Spot Bitcoin ETF Net Flows Measure Fund Additions, Not Price

This is a useful corrective to a common misreading of ETF flow data, which is often cited as if it directly drove bitcoin's price. The distinction matters most for the growing cohort of readers and commentators who treat daily flow prints as a directional signal, when the metric only captures fund-level capital movement. Whether flow data continues to be framed as a proxy for price direction, rather than one input among many, is the open question worth watching.