btc etfs saw a net outflow of $325.7m today, breaking a streak of inflows at just one day of outflow. the 5-day total sits at negative $1.72b, while total aum is $75.1b with cumulative inflows since launch at $53.9b. for this trend to flip, we’d need to see a sustained drop in realized volatility below the 30-day average, which would make the carry trade less punishing. more at falsifylab.com #BTCFlow #FundingArb #PerpFunding $BTC

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Originally published on FalsifyLab Substack.