CoinShares: Bitcoin ETF inflows don't reveal true institutional demand
- —US crypto investment products drew $4.44 billion in September versus $4.53 billion globally
- —BlackRock's IBIT accounted for more than 53% of September inflows
- —Top inflows: BTC at $2.84 billion, ETH at $946 million, ZEC at $284 million
- —Bitcoin basis trade yields are currently around 6%
Why it matters: ETF inflows can't be read as a clean signal of institutional optimism, since much of the flow reflects basis arbitrage rather than directional bets.
Source: CryptoHamster