US crypto investment products attracted approximately $4.44 billion in September, with BlackRock’s iShares Bitcoin Trust (IBIT) accounting for over 53% of those inflows. CoinShares notes that ETF inflows do not necessarily reflect bets on rising Bitcoin prices, as many institutional investors use IBIT for the basis trade, an arbitrage strategy between spot and futures prices. This operation offered an attractive yield of 6% in September. Total flows to Bitcoin products reached $2.84 billion, followed by Ether at $946 million and Zcash at $284 million.
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