sell = BlackRock sells It's not rocket science.

derbyfan1

I dont often use Saylor as a reference as I think he's too bullish. but I agree when he said; Its either going to zero or a million. Ovb from a milli it goes higher, but in essence I agree with him. And now with ETF's and the big players holding it, the chances of it going to zero are extremely remote. Finally, before anyone suggests quantum computing - That would also kill fiat / online banking...

DubaiEnthusiast

> Strategy will probably roll out Bitcoin-backed securities/products. They already have a handful of Bitcoin-backed securities. Their preferred stocks are 'backed' by their massive Bitcoin stockpile. > ultimately, I think it will simply function as an ultra high fee ETF. It's the exact opposite. The common stock functions as a 'no-fee leveraged Bitcoin ETF'.

TexasBoyz-713

I’m willing to assume a large majority of ETF money is retail

islanda_1973

ETF are the only thing that kept btc alive with 0 retail interest without etf crypto would be dead

coinfeeds-bot

tldr; BlackRock, the world's largest asset manager, has acquired nearly $6 billion in cryptocurrencies since the start of 2026, with total crypto holdings reaching $81.4 billion as of January 20. Bitcoin constitutes 87% of the portfolio, while Ethereum makes up 13%, alongside minor stakes in other cryptocurrencies. Recent purchases include 195 BTC and 4,534 ETH. Although inflows are increasing, the pace of accumulation has slowed compared to the same period in 2025. The accumulation aligns with positive trends in the broader ETF market. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

KryptoSC

He just bought the next 7 weeks of mined Bitcoin to be scheduled. Factor in the ETF inflows and I see the liquid market float getting really thin within a year.

Zigxy

Becoming bitcoin’s “central bank” Strategy will probably roll out Bitcoin-backed securities/products. But ultimately, I think it will simply function as an ultra high fee ETF.

BainTrain55

You can quite litterally feel everyone hovering over the sell button on their ETF’s

Sandiegosurf1

r/Bitcoin has surpassed 1 million weekly visitors multiple times, primarily during the massive bull runs of late 2024 and early 2025. While the subreddit was highly active during the 2017 and 2021 cycles, it didn't consistently maintain a "1 million per week" baseline until the most recent institutional wave. According to internal traffic stats shared by the subreddit moderators in early 2025, the community saw a massive step-change in engagement: Recent Traffic Milestones • Late 2024 (The Breakout): As Bitcoin surpassed its previous all-time highs of $69,000 and pushed toward $100,000, weekly uniques began oscillating between 1 million and 2 million. • December 2024 (The Peak): The subreddit recorded its highest traffic month ever, reaching over 5 million unique visitors in a single month. During the busiest weeks of this month, traffic was estimated to be well over 1.2 to 1.5 million per week. • January 2026 (Current): While engagement has leveled off from the "mania" of 2025, the subreddit currently averages around 700,000 to 800,000 weekly visitors, frequently spiking back above 1 million whenever there is a $10,000+ price move in a single week. Historical Context: Why now? The reason it took until 2024 to hit these numbers consistently, despite having millions of subscribers for years, is due to two factors: 1. Passive vs. Active Users: For many years, a huge portion of the 8 million subscribers were "ghost" accounts or long-term HODLers who didn't visit the sub unless there was a crash or a moonshot. 2. The "ETF Effect": The approval of Spot ETFs in 2024 brought a massive wave of new retail and institutional interest that shifted the subreddit from a "niche community" to a "primary news source" for a much broader demographic. Comparison to other "Million-Visitor" Subreddits To put this in perspective, r/Bitcoin is now in a rare class of subreddits. It shares similar weekly traffic spikes with: • r/WallStreetBets: During the GME/Meme stock era (peaked much higher, but more volatile). • r/WorldNews: During major global conflicts. • r/CryptoCurrency: The generalist sub often mirrors r/Bitcoin’s traffic, though r/Bitcoin typically has higher "stickiness" during Bitcoin-specific rallies.

XapoBank

We are currently stuck in a choppy re-accumulation zone between $87k and $95k, driven primarily by a mix of profit-taking and macro jitters. The biggest culprit is indeed ETF outflows, which flipped negative in the second week of January; we saw a single-day exodus of \~$486 million on Jan 8 alone, capping any momentum we had coming into the new year. This selling pressure created a massive "sell wall" at $95k, where traders are aggressively taking profits every time we touch that level. Add in the brief "risk-off" shock from the Maduro/Venezuela headlines, and you get this exact chop: buyers stepping in at the $87k and $90K value zone, but insufficient volume to break the $95k ceiling until institutional flows turn green again. Basically alot of traders buying and selling at these points to make a few $ Just our 2 sats.

Beneficial-Hope68

Appreciate the perspective, especially the distinction between retirement accounts versus spot ownership. That’s something many beginners overlook. For someone choosing between ETF exposure and holding spot BTC/ETH directly, what tradeoffs do you think matter most in practice? Custody control vs tax efficiency vs flexibility?

Despaciito

Imagine the dump when the ETF panicselling starts later today

OkEmu7082

launching an inverse ETF for you is the solution

Big80sweens

A lot of people have heard of it, most people don’t know what it is. A perfect example is you who above said something like owning gold in an ETF is the same as holding bitcoin, which frankly is the dumbest most ignorant thing I’ve read today. So case in point, people have heard the word “bitcoin” but have no idea what it is. Once even 10% of the world truly knows what it is, it’ll be worth million(s) of USD.

videokillradiostarr

You can store a key in your head. Memorize 12 words and you can walk across any border with billions of dollars worth of Bitcoin. There are systems where you can draw a picture and recreate your private key. You can't store gold in your head. If you hold gold digitally, you are trusting an institution to custody your gold and give you the value when you ask for it. Check out and research executive order 6102 and see how that worked out for people in 1971. Holding a Bitcoin ETF is similar, it's not Bitcoin, it's a bitcoin IOU. Don't do that. Not your keys, not your coins. Bitcoin has no institution, it's just code you can verify yourself. Like the Internet, no one owns or runs it. It is just a protocol. You can run a node and prove you have your own coin and that a certain amount exists. With gold, you needs thousands of dollars worth of equipment and 24/7 security to verify and protect. Bitcoin is trust-less money for the digital future. Precious metals are stone age money for dinosaurs. We are so early still and it's almost 100k again. Watch Andres Antonopolous videos and get your learn on. https://youtu.be/l1si5ZWLgy0?si=BeieJ0m4gBXQeD9Y

tightywhitey

Please let me buy the ETH ETF as a tokenized share of a sharelized token.

pcm2a

Yeah it seems like that would be a disaster. But the Bitcoin ETF is only available during stock hours and the price is pegged to BTC price. Maybe something similar.

ExpressSavings7615

I don’t buy through ETFs, not for this reason, just because I don’t see a major issue with managing self custody. There’s one thing I don’t get about this argument for not buying through ETFs though. In the circumstance where no one would want to buy the ETF from you, wouldn’t it be the same story for the BTC/ETH/SOL/etc.?

Consistent_Panda5891

Yes, a circle going downwards. They banned me from a r/BTC sub like a year ago when BTC was on the top for telling evidence about all institutionals where shorting it, famous ppl leaving, and also institutional launching ETF to get more liquidity to short it. Those dumbass banned me, but I made some good laughs on them

bbqyak

I think futures trading and ETF's fked up the market. But it's always been manipulated. Before you'd have whales who bought Bitcoin for $20 who could just cause a panic sale on a whim.

nachtraum

I held a lot of different coins a few years back and was down even more. During the last bear market I started to regularly buy Bitcoin. In fall 2023, when there was a small surge in alt coins and rumors of a Bitcoin ETF approval became more concrete, I swapped everything I had into Bitcoin. Now I am up significantly.

AutoModerator

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Saylor_Moonboi

Everyone else is wimping out, so I'll take this one. The realistic long term risk is that Bitcoin isn't used for anything in the real world, besides hoarding by our cult, and this is NOT a small risk. Not used as sound money, or even 'gold 2.0', and frankly, the way the banks are currently FOMO-ing into gold 1.0, as Trump keeps tearing down the old world order, its pretty clear that gold has NOT lost its monetary use, to become just another industrial metal, quite yet. I personally think the current Republican embrace of Bitcoin is purely linked to their positive, but twisted, views on bitcoin mining, and not any real desire for a return to hard money, or backing the US dollar with anything, and their HODL will be a LOT shorter than most people here think. I think the way they look at Bitcoin, and mining it, is as sort of a 'Fracking 2.0', like its some kind of digital resource extraction, that the US has some kind of inherent advantage in doing, that we don't have for, say, gold mining, and that Bitcoin mining does acceptable levels of environmental damage, not so much that catastrophic climate damage happens, but enough perceived damage that it pisses off the libs. You can sort of see thi,s in that they describe their HODLing as a 'strategic reserve', which they DON'T describe their gold holdings as, which I think makes it very equivalent in their mind to the strategic reserve of OIL the US already holds. I have a feeling that Trump, or his successor, will 'Elon Doge' the Bitcoin community, by dumping most, or all (!!) of the reserve, to buy dollars off the international markets, if the dollar falters near an election, or inflation surges again, as it likely will, just like they pull market shenanigans with the strategic oil reserve. This lack of government HODLing, or any real money usage, could cause the price of bitcoin in fiat to stabilize, or even gradually fall over the longer term, like what is now happening to almost every altcoin. This doesn't require an end to money printing, only the Fed getting inflation back to 2 %, which I actually think is doable, and they had BETTER do it, or Schiff will be proven right, gold will keep surging, and the country will suffer a lot, and maybe the sheeple will take out their frustration on the Bitcoin community. The positive case is that Bitcoin keeps appreciating faster than the dollar keeps dropping, because of further adoption. This could happen from hedge funds, ETF growth, more third world central banks getting into it, or even the normie sheeple finally FOMOing into it. I think this is reasonably likely, and has been happening for a while now, but it IS hard to predict where the next level of demand will come from, and its definitely not a certainty.

Ok-Amphibian-7369

As others have said, start by understanding the technology. Broken Money and The Bitcoin Standard are good resources. If you’re too lazy to read, Lynn Alden has some excellent YouTube videos. The next step is to (a) decide it’s not for you, or (b) to get off zero. If you just want exposure but don’t want to create a cold/hard wallet, the ETFs are a good entry vehicle. Many here will hate me for that comment. But the reality is, not everyone is comfortable managing a digital wallet, and ETFs do offer exposure in a familiar format. With that said, you cannot transfer a btc ETF into a wallet should you decide to go that route in the future, and if you do decide to trade your ETF for actual btc, you will incur capital gains taxes just like any other investment. Keep that in mind. Personally, I believe the greatest risk in this entire conversation is having zero exposure to the greatest asymmetric investment of our lifetimes. It really is still early. 100X from here is still realistic. Some exposure certainly makes sense. For you, is it 1%? 2%? 10%? 50%? Many on here are 90%+, which I find crazy.

Substantial_Step_351

Don't be too hard on yourself. Most people don't realize that 'knowing when to sell' is actually a much harder skill than 'knowing what to buy.' In 2021, we were all blinded by the 'Supercycle' narrative. In 2024, it was the 'ETF hype.' You didn't fail because you were greedy; you failed because your exit strategy wasn't as automated as your entry. You've proven you can find the right assets twice—that’s a skill 99% of people here don't have. Take a break, reset your mental health, and next time, write your exit price on a physical piece of paper.

harvested

Probably the best cycle for creating bitcoiners. We had: - Massive shitcoin under performance, many rekt - Muted volatility, no brutal bear or blow off tops - Gold signaling to the market that hard money matters - ETF IOUs allow some bitcoin price exposure for normies who don't understand self custody - Deeper options market expansion allowing for hedging etc - 100K milestone many thought would never happen And all that off the back of one of the worst fed balance sheet expansions and contractions in history. I got a feeling we picked up a few new players this past few years. Treasury company pump and dumps were the only negative to come out of this cycle. RIP to the ones that got caught up in that. Overall I think we minted many bitcoin hodlrs.

Worried-Lab-2010

You now have to follow the ETF inflows or outflows charts to Short or go Long on bitcoin. Institutions control the price action. Since you want to invest long-term I would look at some of the lowest buy levels which is in the high 70k & 58k ranges this cycle Be patient and wait. Never FOMO.

Next-Town1842

I have investments in world ETF which I don't plan on selling. Always good to diversify

AutoModerator

Post is by: Money-Background7430 and the url/text [ ](https://goo.gl/GP6ppk)is: /r/XRPUnite/comments/1qgchno/functional_zero_why_xrps_liquid_supply_is/ XRP: The Structural Scarcity Story of 2026 XRP’s liquid supply has collapsed from 3.7B to ~1.6B in 12 months, driven by ETF absorption, institutional corridor expansion, and AMM‑based liquidity migration. While total supply remains large, the liquid float - the only supply that matters for price - is projected to breach 1B XRP by Q3 2026. Regulatory clarity across global markets, combined with the rise of RLUSD and tokenized treasuries, is accelerating institutional lock‑in. As liquidity shifts from order books to AMMs, price discovery becomes algorithmic, forcing nonlinear repricing as float thins. XRP is transitioning from a tradeable token to a global settlement utility with finite operational supply. The scarcity is mechanical, structural, and accelerating. 1. The Fastest Drawdown in Crypto History On‑chain data confirms that exchange balances have collapsed from 3.7B to roughly 1.6B XRP in the last 12 months. ETF Absorption: Spot XRP ETFs (launched late 2025) are absorbing ~1% of circulating supply per month into cold storage. Inventory Drain: As of January 2026, exchange reserves are at 7‑year lows. At this pace, the “functional zero” floor of 1B XRP is projected to be breached by Q3 2026. Functional zero refers to the point where the liquid float becomes too small to support institutional settlement without severe slippage - typically around 1.1B XRP. Although ETF absorption is measured against circulating supply, the XRP they acquire comes directly out of the liquid exchange float. Why this matters: The market is competing for a shrinking pool of XRP that institutions are removing faster than it can be replenished. 2. Why XRP Is Different Most crypto assets are valued on speculation or retail hype. XRP is unique because its scarcity is driven by "UTILITY LOCK-IN", not sentiment. The Proven Model: Ripple built the corridors; institutions are now replicating them. Every wallet reserve, trust line, AMM position, and liquidity buffer removes XRP from the liquid float. Industrial Infrastructure: XRP has transitioned from a speculative token into the settlement plumbing for tokenized value. Why the Shortage Hit So Suddenly The supply shock of late 2025 wasn’t caused only by ETF proliferation. It was triggered by something deeper: institutions front‑running the future of tokenized settlement. Ripple’s early distribution was intentionally conservative. In the pre‑regulatory‑clarity era, only a tiny set of partners could legally hold XRP or operate corridors. Ripple had to seed liquidity into entities that were: - regulated - compliant - operationally capable - unlikely to dump - able to run corridors quietly This meant Ripple held the strategic inventory, while the liquid supply available to the public remained small. As global regulatory clarity improved - and as U.S. legislation like the Clarity Act moves toward passage - banks, custodians, and stablecoin issuers began accumulating XRP aggressively to front‑run the tokenized‑stablecoin economy. The Clarity Act is not required for the current drain to continue. It simply widens the aperture, lowering the cost of participation so a far larger set of institutions can embed XRP into their operations. The drawdown looks sudden because it is the release of pent‑up institutional demand that was legally constrained for years. 3. Total Supply vs. Liquid Supply (The Misunderstood Reality) Critics often cite XRP’s 100B total supply. But markets don’t trade total supply - they trade liquid supply, which is the pool ETFs and institutions actually draw from. Total Supply (100B) ↓ Circulating Supply (~50B) ↓ Liquid Exchange Float (1.6B → 1B) Today: - Liquid, exchange‑accessible supply: ~1.6B XRP - Locked in escrow, custody, reserves, AMMs, and institutional programs: tens of billions - Ripple’s strategic inventory: infrastructure, not float - OTC allocations: do not return to exchanges The world is not competing for 100B XRP. It is competing for a very limited supply that is actually liquid. This is the core of the scarcity story. - Understanding XRP’s Supply Architecture (Read Before Debating Anyone) A few points of contention often confuse people who are new to XRP’s supply mechanics, especially when they hear about Ripple’s escrow releases or ETF absorption rates. The architecture can be interpreted in different ways, but every interpretation leads to the same conclusion: the liquid supply is rapidly disappearing. - ETF absorption is measured against circulating supply - but it drains the liquid supply. -Circulating supply (~50B+) includes XRP in custody, AMMs, trust lines, Ripple’s strategic inventory, and OTC allocations. Most of this never trades The liquid supply - the XRP actually available on exchanges - is only 1- 2% of total supply (~1.6B → 1B). So when ETFs absorb 1% of circulating supply per month, the XRP they acquire comes directly out of the liquid float, not the broad circulating pool. This is why the float collapses even though the percentage sounds small. - Ripple’s monthly escrow releases do not replenish the liquid float. Ripple releases 1B XRP each month, but: - 700M–900M typically returns to escrow - 100M–300M goes to OTC institutional contracts - 0 XRP goes to exchanges OTC allocations are held in custody and never return to the liquid float. So Ripple’s escrow cycle does not offset ETF absorption, institutional accumulation, or AMM collateralization. No matter how you interpret the supply layers, the outcome is identical. Whether you focus on: - total supply - circulating supply - escrow mechanics - OTC distribution - AMM lock‑ups - institutional reserves you arrive at the same unavoidable fact: The liquid supply is the only supply that matters for price, depth, and slippage is collapsing at the fastest rate in XRP’s history. This is why the scarcity is structural, mechanical, and accelerating. 4. The Global Regulatory Backdrop (The U.S. Is Late) The U.S. is only one piece of the puzzle. The real adoption curve is global. - EU MiCA provides full digital‑asset clarity - UK EMI licensing enables stablecoin issuance - Singapore MAS supports tokenized settlement - UAE VARA enables institutional crypto rails - Japan FSA has clear stablecoin rules - Hong Kong is pushing tokenized treasuries Global institutions don’t wait for U.S. law. Tokenized settlement is already scaling offshore - and XRP is one of the few assets with regulatory clarity in multiple jurisdictions. 5. The Clarity Act: The Institutional Accelerant The Digital Asset Market Clarity Act of 2025 (H.R. 3633) is the accelerant - not the origin - of the trend. Section 310 Impact: Prevents federal regulators from forcing banks to treat customer XRP as a balance‑sheet liability. Lower Barriers: Banks can hold XRP reserves to run stablecoin pools and satisfy XRPL requirements without punitive capital treatment. The Shift: XRP becomes a digital commodity used for operational efficiency, not a speculative asset sitting in a risk bucket. 6. Market‑Maker Mechanics: Why Repricing Becomes Nonlinear As float shrinks: - Market makers widen spreads - Depth collapses - Slippage increases - Institutions must pre‑fund corridors - AMMs become the dominant liquidity layer This is the mechanical reason why: Repricing is not gradual - it is forced. When float breaches 1B XRP, the market structure itself drives price discontinuities. Why this matters: Once spreads widen and depth collapses, price cannot remain stable - the structure forces repricing. 7. The Road to the Critical Floor Looks Predictable Q1 2026: Reserves slide toward 1.3B. The January 1st escrow release (1B XRP) was the last major “buffer” before the supply‑demand curve turns vertical. Q2 2026: Stablecoin consortiums (utilizing RLUSD) launch globally, locking hundreds of millions of XRP into liquidity pools. Q3 2026: Exchange float breaches the 1B floor. Order books thin by ~40%, making large‑scale acquisitions nearly impossible without massive slippage. Q4 2026: Trading migrates to Institutional AMMs and private dark pools as the “retail float” vanishes. 8. Macro Tailwinds: Why 2026 Is the Inflection Point The timing isn’t random. The macro environment is aligned for tokenized settlement: - Tokenized treasuries exploding - Stablecoin settlement surpassing Visa volume - AI‑driven commerce requiring instant liquidity - Global de‑dollarization pressures - Corporate treasuries adopting tokenized cash equivalents - Banks seeking real‑time settlement rails XRP sits at the intersection of all of these trends. 9. Repricing Through Necessity At the low $2 area today, XRP is in a period of “quiet accumulation.” Once the 1B float is breached: Nonlinear Repricing: Institutions needing hundreds of millions of XRP for settlement will force the price higher as demand overwhelms supply - and given XRP’s utility, this is unavoidable. The Reserve Asset Transition: XRP shifts from a “tradeable token” to a reserve instrument for the global multi‑money verse. 10. The 2026 Institutional Multiplier The final piece of the scarcity puzzle is the collateralization of RLUSD. As Ripple USD (RLUSD) becomes the core settlement asset for entities like LMAX Group and European payment providers, a multiplier effect emerges: The Bridge Requirement: Every $1B in RLUSD volume requires a corresponding layer of XRP liquidity locked into AMMs to maintain low‑latency conversion. Tokenized Treasuries: Platforms like Ondo Finance are now using XRPL for U.S. Treasury redemptions. Every dollar of tokenized debt moved over the ledger increases the “utility tax” paid in XRP. The January 15, 2026, Ripple-LMAX partnership (integrating RLUSD a

Significant_Cat_8436

If you cant afford to lose that money dont invest. What are you going to do if/when Bitcoin drops 10% in any given year which will happen. Now your down inflation and MTM on Bitcoin. Covered call ETF's will also almost always under perform.

BuddhaZen99

I was thinking this seemed too small a profit based on the jump in price. I did the math myself, then double checked with AI. Looking at determining real custody of Bitcoin, or going with an ETF like BTCI or STRC for weekly income. Of course the math depends on how fast Bitcoin rises to $120,000 level. I am thinking it will sometime this year. The advantage of owning Bitcoin would be as a hedge against the Dollar which contacted 10% last year, I believe. Can't afford to keep losing 10% of value in my cash.

Bubbly-Grass8972

Here’s Claude AI summary: The main point: Bitcoin and cryptocurrency are increasingly controlled by traditional Wall Street financial products rather than operating as the independent alternative currency they were meant to be. What’s happening: 1. ETFs are now in charge: Bitcoin ETFs (exchange-traded funds) are investment products that let people buy Bitcoin through regular stock brokers. The daily money flowing in and out of these ETFs has become the main thing driving Bitcoin’s price. 2. Traditional finance is taking over: Instead of crypto being separate from the traditional financial system (which Bitcoin’s creator, Satoshi Nakamoto, criticized as broken), it’s now being absorbed into that same system. 3. The numbers show it: Recent data shows wild swings in these ETFs - one day $250 million flowed out, then $754 million flowed in, then $841 million. These massive movements in traditional investment products are now what moves Bitcoin’s price, not activity on crypto-native exchanges. 4. Why it matters: The “independence” of cryptocurrency is eroding. It’s no longer about the technology or decentralized protocol - it’s about how Wall Street packages and trades it. Traders now check ETF numbers first to understand what’s happening with Bitcoin, rather than looking at the actual crypto markets. The irony: Bitcoin was created to escape traditional finance, but it’s increasingly controlled by traditional finance.​​​​​​​​​​​​​​​​

snoone1

Listen (and this will get killed here), Crypto is dead! This lot dont want to admit it. I say this as someone holding bags. It’s done. AI has taken over as the hot new tech people want to invest in. The cycles it followed are gone, that doesn’t happen properly anymore. The ETF have been a negative as much as positive. It’s all cooked

DBRiMatt

Probably a number of factors including; * Less gambling money/stimmie cheques * significantly more alt-coins to buy from * significantly higher circulating supply on older alts (High inflationary tokens unlikely to see similar prices) * Less rotation from BTC into alts, likely due to increased institutional money (ETF's)

Short-Shopping3197

About 50% in a world index tracker ETF, 25% split between gold and Bitcoin, and 25% in a zero-risk national bond scheme as my emergency fund. In the UK the ETF, gold and bonds are all tax free, I’ll start drawing the BTC out from age 50 at my annual tax free CGT allowance.

MakCapital

Can you write without gpt? You have absolutely no idea what you're talking about. The ETFs also weren't just "approved" under Biden. The BTC ETF was after it became clear they would lose to the courts, and the ETH ETF got zero hour approval by a hair because Trump was gaining votes and funding by aligning with the crypto industry. There was no upside to continue fighting it. It would have stopped there, though. This is not how you determine if there was a full US war against the industry. Towards the end, we were scared to launch anything that even touched US users. As an investor, you should be much more plugged in. Nothing was allowed besides BTC and BTC self custody was next in the chopping block. This only touches on what was going on, but misses mountains more of US backed attacks against everything our industry. https://www.reddit.com/r/CryptoMarkets/s/WZgCny6oku

coinfeeds-bot

tldr; U.S. spot Bitcoin ETFs saw $1.7 billion in inflows over three days from January 13-15, 2026, reversing earlier outflows. Bitcoin briefly traded above $97,000 during this period, with BlackRock's iShares Bitcoin Trust (IBIT) leading inflows at $648.39 million on January 14. The surge boosted market sentiment, reflected in the Crypto Fear and Greed Index. By mid-January, spot Bitcoin ETF assets totaled $128 billion, holding 606,000 BTC. The inflows highlight shifting market dynamics, though subsequent outflows on January 16 suggest volatility remains high. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

mrjune2040

Meh- the US didn’t have a ‘war’ with crypto. The ETF’s were approved under Biden, and every administration has been reasonably favourable to its growth- that’s why businesses like Coinbase, Kraken and Ripple have been able to grow unabated over the past 13 years. The difference right now is a huge amount of deregulation to appease those same crypto tech giants- imo it’s going to hurt consumers eventually. As for volatility, you can wish for that and pretend it’s positive—but the best long-term gains happen when markets have certainty. You can put lipstick on a pig, but there is nothing positive about tariffs as relates to risk assets.

Altruistic-Raise-579

Feels like everyone’s saying that at the same time which usually means it won’t happen the way people expect. Most alts I watch only move after BTC money actually settles somewhere else, not just because timelines get bored. I’ve been casually jotting down rotation patterns after ETF heavy weeks and half the time alts lag way longer than the vibes suggest. Still though, when it flips it usually feels sudden as hell. Kinda curious which bags people are quietly tracking vs just hoping on.

Ubalgin

It s going down…at least in my opinion…ofc nobody knows sh1t about fck…but even if you didn t include 4 years cycle theory…look at the state of tje world and world economy…it s crazy what is happenning right now..that s why we re witnessing huge gold bull run…because people are scared and want to save value of their money…but as you can see they still chose traditional assets…mainstream gold rush moved from crypto towards ai stocks…and at one place there will be correction of precious metals and ai stocks…as investors would take their profits…which will affect crypto downturn even more…so man things are not looking very bright at the moment…and i still even didn t start with bear market theory…which is relevant as well. Institutions adopted crypto..but is still only 2 years since first ETF approval…we re sooo early…and if you re this huge institutional investor, wouldn t you try to chase better entry point as well? 

rocket_beer

ETF and centralized exchanges are not BTC holdings, at all.

ReliantToker

The irony is that every cycle 'repeats' until it doesn't. We've already broken the script: 2025 was the first post-halving year to end in the red. If you're waiting for October, you're likely ignoring the fact that the floor is being front-run by institutional ETF flows and a shift toward a 2-year liquidity cycle. Are you betting on a 2018-style crash in a 2026 institutional market?

Jimagon

I was until this week. I was 90% invested in bitcoin and did a deep dive on ETF returns for the past 5 years. I’ve since invested funds into some ETFs, that were going to be invested into BTC. I’m still mostly invested in BTC but diversified a Bit more now

Boniouk84

No. It’s tied to increases desire for risk. Which in the Stock World is measured in small caps or Russell 2000. Another correlation to driving that confidence is increased supply chain and manufacturing demand. Measured explicitly in a metric called the ISM. Overlay the ISM onto Total3ES (all crypto market-cap minus btc, eth & stables) and you get a PERFECT correlation. What’s more… the ISM historically always pumped every 4 years… apart from this year it’s bee surpressed for the longest period in history. (40 months). Again, this ties in to the delayed bull cycle. You might hear people saying we had the bull. We didn’t. We had a brief institutional ETF pump. Bull is this year. Remind me of this in 6 months.

focal78

About 50-60% of Crypto net flows is currently through ETF products available through traditional brokerages. Think IBIT, BETE, BITO. This still remains the easiest way to diversify into cryptocurrencies while understanding the space better to determine how you want to allocate your investments.

AmphoePai

King - stocks, Queen - ETF's, Rook - Gold/Silver, Knight - Bitcoin, Bishop - Ethereum, Pawn - Altcoins.

misbister14

XEQT + BTCC.B (Bitcoin ETF) in my maxed out TFSA (in Canada) plus actual BTC. My allocation has turned into mostly Bitcoin though due to gains, although I still invest in XEQT as well.

coinfeeds-bot

tldr; Bitcoin's recent rise appears to be a 'false breakout' rather than a sustained recovery, as technical indicators show waning momentum and resistance at key moving averages. Shiba Inu and XRP also face technical challenges, with Shiba Inu nearing a critical resistance level and XRP showing a weaker recovery outlook. Broader market uncertainties, including U.S. Federal Reserve policies and declining ETF inflows, add pressure to crypto assets, suggesting caution for investors amid these conditions. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Lega17

Despite fewer nodes, Solana has seen record highs in network activity, decentralized exchange volumes, and ETF inflows.

VariatCA

We had multiple periods of spikes to the 93-95k range followed by drops back down to the 83-85k range, while a ridiculous daily-volume of leverage fought back & forth and ETF's did huge amounts of trading volume as long-term holders exited and new buyers absorbed it. Go back and check the last 1 year of charts; 6-7 weeks is a pretty common period of price consolidation before it breaks to either the upside or downside. We weren't going to just chop for 4-6 months while other markets are still tentatively testing their own highs.

Informal-Ad220

I thought you might appreciate my follow-up. I went back to ChatGPT and asked my same question, this time being a bit more specific: **What percentage of the total amount of Bitcoin ETFs sold are Bitcoin spot ETFs backed by real BTC 1:1, and what percentage are ETF futures?** I also asked the same question of Grok and Google Gemini. ChatGPT gave me the same results as before, whereas, Grok and Gemini gave results more in line with your results. I have no explanation for the discrepancies. It was an interesting exercise.

No_Mix7262

Bitcoin ETF. Don’t trust myself to store

21Bullish

I hear you and who knows if we'll get a bull market this year or not, but here's what I'm thinking. 1. $100k is a psychologically major price level that takes a while to break through. 2. Bitcoin's thesis only grows stronger: bitcoin as an eventual replacement for fiat currencies which are debased at an increasing rate with no end in sight. 3. Institutions are truly here. Harvard's largest public allocation is BTC. Morgan Stanley filed to launch their own bitcoin ETF. Banks are acquiring and developing solutions. 4. The Trump administration has said they will "run it hot" and have a major incentive to juice the economy heading into the midterms.

Wise-Ostrich9790

I have no debt and a net worth of CHF 320k at the moment. ETF is also covered but i am so convinced of bitcoin hitting soon another ATH that this idea came up. Need to think about it or just continuing DCA and risk to miss out a high rise anytime soon. But maybe this risk is better than risking to loose the 50k of loan.

RawAsl

ETF money pools exceed BTC supply, the books will parabolic price on market

TheRicFlairDrip

the same custodian holding an BTC ETF doesnt have plenty of altcoins to choose from, ETH, XRP, SOL and LINK maybe. Those arent even altcoins anymore if you ask me, they are crypto blue chips.

baIIern

AI pictures will never be good, won't they. And how tf do we know which wallet or ETF share is an "institutional investor"?

Ubalgin

My opinion is that it will…lot of global security and economic instability…all money flowing into precios metals and ai…bull run of gold means people are scared so they try to protect their money…but still the old way by gold…and you must be real…it s how long…year and half/two from first BTC ETF approval? Man we re just so early…yes we see some institutional adoption…but if you this huge institutional investor, wouldn t you chase means to get better entry position on BTC price? This all combined with low liquidity and 0 retail interest (because retail is broke) is huge ticking time bomb.

Neither_Plan_8387

Bottom line of... grok: $1 million by 2030 is still a very live, credible bull-case scenario — especially if ETF flows stay strong. gemini: The focus in 2026 has shifted away from "if" it hits $1 million and more toward **"how long"** it will take—with many now looking at the **2032–2034** window instead of 2030. chatGPT: Yes — some prominent leaders and analysts continue to make that forecast, and no — many experts see lower prices, and there’s significant disagreement in the market.

tornavec

Everything is looking good on the institutional investment front. BTC ETF inflows have set new quarterly records for two days in a row.

Bitcoin-Revolution

Bitcoin is eggs and they say: don’t keep all your eggs in the same basket.. so better have BTC in different places like private wallet, MSTR, ETF. Warren Buffet said something like Diversification is for ignorant. If you know about the best asset is the world, why would you want to diversify ?

ZRBPartDeux

I think the global liquidity part is the only thing matters. For me all the ETF talk is just noise compared to what the central banks are doing behind the scenes.

Ok_Extension2820

Stop using leverage. Buy and hold. If you really want leverage, you can buy long dated options on bitcoin ETF’s . There’s no guarantee that BTC will perform that heavily even for options 2 years out though.

coinfeeds-bot

tldr; Bitnomial launched the first U.S.-regulated Aptos (APT) futures on January 14, providing institutions a compliant way to trade APT. This coincided with Aptos achieving record revenue, generating over $1.7M in transaction fees on December 31. Institutional interest is growing, with Franklin Templeton and BlackRock deploying tokenized funds on Aptos, which now hosts $723M in real-world assets. The regulated futures market is seen as a step toward potential spot crypto ETF approvals under SEC standards. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

extrastone

Cool. Gold is scarce. Your problem is that for at least a thousand years every nation that gained any form of sophistication has tried to abstract gold into paper certificates like dollar bills. Today we abstract gold into ETF's. Bitcoin travels via the internet so its speed is fitting for today's e-commerce.

Murkoo

There is also an HBAR ETF if you are prepared to take more risk for a potential higher ROI

rgnet1

Now think of Bitcoin ETFs. A fund manager relies on a custodian to hold the bitcoin. The custodian may suffer a theft or loss. Maybe they're just incompetent. Maybe they're a bad actor that decides to pretend they bought BTC when they didn't. Any of these scenarios is like looking into the stuffed metal in the OP's silver bar pic. And when the discovery is made and the ETF holds far less actual bitcoin than its purported value, who do you think loses? The fund manager or the shareholders?

awesomeblindingyou

ETF decision isn't final yet? If so, it will probably be a sell the news event after the run we had a few days ago.

freakythrowaway79

What's wrong with SGOV ETF? It's certainly better than a traditional crap bank savings acct. 🤔

stories_from_tejas

I would never tell anyone to go into crypto, but not even putting it on an ETF in the stock market is crazy

AutoModerator

Post is by: Mission-Stomach-3751 and the url/text [ ](https://goo.gl/GP6ppk)is: /r/CryptoMarkets/comments/1qdj7vh/thursday_recap_btc_above_97k_strong_etf_inflows/ BTC pushed above $97K while price action remained relatively calm, but underlying signals were constructive. Spot Bitcoin ETFs recorded ~$753M in net inflows (the largest daily inflow since October), suggesting institutions are still accumulating rather than chasing. On the infrastructure and regulatory side, progress continues: • Visa and BVNK launched stablecoin payout infrastructure • Pakistan moved forward with USD1 integration • Germany’s DZ Bank received approval to launch a crypto platform • NYSE listed a Chainlink ETF Price may look quiet, but the ecosystem continues to build steadily beneath the surface. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoMarkets) if you have any questions or concerns.*

gentryb_1

low treasury vol is actually pretty bullish for risk assets in general. when bonds are stable institutions rotate into other stuff. combine that with the ETF momentum and halving effects still playing out, btc looks solid here imo

Elegant-Surprise6678

That's kinda what I do right now, I have BTC, Canadian Bank ETF, a QQQ ETF and some SP500 related ETFs.

BarbaraW_Matthews

Mostly ETF inflows, expectations of rate cuts, and the usual post-halving supply story. Big money is back, basically.

Will_Koinly

Mix of ETF inflows, 401k allocations, and macro fear trades (someone sold)

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Post is by: Animalverse and the url/text [ ](https://goo.gl/GP6ppk)is: https://animalverse.social/community/p/32017/ ⚡️ NEW: Bitwise’s spot $LINK ETF pulled $2.59M in net inflows on day one. https://animalverse.social/community/p/32017/ *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoMarkets) if you have any questions or concerns.*

VariatCA

Guess that helps explain why Crypto was up on a day where stocks were down as much as -1.5% and the entire Mag-7 was in the red. ETFs set another, daily-consecutive, higher-high of net inflows since early October. **+$840 Million** in net BTC inflows today (Blackrock alone was +$648M) and ETH had net inflows of +$175 Million. That's over $1 Billion worth of ETF purchasing today, and just over $2 Billion in the last 3 days. Shorts wanted *none* of that smoke today trying to go up against that sort of accelerated buying momentum.

BitcoinStrategy101

Treat it like real estate. The rich borrow off of it so they can extract cash to live off, while avoiding income taxes. Sooner or later, there will be ways to generate recurring income off Bitcoin but we'll see... at the moment, the only avenue I'm convinced that works (without lending/selling BTC) is selling far OTM call options against a IBIT ETF.

Glyzzza_

Woah strong ETF inflows usually signal real institutional demand—if this momentum holds, patience and solid fundamentals tend to win over chasing hype.

Logvin

If you really want to diversify, having a robust portfolio that includes stocks snd ETF’s is important. Maybe put a small percentage in a software company like MicroStrategy or an ETF like GBTC!

ThisCommentIsHere

I for one am 100% Bitcoin ETF in my Roth IRA, and did just invest the max amount for 2026 ($7,500)

theAerialDroneGuy

Bitcoin jumps 3.6% in 24 hours as ETF inflows and macro optimism drive price to a three-month high, signaling renewed institutional demand Institutional ETF inflows U.S. spot Bitcoin ETFs saw their largest single-day net inflows in three months, totaling about $754 million. Fidelity, Bitwise, and BlackRock led the surge. Analysts at Kronos Research and LVRG Research say these inflows are driving a structural tailwind, absorbing supply and supporting the price rally. This marks a clear return of institutional demand atter year-end caution. Macro policy speculation Traders are betting on easier monetary policy after President Trump's criticism of the Fed and speculation about leadership changes. This has fueled expectations for lower interest rates, which typically benefit Bitcoin. Analysts caution that the Fed is insulated from political pressure, but the market is reacting to the possibility of a more dovish stance.

Centmo

I think your GPT is hallucinating. Ask it to list the three largest of each. Backed by BTC (physically held ~1:1) 1. IBIT (iShares Bitcoin Trust) — $75.10B AUM  2. FBTC (Fidelity Wise Origin Bitcoin Fund) — $19.61B AUM  3. GBTC (Grayscale Bitcoin Trust) — $15.88B AUM  Not backed by BTC (futures/derivatives “paper BTC”) 1. BITO (ProShares Bitcoin Strategy ETF) — $2.17B AUM (futures/swaps; no direct BTC)  2. BITX (2x Bitcoin Strategy ETF) — $1.51B AUM (2x leveraged exposure to BTC futures index)  3. BITI (ProShares Short Bitcoin ETF) — $97.22M AUM (inverse exposure via futures-linked benchmark; no direct BTC) 

Informal-Ad220

From ChatGPT: # Spot Bitcoin ETFs vs. All Bitcoin ETFs (by assets) * In a **global snapshot of the 20 largest Bitcoin ETF products**, *spot Bitcoin ETFs* made up about **38.5 % of total assets under management (AUM)**, while *futures-based Bitcoin ETFs* held around **61.6 %** of assets.

VariatCA

97.3k was the highest price seen for Bitcoin in over 3 months, since November 14th. Just blasting out one higher-high after another since the November lows now. Confidence is returning and the momentum has shifted, and ETF inflows approached nearly a billion dollars yesterday.

BusyBeeTC2012

in past cycles you usually see BTC chill or top out, then money starts leaking into alts. And right now the market isn’t nuking, it’s kinda just sitting there tbh lol. That does look like the kind of setup we’ve seen before an alt run. But every cycle also finds a new way to screw expectations. Macro, ETF flows, regulations, random black swans and all of that can change the script of cycles pretty fast. So yeah, the vibes are somewhat similar to previous alt season but it could just as easily turn into months of chop or another fake out.

just4crypt

ImHo, no. Bitcoin is supposed to be digital gold right? Well if gold has its own previous cycle it makes sense for BTC to have its own too. In times like this I always try to remember my emotions.. Remember how everything already "aligned" last year? Trump, ETF, Rate cuts, etc. But still, BTC dumped the way it did. Of course all of this is just speculation, but for me, the 4-year cycle holds until proven otherwise. I'm just not gonna assume/claim that it's not applicable anymore coz "this time it's different"

ImperialPotentate

That would be nice. I have the cash from my 2026 TFSA (Canadian Roth IRA) contribution just sitting there in the account, and was going to add to my Bitcoin ETF but it's above my average cost right now. $80-85K would let me add and knock average down significantly which would be nice. Actually anything under $90K would have the same effect, but I've been holding out for dip.