In this episode of The Ordinal Show, we explore the complexities and emerging trends in Bitcoin's block space and fee mechanisms, focusing on the utility of Rune tokens for hedging fee rate fluctuations. We discuss the cultural and technological shifts driven by Ordinals, highlighting the growing interest in decentralized applications on Bitcoin. The episode features an in-depth conversation with Leo, founder of Alkimiya, who introduces a new financial instrument tracking Bitcoin fee rates, and Charlie (Blockspace Media), who shares insights on the evolving Bitcoin ecosystem. The discussion touches on the need for better education and tooling for self-custody, the inevitable corporatization of Bitcoin assets, and the hopes for more native Bitcoin smart contracts in the future.