According to The Kobeissi Letter, retail investors have purchased stocks at a record-breaking rate in 2025, with equity ETF net inflows reaching approximately $122 billion year-to-date. Goldman Sachs data reveals that since mid-March, individual investor inflows have doubled even as equity markets experienced a sell-off. This surge in retail participation signals heightened risk appetite and liquidity, potentially influencing correlated assets such as cryptocurrencies, which often respond to shifts in traditional equity flows (source: The Kobeissi Letter, May 19, 2025; Goldman Sachs). Crypto traders should monitor retail flows as a leading indicator for cross-asset sentiment and volatility.