Welcome back to The Breakdown with me, NLW.

It's a daily podcast on macro, Bitcoin, and the Big Picture Power Shifts remaking our world.

What's going on, guys? It is Thursday, January 11th, and today is the show you've been waiting for when we can finally cap off and end our discussions of the Bitcoin Spot ETF.

Before we get into that, however, if you were enjoying the breakdown, please go subscribe to it,

give it a rating, give it a review, or if you want to dive deeper into the conversation,

come join us on the Breakers Discord. You can find a link in the show notes or go to bit.ly slash

breakdown pod. All right, friends, well, first of all, I have to apologize for yesterday.

I had gotten about halfway through recording a show when both my power and the

internet went out for a huge number of hours because of this East Coast ice storm we had.

You can only imagine as a daily content creator how brutal something like that is.

But in any case, I'm going to be basically combining the show that I was going to do yesterday

with today's show, so you will get some extra content. Now, we have a tendency to hyperboize in this space. Everything is the best or the biggest or

the greatest or the worst, but truly the last couple days have been some of the craziest things

I have seen. So to be clear, what we were talking about today is that almost 10 years after receiving the first

application, the SEC has finally approved spot Bitcoin ETFs. At around 4 p.m. yesterday, all 11

issuers were approved, including the gray scale uplisting. The products are listed across multiple

U.S. exchanges and should be available on all stock trading platforms. As

Pomp put it, the internet memed an asset onto Wall Street. Wild. Now, trading commenced this

morning, and it's off to a booming start, which we will discuss in a moment. But to really tell

this story, we have to go back to Tuesday. Now, it was on Tuesday afternoon that the moment

that we had all been waiting for

appeared to arrive. The SEC's official account tweeted, today the SEC grants approval for

...