Analysis · Nov 2, 2026 15:07 UTC

spot ETFs is overpricing retail participation

Risk is easiest to ignore precisely when it is most expensive.

Put beside current chatter on “OKX draws $445M in net inflows as Binance outflows exceed $7B,” the incentive problem looks clearer.

A clean chart can hide a crowded trade.

The healthier setup is alignment: stablecoin settlement improving while cross-exchange spreads stays orderly.

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