#美联储重启降息步伐 Bitcoin spot ETFs are showing another notable divergence in capital flows.

Yesterday’s data shows that the ETF market recorded a net inflow of nearly $60 million, marking the fifth consecutive trading day of net inflows. BlackRock’s IBIT absorbed $120 million in a single day, with its historical cumulative inflows surpassing the $62.6 billion mark. Fidelity’s FBTC also received over $20 million in additional funds.

However, ARK Invest’s ARKB showed a completely opposite trend—logging a single-day outflow of over $90 million. This divergence may indicate that strategic differences among institutional investors are widening.

Currently, the total assets under management for Bitcoin ETFs are approaching $120 billion, accounting for about 6.58% of Bitcoin’s total market capitalization. What does this ratio mean? Traditional financial institutions’ allocation to crypto assets is far beyond what most people imagine. Historical data shows that since these ETF products were launched, cumulative net inflows have reached $57.7 billion, and the long-term trend remains upward.

But there’s an easily overlooked detail: the continuous influx of large sums of money, while some products experience outflows, is usually not just simple buying and selling. More likely, some institutions are adjusting positions or switching products, while others are building positions within specific price ranges.

For ordinary investors, chasing short-term capital flows often backfires. In times of high market volatility, emotional decisions can easily lead to a vicious cycle of buying high and selling low. A more rational approach is to focus on long-term asset allocation logic, avoid being swayed by single-day data, and make decisions based on a thorough understanding of product mechanisms.

This has always been the rule in the crypto market—the information asymmetry is perpetual, and independent thinking is more important than blindly following the crowd.