Odaily Planet Daily News: Coinbase research director David Duong stated that recent claims about the 'largest short position in ETH history' are greatly exaggerated. He pointed out that net inflows for Ethereum spot ETFs reached $1.16 billion in June, while short positions for leveraged funds on Ethereum futures at the Chicago Mercantile Exchange (CME) increased from $466 million in early May to $1.6 billion on June 24, which is consistent with ETF fund inflows. Duong explained that this phenomenon is mainly driven by basis trading. As the basis yield of CME Ethereum futures compared to the spot market rose from an average of 6% in February to 8%-9% in May and June, more institutions were attracted to participate in arbitrage by buying spot and selling futures, which does not indicate a pessimistic outlook on ETH.

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