Grayscale CEO signals institutional capital rotation into digital assets as market conditions improve. Worth monitoring inflows to Grayscale products as proxy for institutional positioning. If allocators are actually moving off sidelines, expect pressure on $BTC and large-cap alts to compress volatility and establish higher floors. Institutional entry typically precedes 12-18 month accumulation phases before retail FOMO. Watch for correlation breakdown between crypto and tech equities as separate asset class thesis gains traction with pensions and endowments.