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@chevapchevapovic
The recent slowdown in Bitcoin ETF selling isnāt driven by Trumpās crypto reserve plan but rather shifting market dynamics. Spot Bitcoin exchange-traded funds saw their largest outflows since launching in January 2024. For now, the selling pressure may be easing, though not necessarily due to President Donald Trumpās statement on a strategic crypto reserve, but seemingly because hedge funds unwound basis trades, analysts at Matrixport suggest. In an X post on March 3, the analysts suggested that hedge funds likely triggered the sell-off by unwinding basis trades, which aligns with the $8 billion drop in CME open interest since the December 2024 FOMC meeting, accounting for over 20% of total ETF inflows.
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