Bitcoin ETF capital inflow slows down, with the main reason being the narrowing of the basis

MarsBitNews · 2026-02-11T06:45:10+00:00

Matrixport analysis indicates that the inflow of funds into Bitcoin ETFs is slowing down due to narrowing market basis and low retail investor participation. The Korean market shows insufficient retail buying demand, leading to a lack of incremental buy support, which restricts ETF fund inflows and consequently prolongs the consolidation phase.

MarsBitNews

2026-02-11 06:45:10

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Mars Finance reports that Matrixport’s analysis indicates the inflow of funds into Bitcoin ETFs has significantly slowed down, primarily due to the narrowing of the market basis. The report points out that retail participation remains subdued, and trading volume data from the South Korean crypto market shows that retail buying demand is not prominent. Due to the lack of incremental buying support, the funding rate for perpetual contracts has remained low for a long time, which compresses the profit potential of basis trading (cash-and-carry arbitrage), thereby limiting the inflow of incremental funds into Bitcoin ETFs. Analysts believe this confirms the March 2024 assessment: without retail-driven spot-futures spread movement, institutional capital allocation cannot accelerate, leading to an extended consolidation phase.

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