Happy Friday, In A Nutshell this week:

If you enjoy the newsletter, pass it on to a friend.

🚀⏰ Today’s news should be a ~5.04-minute read (764 words).

🧠 Quote Of The Week

"When nobody controls it, it means we all have control of it."

— Local Salvadoran

Hargreaves Lansdown has started offering Bitcoin ETNs to its two million clients, nearly a year after the FCA reopened retail access.

It has listed six physically backed Bitcoin notes from BlackRock, WisdomTree, 21Shares and others, with fees up to 0.35%. To buy, clients must first pass an appropriateness test and a 24-hour cooling-off period, due to FCA regulation.

HL holds about a third of the UK direct-to-consumer market and was the last big platform holding out. It still tells customers Bitcoin has no intrinsic value.

Selling something you call worthless is quite a position to hold.

Bitcoin's correlation with gold has hit a six-year high, according to a new report from asset manager Bitwise.

The trigger was the US Treasury more than doubling its debt buybacks, in the same week American public debt passed $40 trillion for the first time. The dollar slid, and money went looking for something that cannot be printed.

Bitwise's André Dragosch put it plainly: investors have stopped choosing between gold and Bitcoin and are simply buying both.

For fifteen years Bitcoin traded like a risk asset. It is starting to trade like an escape route.

European Commission President Ursula von der Leyen says the bloc's €10 trillion of household savings are sitting idle and should be put to work for European companies.

Her plan leans on securitisation, looser investment rules for banks and insurers, and more centralised supervision, which Brussels reckons could unlock €470 billion. She wants all 27 member states signed up by year-end, and said she will proceed with the willing if they are not.

Brussels has been building this case for a decade. Its 2015 capital markets plan promised to put European savings to better use, and the language has not softened since.

Is money you can be shamed out of holding ever really yours?

Cornell University has published a Bitcoin Adoption Index built on interviews with 25,880 people in 25 countries.

El Salvador, Venezuela and Nigeria topped the list for the share of people who have ever owned Bitcoin. Not financial centres, but places where the currency is unstable, and dollars are hard to get.

Understanding was thin: 58% did not know the supply is capped at 21 million, but one Salvadoran summarised it well: "When nobody controls it, it means we all have control of it."

Adoption is not arriving where Bitcoin is best understood. It is arriving where it is most needed.

Standard Chartered has begun offering spot Bitcoin trading in the UAE, the first bank on the global too-big-to-fail list to do so.

Institutional clients at its Dubai branch can now trade Bitcoin on the same platforms they use for dollars and euros, settling with any custodian they like.

American banks still face punitive capital charges on holding spot Bitcoin. Dubai's regulator imposes none.

The Bitcoin Business Network is coming to the north, but time is running out. Newcastle is less than a month away, with Leeds and Manchester to follow.

You don't need to be a member; you don't need to pay for drinks; we have you covered. Just come along, bring a friend, and get a taste of what being a BBN member is all about.

P.S. It was never about the drinks. It's about who you're drinking them with.

1. UK Gilt yields hit highest level since 1998

2. Trezor data breach affects more customers than originally thought

3. Strive becomes the 5th largest Bitcoin treasury in the world

4. Saylor hits back at MSCI’s proposal to remove Strategy from their index

5. Remixpoint has sold its entire "Crypto" portfolio, moving the proceeds into Bitcoin

6. Ricardo Salinas told Mexicans to escape fiat inflation with Bitcoin

7. Fidelity: Bitcoin bear market may not yet be over

8. Argentina’s central bank forced to stop printing money

This week’s crossword is now live - Play here