On 8 October, UK retail investors will once again be able to invest in Bitcoin exchange-traded notes (ETNs), which will be listed on the London Stock Exchange. This accurately described many crypto assets at the time, but I believe it was heavy-handed to include Bitcoin, along with the other major projects such as Ethereum. In 2020, Bitcoin was emerging as an institutional asset, as it already had an active futures contract in the US. For example, crypto assets are volatile, but even in 2020, Bitcoin was much less so than the rest. It has become the de facto reserve asset of the internet.