For several decades, the realm of financial engineering on Wall Street has been punctuated by periodic crises, prompting practitioners to relentlessly seek the perfect asset class: one that is liquid, yields income, and serves as an effective hedging instrument when required. In the 1980s, portfolio insurance gained traction; in the early 2000s, collateralized debt obligations (CDOs) came into the spotlight; and now, in the 2020s, Bitcoin ETFs appear to be the next frontier. As investors pivot from traditional safe havens like gold to digital alternatives such as Bitcoin, U.S. Bitcoin ETFs have witnessed substantial inflows, progressively solidifying their role as hedging tools. However, the notorious volatility of the Bitcoin market presents challenges for Bitcoin ETFs, elevating investment risks. Despite this, Wall Street's sustained and robust interest in Bitcoin ETFs underscores the financial community's recognition and acceptance of the cryptocurrency market, thereby fueling its legalization and formalization.