The U.S.-listed spot bitcoin (BTC) exchange-traded funds (ETFs) saw billions in outflows in recent weeks amid a 35% price plunge from $125,000 to the low $80,000s, sparking talk of institutional capitulation. Yet data analysis by Amberdata presents a far more nuanced picture: concentrated redemptions from "basis trade," or arbitrage bets closures, not broad panic across ETFs, with total holdings staying robust at 1.43 million BTC. "Nearly $4 billion in Bitcoin ETF outflows since mid-October. Price collap ...

The Bank of England warns about growing risks from a profitable hedge fund strategy known as the basis trade https://t.co/hVGYsjHzEc ...

Hedge fund are piling on $ETH short positions on the CME exchange as they continue to capitalize on the basis trade, yielding up to 9.5%. By @oknightcrypto.https://t.co/71b2Kwe4fd ...