Semiconductor ETFs Outdraw Bitcoin and Ethereum Funds as AI Capex Trade Accelerates

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Semiconductor ETFs absorbed about $3.2 billion in net retail buying since January 2025, outpacing individual crypto ETF flows as investors chased the AI capex trade. The Kobeissi Letter, citing J.P. Morgan equity strategy data through April 29, said hyperscalers guided $600 billion to $720 billion of 2026 capital expenditures, with about 75% aimed at AI infrastructure. Bitcoin spot funds drew near $2 billion in April inflows, while Ethereum products posted weaker or negative numbers.

BTC2.54%
ETH3.53%
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