Recorded on the first day of Bitcoin ETF trading, Brian Cubellis hosts Larry Lepard and David Foley for a landmark episode of The Last Trade. The conversation opens with a bold assessment that Galaxy Digital's $13-40B ETF inflow forecast over three years is far too conservative given the scale of RIA capital that can now access Bitcoin with a single click. Larry and David argue that Wall Street has a structural blindspot around Bitcoin's supply dynamics — with 70% of coins held by long-term holders, the effective tradable float is far smaller than the headline market cap suggests. The episode covers sovereign wealth fund FOMO, the macro backdrop of monetary plumbing under stress, and why this ETF approval could mark the crossing-the-chasm moment for Bitcoin's mainstream adoption.