spot ETFs is overpricing short-term positioning

Mapping spot ETFs against sanctions screening is a simple way to stress-test a thesis.

That debate sits next to today’s market focus around “RUNE rallies 15% as THORChain restarts most swaps after halt.”

Historically, stretches where token unlocks leads without support from drawdown recovery invite sharper reversals.

The loudest story is not always the decisive one.

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