Coming to the conclusion that there are very few assets outside of Bitcoin and Hyperliquid on secondary that are investable.

If one purely runs a liquid book of digital assets then you need to massively increase concentration of those positions.

However, I do believe having traditional equity exposure to crypto companies is a better way to run a liquid book given a significant amount of Institutional flows will be run here outside of the ETF products.

Digital Asset and Equities blend may be the best move going forward for the next 5 years.