Matrixport: Bitcoin ETF saw a record outflow of funds in February, current ETF selling pressure may have stopped
Odaily Planet Daily reports that Matrixport released a chart today stating that since the launch of Bitcoin ETF in January 2024, the scale of fund outflows this month has reached a historical high, possibly due to hedge funds closing basis trades (long ETF versus short futures). This trend coincides with the decrease of $8 billion in open contracts for Bitcoin futures on the Chicago Mercantile Exchange (CME) since the Federal Reserve FOMC meeting in December 2024, a drop exceeding 20% of total ETF inflows.
This round of selling pressure may be related to the expiration and delivery of February futures contracts, but this factor has now been digested. As its impact fades, hedge funds may reduce their sales of ETFs and reassess arbitrage spreads in late March. At present, it seems that ETF selling pressure has temporarily stopped.
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