the 13f filings from the bitcoin ETFs show that retail still dominate Hardvard making bitcoin it's largest position in Q3 and Abu Dhabi tripling it's position is bullish long term to me tho, I see Harvard as a proxy for the 'old money' w/ strong politiical and financial ties. But yeah, retail being primary owners mean to me that the 'reduced vol' argument for Bitcoin is still bullshit.