Bitcoin ETF inflows leave institutional demand unclear: CoinShares
Crypto ETFs are seeing a strong inflow rebound, but the size of the flows does not clearly show how much comes from institutions versus retail. US crypto investment products took in about $4.1 billion in September, with BlackRock’s IBIT accounting for more than 53% of that. CoinShares says ETF inflows can reflect arbitrage strategies, especially the Bitcoin basis trade, not just bullish bets. IBIT may be a key signal because many institutions use it for that trade, and the current yield is around 6%. Recent data showed September inflows reached about $4.44 billion in US products and $4.53 billion globally, led by Bitcoin and Ether. Interest is also rotating into crypto-related equities and businesses tied to tokenization, payments, and trading infrastructure.
