André Dragosch estimates that a $40 billion net inflow into global bitcoin ETPs has historically aligned with roughly 100% performance, while noting ongoing capital rotation potential from semiconductor ETFs amid AI trade consolidation.

André Dragosch reports Bitcoin ETPs have drawn more capital than gold ETPs in 2026, highlighting roughly $40 billion in potential inflows from semiconductor ETFs if the AI trade consolidates.

Bitcoin ETFs post $12B outflows since April as retail capital shifts to semiconductor ETFs with $20B inflows; $IBIT down 12% while $SOXX surges 81%.