1 month ago
U.S.-listed spot bitcoin (BTC) exchange-traded funds (ETFs) person seen a 175% year-over-year summation successful astir the archetypal 3 weeks of trading. In 2025, from Jan. 13 to Feb. 5, nett inflows equaled $4.4 billion, portion the 2024 nett inflows for the archetypal 3 weeks equaled $1.6 billion.
The spot bitcoin ETFs were 1 of the astir palmy ETF launches of each time, and person accumulated implicit $40.6 cardinal successful full nett inflows. In the aforesaid time, BlackRock iShares Trust (IBIT) has seen a full of $40.7 cardinal successful nett inflows. While the full nett inflow for each 11 spot BTC ETFs is $40.6 billion, owed to Grayscale GBTC witnessing outflows of $21.9 billion.
To find whether these inflows bespeak a directional agelong presumption oregon are portion of a ground trade—where an capitalist goes agelong connected the underlying plus successful the spot marketplace portion simultaneously selling futures contracts erstwhile they commercialized astatine a premium to spot.
Currently, investors tin seizure a premium of astir 10%, which volition yet diminish arsenic the spot terms converges with the futures contract's expiry.
According to Glassnode data, the Chicago Mercantile Exchange (CME), the superior venue for specified trades, has seen a year-to-date diminution successful unfastened involvement from 180,099 BTC to 168,549 BTC, suggesting that these inflows are not chiefly driven by ground trading.
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