diff --git a/src/__tests__/lib/query-hooks.test.tsx b/src/__tests__/lib/query-hooks.test.tsx
index 1590194..ac436ec 100644
--- a/src/__tests__/lib/query-hooks.test.tsx
+++ b/src/__tests__/lib/query-hooks.test.tsx
@@ -7,6 +7,7 @@ import { afterEach, beforeEach, describe, expect, it, vi } from 'vitest';
 import type { ApiClient } from '@/lib/api-client';
 
 import { useAssetFiles } from '@/hooks/useAssetFiles';
+import { useAssetReadme } from '@/hooks/useAssetReadme';
 import { useBundleReadme } from '@/hooks/useBundleReadme';
 import { useRegistry } from '@/hooks/useRegistry';
 import { queryKeys } from '@/lib/query-keys';
@@ -151,6 +152,41 @@ describe('useAssetFiles (TanStack Query)', () => {
   });
 });
 
+describe('useAssetReadme (TanStack Query)', () => {
+  beforeEach(() => {
+    sessionValueMock.api = null;
+    sessionValueMock.token = null;
+  });
+
+  afterEach(() => {
+    vi.restoreAllMocks();
+    vi.unstubAllGlobals();
+  });
+
+  const ref = { name: 'bare-skill', type: 'skill' as const, version: '0.1.0' };
+
+  it('fetches the README markdown by default', async () => {
+    sessionValueMock.api = makeTestApiClient('tok');
+    const { calls } = stubFetch(() => textResponse('# Hi'));
+    const { Wrapper } = makeWrapper();
+    const { result } = renderHook(() => useAssetReadme(ref), { wrapper: Wrapper });
+
+    await waitFor(() => expect(result.current.isSuccess).toBe(true));
+    expect(result.current.data).toBe('# Hi');
+    expect(calls[0]!.url).toBe('http://localhost:7071/assets/skill/bare-skill/0.1.0/readme');
+  });
+
+  it('makes no request when disabled by the caller', async () => {
+    sessionValueMock.api = makeTestApiClient('tok');
+    const { calls } = stubFetch(() => textResponse('# Hi'));
+    const { Wrapper } = makeWrapper();
+    const { result } = renderHook(() => useAssetReadme(ref, { enabled: false }), { wrapper: Wrapper });
+
+    await waitFor(() => expect(result.current.fetchStatus).toBe('idle'));
+    expect(calls).toHaveLength(0);
+  });
+});
+
 describe('useBundleReadme (TanStack Query)', () => {
   beforeEach(() => {
     sessionValueMock.api = null;
diff --git a/src/__tests__/routes/AssetDetail.test.tsx b/src/__tests__/routes/AssetDetail.test.tsx
index 4031de7..effbe9b 100644
--- a/src/__tests__/routes/AssetDetail.test.tsx
+++ b/src/__tests__/routes/AssetDetail.test.tsx
@@ -270,6 +270,45 @@ describe('AssetDetailRoute', () => {
     expect(screen.getByTestId('files-card-loading')).toBeInTheDocument();
   });
 
+  describe('README request gating', () => {
+    const listing = (paths: string[]): AssetFileList => ({
+      files: paths.map((path) => ({ path, sha: 'x', size: 1 })),
+      name: 'bare-skill',
+      type: 'skill',
+      version: '0.1.0',
+    });
+
+    beforeEach(() => {
+      setManifest({ data: MINIMAL_MANIFEST, isSuccess: true });
+      setReadme({ data: undefined, isSuccess: false });
+    });
+
+    it('requests the README when the listing includes README.md', () => {
+      setFiles({ data: listing(['SKILL.md', 'README.md']), isSuccess: true });
+      renderAt('/assets/skill/bare-skill/0.1.0');
+      expect(useAssetReadmeMock).toHaveBeenLastCalledWith(expect.anything(), { enabled: true });
+    });
+
+    it('skips the README request and shows the empty state when the listing has no README.md', () => {
+      setFiles({ data: listing(['SKILL.md', 'manifest.json']), isSuccess: true });
+      renderAt('/assets/skill/bare-skill/0.1.0');
+      expect(useAssetReadmeMock).toHaveBeenLastCalledWith(expect.anything(), { enabled: false });
+      expect(screen.getByText('No README is available for this asset.')).toBeInTheDocument();
+    });
+
+    it('waits for the listing before requesting the README', () => {
+      setFiles({ isLoading: true });
+      renderAt('/assets/skill/bare-skill/0.1.0');
+      expect(useAssetReadmeMock).toHaveBeenLastCalledWith(expect.anything(), { enabled: false });
+    });
+
+    it('falls back to requesting the README when the listing fails', () => {
+      setFiles({ error: new Error('boom'), isError: true });
+      renderAt('/assets/skill/bare-skill/0.1.0');
+      expect(useAssetReadmeMock).toHaveBeenLastCalledWith(expect.anything(), { enabled: true });
+    });
+  });
+
   it('renders every field of a fully populated manifest', () => {
     setManifest({ data: FULL_MANIFEST, isSuccess: true });
     setReadme({ data: '# Ready', isSuccess: true });
diff --git a/src/hooks/useAssetReadme.ts b/src/hooks/useAssetReadme.ts
index 127392f..8f9905f 100644
--- a/src/hooks/useAssetReadme.ts
+++ b/src/hooks/useAssetReadme.ts
@@ -6,11 +6,16 @@ import { type AssetManifestRef, fetchAssetReadme } from '@/lib/registry-client';
 
 /**
  * Fetch and cache an asset's README.md. Requires an authenticated session.
- * Resolves to `null` when the README is missing (HTTP 404).
+ * Resolves to `null` when the README is missing (HTTP 404). Pass
+ * `enabled: false` to skip the request when the caller already knows there is
+ * no README.
  */
-export function useAssetReadme(ref: Partial<AssetManifestRef>): UseQueryResult<null | string, Error> {
+export function useAssetReadme(
+  ref: Partial<AssetManifestRef>,
+  options: { enabled?: boolean } = {},
+): UseQueryResult<null | string, Error> {
   const { api } = useSession();
-  const enabled = Boolean(api && ref.name && ref.type && ref.version);
+  const enabled = Boolean(api && ref.name && ref.type && ref.version) && (options.enabled ?? true);
 
   return useQuery({
     enabled,
diff --git a/src/routes/AssetDetail.tsx b/src/routes/AssetDetail.tsx
index 5cd2577..1fc2147 100644
--- a/src/routes/AssetDetail.tsx
+++ b/src/routes/AssetDetail.tsx
@@ -43,8 +43,11 @@ export function AssetDetailRoute() {
   const ref = { name, org, type: assetType, version };
 
   const manifestQuery = useAssetManifest(ref);
-  const readmeQuery = useAssetReadme(ref);
   const filesQuery = useAssetFiles(ref);
+  // Ask for the README only once the listing shows one: the API answers 404 otherwise, and those 404s
+  // count as failed requests in App Insights. If the listing fails, fall back to asking.
+  const readmeListed = filesQuery.data?.files.some((file) => file.path === 'README.md');
+  const readmeQuery = useAssetReadme(ref, { enabled: readmeListed ?? !filesQuery.isLoading });
   const registryQuery = useRegistry();
   const { download, isDownloading } = useDownloadAsset();
 
@@ -234,7 +237,7 @@ export function AssetDetailRoute() {
         ariaLabel='Asset README'
         emptyMessage='No README is available for this asset.'
         isError={readmeQuery.isError}
-        isLoading={readmeQuery.isLoading}
+        isLoading={filesQuery.isLoading || readmeQuery.isLoading}
         readme={readmeQuery.data}
         testId='asset-detail-readme'
       />