Oh I've no doubt that crypto is or going to be part of an asset mix of many a fund. That is not in dispute. For me it's the utility of blockchain, smart contracts, DAOs, etc. - all which seem to be, on the surface, wonderful things - but all appear to crumble as soon as one removes the speculative aspect of it. DAOs in particular sound wonderful, but as soon as we get into the workings of things we start seeing cracks - for example ennforcing the constitution against actors that are nihilistc who are willing to destroy their own value for the purpose to destroy the DAO as a whole (just one example). Again - I understand very little of it... and I am certain that there are tech solutions to many of these objections... but the more complicated the system gets the lest trust there is. Heck - if we can't trust CDC as a society, how can we trust some obscure and convoluted crypto algorithm.