Last Friday, the Bitcoin spot ETF bought a net of $494 million worth of Bitcoin, which looks very impressive, but most people think that BlackRock bought Bitcoin and held it, which is a mistake. The futures premium still exists, especially yesterday, it was hovering around $500.

BlackRock bought a net of 1,667 Bitcoins, and can cash out $830,000 through the CME futures market, making a steady profit.

In addition, the net inflow of Bitcoin in the entire market in the past 24 hours was negative $79 million, which means that in addition to the ETF fund purchases, the rest of the players sold a net of $400 million worth of Bitcoin. It doesn’t matter who these people are. What’s important is that they hyped up the emotions through the ETF’s buying and sold the goods at a high price!

It’s really smart!