Matrixport: The current selling pressure on ETFs seems to have paused, and hedge funds may reassess arbitrage opportunities in late March

2025-03-03 15:35:03

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ChainCatcher message, Matrixport analysis indicates that since the launch of the Bitcoin ETF in January 2024, the outflow of funds this month has reached a new high, which may be related to hedge funds closing basis trades (going long on ETFs and shorting futures). This trend is consistent with the reduction of $8 billion in open contracts for Bitcoin futures on the CME after the Federal Reserve's FOMC meeting in December 2024, which exceeds the total inflow of funds into ETFs by 20%.

Additionally, the expiration of February futures contracts may also be a source of selling pressure, but this factor has currently been absorbed by the market. Matrixport believes that as the impact gradually weakens, hedge funds may reduce ETF sell-offs and reassess arbitrage opportunities in late March. At present, ETF selling pressure seems to have temporarily halted.

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ETF selling pressure hedge funds

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