The bulk, about 56%, is probably associated with arbitrage strategies as per 10x Research.
This indicates that there is much less of a need for Bitcoin in multi-asset portfolios for the long run.
Among Bitcoin exchange-traded funds, arbitrage methods have been the norm, with just 44% of inflows being linked to long-term investments, according to a crypto research firm, 10x Research.
Since their introduction in January 2024, spot Bitcoin ETFs in the US have seen net inflows of around $39 billion. But according to 10x Research’s director of research Markus Thielen, only $17.5 billion—less than half—represents genuine long-only purchasing.
Arbitrage Opportunities
The bulk, about 56%, is probably associated with arbitrage strategies, he said. Further mentioning the “carry trade” in which traders purchase spot Bitcoin via ETFs. While simultaneously shorting Bitcoin futures in order to profit from the spread between the two prices.
According to Thielen, this indicat
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