$Over the past several months, institutional balance-sheet flows appear to have completed a full reset. Following a prolonged period of heavy outflows across spot ETFs, corporates, and sovereign holders, net flows have now stabilized. This stabilization is an important signal, as it suggests that the majority of sell-side pressure from long-term, structurally positioned holders has largely played out. In other words, the investors who needed to exit have already done so.

What stands out now is the behavior of spot ETFs, which are once again starting to lead the shift in flows. After months of persistent outflows, ETFs have moved back into positive net inflows and are reclaiming their role as the primary marginal buyer in the market. Historically, sustained ETF inflows have accompanied every major expansion phase, acting as a reliable confirmation of broader trend strength. The return of ETF demand at this stage suggests that real-money allocators are cautiously rebuilding exposure with a longer-term view, rather than engaging in short-term volatility trades. This shift in flow dynamics points toward a healthier and more durable market structure going forward.# @tradarguide