According to Eric Balchunas, Vanguard has captured 63% of net ETF flows since 'Liberation Day' on April 2, 2025, maintaining steady inflows even as competitors experienced declines (source: Eric Balchunas Twitter, May 6, 2025). For traders, this signals that traditional market participants are seeking stability through low-cost index ETFs during volatile periods, potentially reducing immediate capital rotation into higher-risk assets like cryptocurrencies. However, Vanguard’s ability to retain inflows in rocky conditions can indicate risk-off sentiment, which often correlates with dampened short-term crypto inflows and increased volatility. Monitoring ETF flow trends alongside crypto trading volumes is recommended to anticipate cross-market liquidity shifts.