Guide explains what US spot bitcoin ETF net flows measure and their limits
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The Defiant's explainer sets out how to read net flows for US spot bitcoin ETFs, defined as creations less redemptions in fund capital. It stresses that net flows exclude secondary-market share trading and mark-to-market changes in asset value, and so cannot on their own explain bitcoin's price. No specific figures or dates are given in the excerpt.
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The Defiant