Появились признаки восстановления ETF на BTC и ETH, снижение рисков, возможно, достигло дна

【Block Rhythm】There’s an interesting signal worth paying attention to: Bitcoin and Ethereum ETFs seem to be stabilizing.

In December last year, the entire crypto market did experience a round of capital outflows, with both BTC and ETH ETFs seeing money flowing out, but during the same period, global stock ETFs attracted $235 billion, forming a stark contrast. However, after entering January this year, the situation began to reverse.

From the data, the capital flows of BTC and ETH ETFs have shown signs of bottoming out. Open interest data from perpetual contracts and CME futures are also improving, indicating that selling pressure is gradually easing. The collective position reduction by both institutions and retail investors in the fourth quarter of last year now appears to have largely concluded.

Additionally, there’s another detail worth noting — MSCI decided in its February index review to temporarily retain BTC and related crypto reserve companies’ index positions, which to some extent gave the market a reassurance.

Conversely, what actually triggered that adjustment wave last year wasn’t really a liquidity crisis, but rather MSCI’s October 10th statement regarding a leading company’s index position, which triggered a chain reaction of risk liquidations. Current signs indicate that this process has basically run its course. In other words, that wave of panic-driven position reductions should be bottoming out now.