Bitcoin futures yields recalculated from Aug. 7 CME settlement data were above the U.S. two-year Treasury yield, challenging crypto analyst Marc Baumann's argument that they had stayed below that benchmark for 157 straight days. Baumann had put the futures yield at around 3% versus a 3.8% two-year yield, but CryptoSlate calculated annualized BTC futures yields at 7.89% for August, 6.25% for September and 5.69% for December, all above the 4.19% Treasury yield on the same date. Because Aug. 7 falls within Baumann's cited window, that observation alone undercuts the claim of an uninterrupted stretch below Treasuries. CryptoSlate added that venue, contract maturity and methodology can change the figures, and that actual cash-and-carry arbitrage profitability must account for transaction costs. Public data still does not show whether the broader $850 million Wall Street Bitcoin ETF buying wave cited earlier was directly tied to carry-trade demand.