No Cash Flows, New Owners: Spot Bitcoin ETFs and the Origins of Co-movement

Study package

Everything a reader needs to check and rerun the study on their own computer, in one file kept by the authors on GitHub, as a file of a release (version 4). e2er.org records where it is and its fingerprint; it does not keep the file.

Download the study package (.e2er)spot-bitcoin-etf-comovement-v4.e2er · 1.3 MB

SHA-256

9dd4d53fc50a36b5c5bc3189efb6a31b5a622d771e2ddb806c69a6adfa553bac

Fingerprint

sha256:06820857210c2e140c3c9b0b785aaa8dd8d23a1cbba9912d5e5f356bbab3ead4
over the list of every file in the package with its SHA-256; e2er verify compares it with this page

Added

on 2026-11-01, after this version was published; e2er.org checked the file against the version first

With e2er installed (install; the review guide explains each step on Linux, macOS and Windows):

e2er fetch https://e2er.org/bhanneke/spot-bitcoin-etf-comovement
e2er inspect spot-bitcoin-etf-comovement-v4.e2er
e2er verify spot-bitcoin-etf-comovement-v4.e2er --against https://e2er.org/bhanneke/spot-bitcoin-etf-comovement
e2er reproduce spot-bitcoin-etf-comovement-v4.e2er

• e2er fetch downloads the file and checks its size and SHA-256 against this page; it runs nothing.
• e2er inspect shows what the file holds: title, authors, data, size and fingerprint.
• e2er verify checks every file, the numbers and the tables, and compares the package with this page.
• e2er reproduce runs the study’s code again and compares the results; it runs the code in a Docker container, with no network and no folder of yours.

Versions

Each version was published with its own dossier. This page shows version 4; the dossiers of earlier versions stay at their addresses and name the version that replaced them.

• ·Version 4 · 2026-10-22 · dossier 1606581708e0909b (shown here)
• ·Version 3 · 2026-10-21 · dossier 057929c26221ef80
• ·Version 2 · 2026-10-05 · dossier 37aca410ed871da5
• ·Version 1 · 2026-09-26 · dossier c46711b0dc073e96

Built with

The template, specialists, skills and connectors this version used, as its dossier names them, with the people credited for each.

Authors

• ·Björn Hanneke conceptualization, investigation

Discussion