U.S.-listed spot bitcoin (BTC) exchange-traded funds (ETFs) have seen a 175% year-over-year increase in almost the first three weeks of trading. In 2025, from Jan. 13 to Feb. 5, net inflows equaled $4.4 billion, while the 2024 net inflows for the first three weeks equaled $1.6 billion.
The spot bitcoin ETFs were one of the most successful ETF launches of all time, and have accumulated over $40.6 billion in total net inflows. In the same time, BlackRock iShares Trust (IBIT) has seen a total of $40.7 billion in net inflows. While the total net inflow for all 11 spot BTC ETFs is $40.6 billion, due to Grayscale GBTC witnessing outflows of $21.9 billion.
To determine whether these inflows reflect a directional long position or are part of a basis trade—where an investor goes long on the underlying asset in the spot market while simultaneously selling futures contracts when they trade at a premium to spot.
Currently, investors can capture a premium of approximately 10%, which will eventually diminish as the spot price converges with the futures contract’s expiry.
According to Glassnode data, the Chicago Mercantile Exchange (CME), the primary venue for such trades, has seen a year-to-date decline in open interest from 180,099 BTC to 168,549 BTC, suggesting that these inflows are not primarily driven by basis trading.
Asheesh Birla, the CEO of Evernorth Holdings Inc., revealed why the Nasdaq-listed digital asset treasury…
The RWA market is evolving rapidly, according to a new report shared today by institutional…
Ripple-linked XRP may be one of the biggest names in the cryptoverse today, but its…
The debate over whether Bitcoin’s hashing algorithm can be hacked continues to evolve. This time,…
The Cardano Foundation has urged the European Commission not to broaden the Markets in Crypto-Assets…
Matt Crosby, a research director at Look Into Bitcoin, said in a recent interview that…