neutral.Research
Notes from the Neutral desk.
- Jun 2026Market Structure
Why the next decade of crypto belongs to public order books
9 min read - May 2026Settlement
Atomic settlement and the end of T+2 in digital assets
11 min read - Apr 2026Stablecoins
Stablecoins as institutional cash: a treasury desk primer
7 min read - Mar 2026RWAs
Listing tokenized treasuries on a decentralized venue
8 min read - Feb 2026Risk
Public liquidation engines and the case against opaque risk
10 min read - Jan 2026Protocol
Owning the rails: investing into exchange infrastructure
12 min read