Over a billion flows into bitcoin ETFs, yet the price isn’t rising — an analyst explains why

Bitfinex analyst argue that ETF inflows can be misread as immediate spot demand. What to know : U.S.-listed spot bitcoin ETFs have attracted about $1.4 billion in inflows over the past five days, even as bitcoin's price has remained largely unchanged. Bitfinex analysts argue that ETF inflows can be misread as immediate spot demand because authorized participants often create and short ETF shares before buying the underlying bitcoin, delaying real spot-market purchases.