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Key Takeaways:
Bybit data shows INS still favors BTC over ETF despite Ethereum ETF approval.
The market may have underestimated the impact of Q1’s 13F disclosures
TradFi institutions could continue to accumulate Bitcoin ETFs in the coming quarters.
Ether Spot ETFs may push the BTC-ETH ratio to bottom out, but are unlikely to reverse the trend in the near term.