According to Eric Balchunas, US ETF flows have reached $400 billion so far in 2024, averaging a remarkable $4.4 billion per day. Nearly half of these inflows are directed at US equities, with $VOO alone pulling in $60 billion and projected to hit $164 billion by year-end, 60% ahead of last year's record (source: Eric Balchunas on Twitter, May 15, 2025). This substantial capital allocation to traditional equities signals strong investor confidence in traditional markets, potentially diverting liquidity from cryptocurrencies and impacting short-term crypto market sentiment.