Bitfinex Alpha: ETH ETF Inflows Outpace Bitcoin as Traders Use ETF Positions as Collateral for CME...

Bitfinex Alpha: ETH ETF Inflows Outpace Bitcoin as Traders Use ETF Positions as Collateral for CME Futures Yield StrategiesBitfinex Alpha said traders are building positions in spot Ethereum ETFs to use as collateral for CME futures trades and generate yield, helping explain the stronger relative demand for ETH ETF products. Ethereum ETFs recorded $196.9 million in net inflows last week and $324.4 million so far in September, exceeding Bitcoin ETFs’ $307.3 million despite having only about one-sixth of their assets. Bitcoin ETFs posted $462.7 million in net outflows across all four trading days last week, reversing from a major source of institutional demand to a net seller. Bitfinex expects ETH to hold the September 11 daily low of $2,432 as support on pullbacks.

Source: Wu Blockchain