On FinX there have been quite a bit of posts claiming the iShares Bitcoin Spot ETF has the most inflows amoung the ETFs and from what I have looked at, it does have the lowest fees - but I think I found the reason.
You can actually short IBIT on Fidelity.
I'm really confused about this and it makes me wonder how much of the ETF inflow statistics being posted on a daily basis are based in reality and how much of the ETF inflows are just synthetic margin? Also, is this even legal for Fidelity to allow me to short IBIT? I thought the SEC had a pretty strict rule on the Spot Bitcoin ETFs where you could not short them for fear of market manipulation - because up until now the only real reliable game in town to short was BITO. XBTF was ok but too bouncy to get good cover prices.
So are they totally just fudging those claims of X millions in inflows if around 5.5 million shares of IBIT are marginable?
Wouldn't this mean that $220 million of those ETF inflows is just bogus and synthetic?
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