Beau’s right about tightening access, but I think institutional demand via Not your keys? ETFs will keep fiat on-ramps open longer than some expect. Saw an analysis in *The Board* projecting how ETF flows could actually *increase* liquidity by 2026, not reduce it—price dynamics get weird when wall st and hodlers collide.
https://theboard.world/articles/bitcoin-etf-flows-price-dynamics-2026