According to @Psarogis, ETF liquidity is becoming more dispersed while assets under management (AUM) are concentrating in top funds like VOO. Data shows that the trading volume share among the ten largest ETFs is spreading out, which can improve market efficiency and reduce execution risk for traders. Meanwhile, asset concentration in funds such as VOO indicates investor preference for low-cost, broad-market exposure. For cryptocurrency traders, these structural shifts in ETF markets may signal evolving investor risk appetites and could impact crypto market flows as traditional and digital assets compete for capital. Source: @Psarogis, Twitter.