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Ripple Effect

Institutions Are Still Slow to Crypto Adoption

Loading ...Addison Wiggin

November 24, 2025 • 1 minute read


bitcoin ETF

Institutions Are Still Slow to Crypto Adoption

It’s been over 18 months since the first bitcoin ETFs launched. But institutions have yet to embrace these new products:

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Markets dropped after opening nearly 2% higher, for only the third time. (Source: BeinCrypto)

Institutional investors are more interested in the crypto technology ecosystem – stablecoins and blockchain technology.

Rapid retail-driven four-year cycles are slowly giving way to longer cycles tied to market liquidity and economic trends.

~ Addison

P.S. Last week’s Grey Swan Live! with Mark Jeftovic and Ian King may prove one of our more timely episodes.

Mark and Ian covered key developments in stablecoins and how the current selloff impacts our “Dollar 2.0” digital asset thesis, including specific guidance on the stocks in the Dollar 2.0 research report available to paid-up members.

While this is a holiday-shortened week, we’ve arranged for a special video presentation on Thursday with Tim Sykes.

Tim is one of the top traders in the game today – and he’s sharing details on a strategy he uses to find stocks ready to pop higher after markets reopen after the weekend.

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If you have requests for new guests you’d like to see join us for Grey Swan Live!,  or have any questions for our guests, send them here.


The Hindenburg Five

February 24, 2026 • Addison Wiggin

The stock market “rebalancing” is a polite way to put it. Energy and health care are getting a healthy boost. But tech hardware and software makers are still getting dressed down and have been asked to report to the principal’s office.

The great rotation underway has triggered a series of “Hindenburg Omens.” Five have occurred in recent weeks.

The Hindenburg Five
Piercing The Veil

February 23, 2026 • Addison Wiggin

The S&P 500 has traded in a 3.7% range over the past two months — less than half the 20-year median of 8.6%. One of the tightest ranges in modern history.

In trader parlance, the indexes are “flat,” a setup that often materializes before a sell-off at the top after a multi-year bull market.

Goldman Sachs told its own traders to be aware that institutional trading activity resembles a VIX reading near 35. Rather than a reading of 20, where the VIX has been trading over that same 2-month period.

The U.S. software ETF, IGV, tested its April 2025 lows last week and trades roughly 35% below its peak. The “SaaS-pocalypse” in software companies reflects the fear of Citrini’s 2028 scenario happening in real time.   That divergence now exceeds the spread seen at the peak of the Great Financial Crisis.

Under the surface, the “great rotation” we wrote about last week is threatening to widen.

Piercing The Veil
Oh. Canada

February 23, 2026 • Addison Wiggin

Despite its overly-educated 40-million-plus population, on a GDP per capita basis Canada is null. Collectively, the Great White North would rank as America’s second-lowest state, coming in above Mississippi, but below Alabama.

Oh. Canada
Matt Milner: SpaceX + xAI: What It Means for You

February 20, 2026 • Addison Wiggin

SpaceX is the most valuable private startup in history — and if its success continues, it might become the most valuable public company in history.

After all, as Musk famously said in 2023, “I have never lost money for those who invest in me and I am not starting now.”

For investors, SpaceX has been a wild, joyful ride — and now the journey continues!

Matt Milner: SpaceX + xAI: What It Means for You