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But we saved everything 🙂.
Jamie Coutts emphasizes the increasing dominance of ETF flows in the current market cycle, highlighting a slowdown in structural bids due to compressed mNAVs.
This shift has placed significant weight on ETF activities, with spot sovereign accumulation acting as an unpredictable element in the equation. Coutts points out the challenges in tracking sovereign movements, which could play a critical role in future market directions. The turnaround in ETFs after a rocky early September suggests that investors are closely watching these flows to gauge future cryptocurrency trends.