🔑 Keys Lost to Convenience

Happy Friday, In A Nutshell this week:

• 🔑 Keys Lost to Convenience

• 🇬🇧 ETNs Go Live at Last

• 🗣️ Shared Custody, Without Oversharing

• 🏆 A Golden Road to $200K

• ☁️ Servers Down. Nodes Up.

• 💼 Bitcoin Becomes the Benchmark

• …and much more

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

 🚀⏰ Today’s news should be a ~5.38-minute read (843 words).

🧠 Quote Of The Week

“Freedom, security, convenience – choose two.”

— Dan Geer

🔑 Keys Lost to Convenience

Large holders are shifting coins from self-custody into BlackRock’s US Bitcoin ETF (IBIT).

The move breaks from the core ethos of “not your keys, not your coins”, with many using in-kind transfers to swap BTC directly for ETF shares without selling.

For many, the simplicity of brokerage access, easier tax and estate handling, deep liquidity and a familiar wrapper is appealing, but it comes with greater centralisation and counterparty risk.

🇬🇧 ETNs Go Live at Last

Bitcoin exchange-traded notes (ETNs) are now live for UK investors, after delays caused by the FCA processing applications.

Institutions have had access for months, but retail trading only opened two weeks ago when the FCA lifted its four-year ban. 21Shares, Bitwise, BlackRock and WisdomTree now all have products available.

Despite this positive move to bring Bitcoin exposure to mainstream investors, some brokers, including Hargreaves Lansdown, are still warning clients that Bitcoin has “no intrinsic value.”

🏆 A Golden Road to $200K

As gold surges, Bitwise says even a small shift from gold into Bitcoin could boost the price well above $200k.

Its research suggests a 5% rotation would imply around $242,000 per BTC at recent levels, while 3–4% could still drive a major jump.

Bitwise’s CIO, Matt Hougan, argues gold’s run offers a roadmap for Bitcoin’s next leg, and that even a modest reallocation from gold to Bitcoin could have outsized effects on price.

🗣️ Shared Custody, Without Oversharing

Bitkey has proposed a way to make collaborative multisig more private. It’s called Chain Code Delegation, and it aims to stop cosigners from seeing your wallet balances and transaction history.

The Bitcoin Improvement Proposal (BIP) shares only the minimal data needed to co-sign a transaction, rather than exposing the whole wallet as happens today.

If adopted, teams, families and company treasuries can keep the safety of shared custody without giving partners or providers a window into their finances.

☁️ Servers Down. Nodes Up.

Amazon Web Services suffered a major outage that took thousands of sites down, hitting exchanges like Coinbase and UK banks including Lloyds and Halifax.

The failure in AWS’s US-East-1 region showed how much of the internet depends on a few cloud providers, with knock-on effects across finance and communications.

By contrast, Bitcoin’s network has had 100% uptime since 2013, underlining the resilience of decentralised systems when centralised infrastructure falters.

Self custody decentralised money is that stability when centralised systems fail.

💼 Bitcoin Becomes the Benchmark

Roxom has launched Bitcoin-denominated perpetual futures, allowing traders to price and trade the S&P 500 and gold directly in BTC.

The Bitcoin-native platform removes a layer of USD conversion, reducing exposure for those operating on a Bitcoin standard and setting Bitcoin as the benchmark for traditional assets.

As adoption grows, Bitcoin is moving from an “alternative asset” to a unit of account for mainstream markets.

🧅 A Fresh Layer for Bitcoin

Ark Labs has launched Arkade, the first major Bitcoin layer-2 since Lightning.

The goal is to make Bitcoin programmable again so builders can create apps for lending, trading and payments.

Arkade keeps Bitcoin’s security, processes fast transactions off-chain, then settles back on the base chain. It may also open the door to stablecoins on Bitcoin, letting users do more without needing to switch to other blockchains.

Nearly a decade after Lightning, Bitcoin finally gets a fresh layer that boosts speed and features while keeping its core principles intact.

🔊 A Stacked Lineup for Bitcoin | A Competitive Advantage

The speaker lineup for Bitcoin | A Competitive Advantage already features Liz Truss, Joe Bryan, and more — with a major announcement coming next week.

From business leaders to independent thinkers, if you’re taking action or ready to start, this conference is for you.

Join us Friday, 21st November in Derby.

🎟️ Day tickets are now available and selling fast, grab yours whilst you can!

🔥 What else have you missed?

1. Trezor launches the first quantum-ready hardware wallet

2. Coinbase One Card is live in the US letting you earn Bitcoin on every spend

3. President Trump pardons Binance founder CZ

4. Bryan Johnson plans to live long enough to witness the final Bitcoin halving in 2140

5. VanEck says Bitcoin is in a “mid-cycle reset,” not a bear market

6. South African Airways becomes first airline in Africa to accept Bitcoin

7. Japan eyes letting banks hold and trade Bitcoin

8. Sky News says Andrew Tate has 21 million Bitcoin

9. Fidelity says Bitcoin is now ‘central’ to advisor-client conversations

🍾 Friday Fun!

This week’s crossword is now live - Play here

🧞‍♂️ Your wish is our command