Golden Finance reported that despite the historical high inflow of spot Bitcoin ETF listed in the United States, the spot price of Bitcoin continues to fluctuate in a narrow range. The ETF inflow seems to be part of non-directional cash and arbitrage strategies, and does not necessarily represent a complete bullish bet.

Anonymous market observer CMS Holdings said on X: "Buying ETFs and selling CME futures entities, to reduce the basis of some major markets, so that entities can achieve net profit, which is also why the ETF inflow is high, but the spot market has not changed much."
This strategy is commonly known as cash arbitrage, which aims to profit from the premium of the futures market relative to the spot market. #币圈观察员