Coinbase Premium Index Shows Divergence Amid High ETF Inflows

The Coinbase Premium Index, which tracks the price difference between Coinbase Pro (USD pair) and Binance (USDT pair), has shown unusual behavior despite significant ETF inflows. Typically, a positive index indicates strong institutional and whale activity on Coinbase Pro. However, from October 11-13, despite ETF inflows totaling 253 and 556 million USD, the index did not turn positive.

This anomaly suggests that retail activity on Binance may be outpacing institutional buying on Coinbase Pro. Further data is needed, but continued ETF inflows with a negative index could indicate growing retail strength in the market.