ETF creations and redemptions, in a nutshell:
When U.S. spot Bitcoin and Ethereum ETFs first launched, they were only allowed to create and redeem shares in cash. In July 2025, the SEC approved in-kind creations and redemptions for crypto asset ETPs.
When the premium or discount becomes too large, authorized participants can arbitrage by creating or redeeming shares, helping bring the trading price back toward NAV.
When tracking ETF flows, look at the cumulative trend over several weeks. Large inflows or outflows on a single day may reflect portfolio rebalancing by individual institutions.
$BTC 81460.01（-1.82%）
#BTC
When U.S. spot Bitcoin and Ethereum ETFs first launched, they were only allowed to create and redeem shares in cash. In July 2025, the SEC approved in-kind creations and redemptions for crypto asset ETPs.
When the premium or discount becomes too large, authorized participants can arbitrage by creating or redeeming shares, helping bring the trading price back toward NAV.
When tracking ETF flows, look at the cumulative trend over several weeks. Large inflows or outflows on a single day may reflect portfolio rebalancing by individual institutions.
$BTC 81460.01（-1.82%）
#BTC