The integration of regulated spot ETFs into traditional portfolio management has altered price discovery mechanisms across major digital assets. Institutional trading volumes now account for over 70% of spot turnover on primary regulated venues, mitigating historical retail-driven leverage cycles.
Yield Compression in Spreads
Basis trades between spot and futures contracts have compressed to historical lows as market liquidity deepens. Prime brokerages are responding by expanding collateral acceptance criteria to include tokenized real-world assets.