No Cash Flows, New Owners: Spot Bitcoin ETFs and the Origins of Co-movement
By Björn Hanneke
Did the January 2024 approval of US spot Bitcoin ETFs change the co-movement between Bitcoin returns and US equity returns?
Read the paper (PDF) Browse the files Dossier a695938bfa200904 data public (github.com/ada/demos/tree/b8c44b8ac8ac2be247884dff5b3ff21a27e804e6/studies/who/data) · code public (github.com/ada/demos/tree/b8c44b8ac8ac2be247884dff5b3ff21a27e804e6/studies/who/code)
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- ✓citations 33 cite key(s) resolve in refs.bib; snapshot: 33 verified, 0 unverifiable at run time
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- ✓numbers 290 table cell(s) are source values at the precision shown; 48 coefficient(s) checked, 0 inconsistent; text (not gating): 250 of 251 number(s) are source values, 1 differ from the quantity named nearby, 0 untraced
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- ✓spec estimation implements the declared identification
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40 named with their SHA-256 fingerprint; left out under their sources' terms (e2er reproduce loads them again): data/data.db - References
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- e2er
- version 0.8.2 · template empirical
- AI
- Claude Sonnet 4.5 via Claude Code
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- ·Version 1 · 2026-10-20 · dossier a695938bfa200904 (shown here)
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Authors
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