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 Sunday, September 10th, and that means it's time for Long

Read Sunday. Before we get into that, however, if you are enjoying The Breakdown, please go

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bit.ly slash breakdown pod. Hello,, welcome back to another long read Sunday.

One major theme of conversations I've been having recently is what the SEC does next.

What do they do now that grayscale has won this legal decision?

They have, of course, been pretty mum on it, but many have speculated that it creates a shifting

narrative opportunity for them. Basically, a way to back off from their reject everything kind

of sensibility, and instead almost lay claim to a responsible regulator role by approving

a Bitcoin spot ETF, saying new information has come to light.

Courts clearly see this in a particular way. Our goal has never been to stop innovation.

And this is now finally a field that is ready for an ETF.

Today we're going to read excerpts from a set of pieces that all discuss some aspect of that.

And all I think reflect just how important this

ETF and larger institutional conversation is to the Bitcoin and CryptoNarrative right now.

We start with a piece from Tim Haltersson, the CEO of Lunar Strategy, called Bitcoin

ETF applications are Bitcoin's best marketing strategy. Tim writes, the biggest financial

houses in the U.S. are peddling Bitcoin's message and don't even

know it. You see, modern day marketing isn't confined to catchy ads or snappy slogans.

...