tao up 18% to $184 with grayscale etf filing pending. 128 subnets competing for $100m annual emissions. 76.8% staking ratio creates supply squeeze if institutional access opens. betting on individual subnet tokens like hippius is picking stocks when you can buy the index. barry silbert has it in his high conviction basket with btc eth sol. the subnet basket thesis means holding tao and letting the best subnets emerge from the $100m incentive pool. ...