ETFs

Why BlackRock Might Not Be Long Bitcoin, Despite ETF Inflows

Arthur Hayes says BlackRock’s biggest Bitcoin ETF holders aren’t bullish on BTC at all. Instead, they’re running a basis trade.

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Nov 18, 2025 - 01:00
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Why BlackRock Might Not Be Long Bitcoin, Despite ETF Inflows
Arthur Hayes says BlackRock’s biggest Bitcoin ETF holders aren’t bullish on BTC at all. Instead, they’re running a basis trade.
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