PropMarketCapFRESHInstitutional players and funds
Hedge funds and banks withdrew 68,000 BTC from spot Bitcoin ETFs: arbitrage stopped paying
Galaxy Research analyzed the filings of major managers: nine hedge funds and banks cut their positions in U.S. spot Bitcoin ETFs by 68,000 BTC - about $5.4 billion. The reason is not a bet against the market, but that the arbitrage scheme has almost stopped generating income.