Matt Hougan says you may need to cut Bitcoin ETF inflows in half to find the real demand
So I think that’s a piece of it, the other piece that’s not that interesting to investors is hedge funds coming back into the market because the basis has expanded. Basis was sub-Treasury level for a long time, that’s the premium people pay on futures. Now it’s not. Now it’s 6, 7, 8%. You can make real money in the basis trade. We see inflows from the hedge fund community. But there is this long-only bid coming into the market as well, from financial advisors, from retail, I think that part of the market is real. I would just say, when you look at the flows, you might want to cut it in something like half to get to the long-term demand. The other half is sort of this technical demand, from in-kind and hedge fund money.
#Bitcoin #ETFs #Markets #Crypto #Flows
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