CryptoMedium•12 November 2026•
1 min read
Hedge Funds Unwind Bitcoin Basis Trade as CME Net Shorts Plunge 89%
Key Facts
1Hedge fund net short positions on CME fell by 89% as basis trades are being unwound.
Hedge fund net short positions on the CME fell by 89% as institutional investors unwound Bitcoin basis trades. Crypto Briefing reported that the narrowing gap between spot and futures prices has made these arbitrage strategies less profitable, leading funds to close out their positions.
CME Group Inc shares closed at $315.87 on November 11, 2026, having traded between a low of $308.26 and a high of $316.27 during the session. This structural market shift suggests that future Bitcoin ETF flow data will more accurately represent retail and institutional demand rather than being skewed by arbitrage-driven activity.