Real Vision CEO: About two-thirds of the net inflows into Bitcoin spot ETFs come from arbitrage trading

ChainCatcher news, according to Cointelegraph, Real Vision CEO Raoul Pal stated that about two-thirds of the net inflows for Bitcoin spot ETFs may come from arbitrage trading.

Data shows that the "top 80 holders" of U.S. Bitcoin ETFs are hedge funds, with funds coming from various institutions and individual investors.

Raoul Pal said, "If this is correct, it indicates that the vast majority of ETF flows are just arbitrageurs, and retail is not yet a key driver."