The Milk Road Show Bitcoin Crash? ETF Flows Tell a Very Different Story w/ James Seyffart
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Jan 20, 2026 James Seyffart, a Senior ETF analyst at Bloomberg Intelligence, delves into the nuanced world of Bitcoin and ETF flows. He explains that during market downturns, ETF investors often buy the dip rather than panic sell, highlighting their calm amidst volatility. James discusses who utilizes crypto ETFs—mainly advisors and asset allocators—and how the growing number of ETF filings reflect institutional interest. He also touches on the discrepancies in performance between Bitcoin and Ethereum ETFs, and the influx of new products in the market.
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Flows And Basis Beat Price Noise
- ETF flows and futures basis reveal the real market signal beyond noisy price moves.
- James Seyffart watches futures, flows, spreads, and basis to gauge true market action.
ETFs Often Buy The Dip
- ETF investors tend to buy the dip rather than panic-sell during big down days.
- ETFs acted as a stabilizing ballast because many buyers are long-term advisors and allocators.
Use ETFs For Stable Allocations
- Expect advisors to maintain target allocations and rebalance into dips rather than flee.
- Use ETF basket products to get diversified crypto exposure without picking single altcoins.