ChainCatcher news, according to CoinDesk, despite the record high inflows of US-listed Bitcoin spot ETFs, Bitcoin spot prices continue to fluctuate in a narrow range. ETF inflows appear to be part of non-directional cash and arbitrage strategies and do not necessarily represent outright bullish bets.
Anonymous market observer CMS Holdings said on X: "The entity buys ETFs and sells 'CME' futures to reduce the basis of some major markets, allowing the entity to realize net profits, which is why ETF inflows are high, but the spot is relatively unchanged."
It is reported that this strategy is often called cash arbitrage, which aims to profit from the premium of the futures market relative to the spot market.
