Data: The top 80 holders of US Bitcoin ETFs are from hedge funds

Data provided by MV Capital partner Tom Dunleavy shows that the top 80 holders of Bitcoin ETFs in the United States are from hedge funds, whose capital comes from various institutions and individual investors. According to Farside Investors data, these 80 companies hold a total of approximately $10.26 billion worth of spot Bitcoin ETF shares, accounting for approximately two-thirds of the $15.42 billion in net inflows since the launch of the spot Bitcoin ETF on January 11. Real Vision CEO Raoul Pal believes that Bitcoin ETF flows may come from arbitrage trading, and retail investors are not yet the key driving factor. Crypto trader Joseph B. pointed out that recent inflows can be attributed to basis trading, but as an overall figure, basis trading accounts for less than 15% of the total flow of Bitcoin ETFs. (Cointelegraph)