Exactly. It's currently a drop in the ocean. As predicted by much of the media, it's barely relevant, much like when Bitcoin Futures initially launched. The interest was almost non-existent.

For reference inflows were never expected to be that high initially, regardless of current price being high or low. Asset managers and institutions were always going to sit on the sidelines and engage in a more "wait and see" approach, as a form of basic risk management rather than FOMO into such an offering, such as waiting for price stability over a period of months.


This I don't doubt, but until it does, I wouldn't describe Bitcoin as TradFi, only aspiring to be as such. There is still a long way to go, these concepts don't happen overnight or with a flick of a "ETF" switch.
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Well, 5% is NOT a drop in the ocean....you remind me of my students who think that 5% of a grade is NOTHING, when it is exactly what it is, 5%.

For fun, there are approximately 2.664X10^25 drops in the ocean while ETFs volume is 5 "drops" in a 100 "drops" (about 5ml or about a teaspoon).
For a supposedly "numbers guy" you threw these comparisons around with a bit too much ease, but don't take it as a critisism..I understand ht you meant, emotionally, but let's stick to numbers, OK? Peace.