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Hedge funds cut 68,000 BTC in spot Bitcoin ETFs as futures basis shrinks, while wealth and sovereign funds buy.

28 Oct 2026, 19:15 WIB
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Hedge funds cut 68,000 BTC in spot Bitcoin ETFs as futures basis shrinks, while wealth and sovereign funds buy.

Several major hedge funds and banks sold 68,000 BTC worth of spot Bitcoin ETFs, driven by a shrinking futures basis rather than a loss of confidence in Bitcoin. Meanwhile, wealth management arms and sovereign funds, including Morgan Stanley’s wealth unit and Abu Dhabi’s Mubadala, increased their holdings. The futures basis—the profit gap between spot ETFs and futures—has narrowed, reducing the appeal of the cash-and-carry trade that many sellers used. Despite a 14% drop in institutional spot ETF holdings from September 2025 to June 2026, other investors added about 20,000 BTC, signaling mixed but active institutional interest going forward.

Bitcoin ETFs and institutional flows provide context for cryptocurrency trading, with 35 of 50 major cryptocurrencies on Pluang rising today. Notable movers include EGLD (MultiversX) at Rp61.081 with a 2.37% increase and 100% buy order activity, KSM (Kusama) at Rp67.672 down 2.34% but still 100% buy orders, and SAND (The Sandbox) at Rp875 up 2.31% with 98% buy orders. This data is as of Oct 28, 2026, 23:22 WIB.

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