The ETF inflows illusion is worse than most realize. Institutional money isn't HODLing - it's hedged, leveraged, and ready to exit. ETF Bitcoin isn't removed from circulation the way self-custody is. We're celebrating paper claims while diluting the scarcity narrative.
The ETF inflows illusion is worse than most realize. Institutional money isn't HODLing - it's hedged, leveraged, and ready to exit. ETF Bitcoin isn't removed from circulation the way self-custody is. We're celebrating paper claims while diluting the scarcity narrative.