Real Vision founder: The majority of BTCETF volume comes from short-term Arbitrage operations by Hedging funds

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BlockBeats news, on October 18th, Raoul Pal, former Goldman Sachs executive and founder of macro research firm Real Vision, posted on social media, saying, 'One day, people will realize that the largest users of BTC ETF and most of the volume come from Hedging funds, which engage in Arbitrage between Spot, Futures, and Perptual Futures. The main inflow of funds is not directional, only marginally impactful.' Raoul Pal believes that the majority of funds flowing into BTC ETF are not based on investors betting on the long-term rise and fall of BTC (i.e., directional investment). Instead, these funds mainly come from Hedging funds using ETF for short-term Arbitrage, aiming to profit from price differentials rather than relying on the price movement of BTC itself, and most activities do not reflect the broader market sentiment towards BTCPA.

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