Grayscale recently launched three index ETF products: Layer2, RWA, and AI+Crypto. The first round of institutional subscriptions exceeded $200 million. Capital flows are concentrated in core holdings such as ARB and FET. This precise allocation approach is guiding more traditional capital into niche sectors. For investors, this presents both a structural opportunity—niche tracks are expected to see valuation recovery—and new risks. If you want to ride the wave of institutional funds for short-term trading, focus on the constituent stocks of these ETFs. But be aware: once the fund adjusts its holdings, these targets may face passive selling pressure, and volatility will significantly increase. It is still necessary to prepare risk contingency plans in advance.