#BTC Reserve Market Impact

The digital asset market is shifting towards institutional participation, with active strategies outperforming passive strategies. Significant capital inflows have been observed in the US spot Bitcoin and Ethereum ETFs, with net inflows exceeding $1 billion in mid-August, led by BlackRock's ETHA and Fidelity's FETH. The Chicago Mercantile Exchange (CME) Bitcoin futures open interest has reached a record of approximately $57 billion, while cryptocurrency derivatives currently account for 70-80% of global volume. Active fund managers are leveraging credit spreads, basis trading, and volatility arbitrage, emphasizing tactical allocation in a diversified and structurally evolving market.