ETFs are serving up two more bowls of feel-good fluff
Yesterday, US spot ETFs poured $175.7 million into BTC: IBIT took in $65.9 million, and FBTC $103.1 million. ETH saw net inflows of $24.8 million, with Grayscale’s ETH fund alone taking in $16.7 million. Sounds encouraging, but it’s really just a few subscription orders—market makers can hedge those away in the futures market in no time.
These inflows aren’t enough to fuel a one-way rally. BTC’s short-term push toward its previous high will probably get knocked back by a liquidation wall. ETH looks more like old Grayscale money moving through the ETF channel to arbitrage; every pump will bring sellers out. High-beta alts like SOL can only wait and see how BTC is doing.
Bulls, if you’re jumping in now, are you planning to catch the ETFs’ bags or the market makers’ wick? Drop your entry price—I’ll save you a spot on the rooftop.
$BTC $ETH $SOL
Yesterday, US spot ETFs poured $175.7 million into BTC: IBIT took in $65.9 million, and FBTC $103.1 million. ETH saw net inflows of $24.8 million, with Grayscale’s ETH fund alone taking in $16.7 million. Sounds encouraging, but it’s really just a few subscription orders—market makers can hedge those away in the futures market in no time.
These inflows aren’t enough to fuel a one-way rally. BTC’s short-term push toward its previous high will probably get knocked back by a liquidation wall. ETH looks more like old Grayscale money moving through the ETF channel to arbitrage; every pump will bring sellers out. High-beta alts like SOL can only wait and see how BTC is doing.
Bulls, if you’re jumping in now, are you planning to catch the ETFs’ bags or the market makers’ wick? Drop your entry price—I’ll save you a spot on the rooftop.
$BTC $ETH $SOL