According to @psarofagis, $BIL has significantly outperformed $AGG over the past five and ten years, offering similar yields with less risk, as confirmed by increasing fund flows into $BIL (source: Eric Balchunas on Twitter, May 7, 2025). With current interest rates, traders are shifting from $AGG to $BIL for fixed-income exposure in 60/40 portfolios. This defensive move reduces risk and liquidity concerns, which can drive more capital into risk assets, including cryptocurrencies, as traditional bond allocations become less attractive. Crypto traders should watch for increased flows into crypto as investors seek higher returns outside traditional fixed income.