Retail investors are not a “key driver” of spot Bitcoin ETFs, with a majority of inflows coming from arbitrage trading hedge funds, according to Raoul Pal.
‘Vast majority’ of ETF flows could be driven by arbitrage — Raoul Pal
![‘Vast majority’ of ETF flows could be driven by arbitrage — Raoul Pal ‘Vast majority’ of ETF flows could be driven by arbitrage — Raoul Pal](https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjQtMDYvNzdiNDEwMDctMjE3NC00YzVmLWJkOTAtMTU3OTA2MWQ5YjE0LmpwZw==.jpg)
Retail investors are not a “key driver” of spot Bitcoin ETFs, with a majority of inflows coming from arbitrage trading hedge funds, according to Raoul Pal.