Billions of dollars are swept away in US-Listed spot bitcoin
In recent weeks, the exchange-traded funds (ETF), as Cryptocurrency expelled a sharp recovery rally from $ 75,000 to $ 100,000.
Data analysis suggests that most investment is operated by bold, strategic rapid directional stakes rather than market-plated mediated plays.
According to the data source, with an additional $ 2.64 billion in this month, 11 spot ETFs attracted the investor money in April to $ 2.97 billion. SosowaluIt has increased the net flow since the installation in January 2024, which has exceeded $ 41 billion.
Institutions have historically used these ETFs to install non-directional mediation plays to benefit from price discrepancies between futures and spot bitcoin markets. The so -called cash and carry arbitrage involves purchasing ETFs, while simultaneously to sell the futures premium in the pocket, bypassing the price direction risks to sell the CME futures.
But from the beginning of April, the reception seems to be rapidly inspired by directional stakes and not with mediation plays. It is reflected in the commitment of Traders (COT) report published by Commodities Futures Trading Commission (CFTC) every week.
The data includes leveraged funds, usually hedge funds and a variety of money managers, including registered commodity trading advisors, pruning their net shorts for 14,139 contracts in early April for 14,139 contracts, according to the data tracked according to the data track, according to the data tracked according to the data tracked by 14,139 contracts, according to data Tradingster,
If the trades had mainly operated the pure flow, the number of shorts would have increased.
“CFTC data suggests that leveraged funds have not greatly increased the small position, indicating that most flows were directional bets, not mediation,” Imran Lakh, the founder of the option Insight, in a blog post published on Derribits.
Changes in the nature of flow in ETFs suggest that big players are using ETFs to express a clear market approach on the future direction of bitcoin.
According to CONDESK data, Bitcoin changed hands at the press time at $ 102,700.
