BlockBeats News, February 18 — According to the crypto research firm 10X Research, despite Bitcoin’s price dropping 46% from its peak, Bitcoin ETFs only experienced net outflows of $8.5 billion, which is a relatively moderate decrease relative to the total ETF assets. The structural characteristics of ETF ownership show that market makers and hedge funds focused on arbitrage are dominant, holding mostly hedged or market-neutral positions rather than directional bets on Bitcoin. Additionally, long-term institutional investors with higher holdings have low turnover rates and longer investment horizons.
Based on the latest Q4 2025 13F filing data, it is estimated that of the $61 billion assets under IBIT, a subsidiary of BlackRock, 55–75% are still held by market makers and hedge funds focused on arbitrage. In Q4 2025, during Bitcoin’s consolidation around $88,000, market makers reduced their exposure by approximately $1.6–2.4 billion, reflecting decreased speculative demand and reduced arbitrage activity.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Last week, Bitcoin spot ETF experienced a net inflow of $95.18 million, marking four consecutive weeks of net inflows.
Last week, Bitcoin spot ETF net inflows reached $95.18 million, marking four consecutive weeks of growth. Among them, BlackRock's IBIT had the largest inflows at $191 million, with a total net inflow of $63.26 billion. Fidelity's FBTC experienced net outflows of $50.07 million. In terms of total assets, the current net asset value of Bitcoin spot ETFs is $90.3 billion.
GateNews8m ago
The crypto market is widely declining, with BTC breaking below $68,000, while AI and Meme sectors rally against the trend with gains exceeding 3%
On March 23, the crypto market experienced widespread declines, with Bitcoin and Ethereum falling 1.42% and 1.78% respectively. The RWA sector suffered a significant drop of 4.85%, while AI and Meme sectors bucked the trend with gains of 10.36% and 3.66% respectively. Other sectors showed mixed performance, with overall market sentiment remaining weak.
GateNews52m ago
Michael Saylor Signals Continued Bitcoin Accumulation as Funding Strategy Shifts Toward STRC Preferred Stock
Strategy Executive Chairman Michael Saylor posted on March 22, 2026, that "The Orange March Continues," signaling the company's ongoing Bitcoin accumulation as total holdings reached 761,068 BTC valued at approximately $52.36 billion with an average acquisition cost of $75,696 per coin.
CryptopulseElite56m ago
BTC rises 0.61% in 15 minutes: Whale fund inflows superimposed with futures premium resonance driving
Between 2026-03-23 02:15 and 2026-03-23 02:30 (UTC), BTC yield recorded +0.61%, with prices fluctuating between 67807.1 and 68304.9 USDT, representing a volatility of 0.73%. During this short-term volatility period, market trading activity was robust, with enhanced linkage between spot and futures markets, and sustained volume increase in core trading zones, attracting market attention.
The primary driver of this volatility was significant capital inflow from on-chain whale wallets to exchanges during the window period, with approximately 17,184 BTC flowing in within a short timeframe, marking a new monthly high. M
GateNews1h ago
Bitcoin Falls Below $69,000, Derivatives Market Shifts to Defense, Downside Risks Intensify
10x Research analysis points out that Bitcoin has broken below $69,000, marking a shift in market structure. Traders have significantly adjusted positions, with increased futures liquidations and negative funding rates. Options capital flows are moving toward downside protection, signaling hedging demand against downside risks. Meanwhile, market expectations regarding rate increases are diverging from the Federal Reserve's rate-cutting guidance, which could impact risk asset performance.
GateNews1h ago
