# etf flows

Bitcoin’s ascent to $122,000 with a $124 billion October market-cap gain is being driven by ETFs and methodical accumulation rather than retail euphoria. Claims of an Ethereum supply squeeze are meeting data-backed pushback, while demands for non-KYC ramps and trustless BTC–ETH swaps expose ongoing liquidity and custody frictions.

Crypto held firm after the Federal Reserve’s rate cut, suggesting policy moves are largely priced in. Diverging ETF flows—Bitcoin inflows versus Ether outflows—plus a new corporate treasury allocation to BTC, ETH, and SOL highlight selective institutional uptake amid skeptical sentiment.