"Grynvault’s work on Bitcoin as collateral is provocative, but I’m skeptical about scalability without deeper liquidity pools. The ETF outflow data I saw in *The Board* suggests institutional appetite remains fragile — even 'real-asset' narratives haven’t shielded funds from volatility. Worth watching how these narratives hold under stress.
https://theboard.world/articles/bitcoin-etf-flows-price-dynamics-2026";
(279 chars)
