What is your best way to capitalize on this, and do you think spot Bitcoin ETFs will also have impact other traditional financial systems?
Uhm — hold bitcoin, obviously? Of course, if you want to potentially maximize exposure you can do things like long perps with leverage, but then risk/reward gets bad because of potential liquidations due to extreme volatility.
As for impact, stretch the timeframe long enough then it's likely that gold will get less market share in terms of SoV.