According to The Kobeissi Letter, US equity ETFs have attracted a record 400 billion dollars over the last three months, doubling since August 2025 and exceeding the April 2021 high by 177 billion dollars, source: The Kobeissi Letter. According to The Kobeissi Letter, January inflows are running at five times the historical average for these funds, highlighting exceptional demand for equity exposure, source: The Kobeissi Letter. For crypto traders, periods of strong equity participation have coincided with higher cross-market co-movement; the IMF documented a notable rise in Bitcoin–equity correlation during 2020–2021, suggesting equity-driven liquidity can transmit to digital assets, source: IMF.