Bitcoin and Ethereum ETFs: A Comedy of Errors and Outflows! 😂

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Well, darlings, after a rather dreary eight-day stretch of net outflows that could make even the most stoic of investors weep, our dear spot Bitcoin ETFs finally decided to show a smidgen of mercy on Friday. How positively delightful! 🎉

But alas, the Ethereum counterparts seem to be auditioning for a tragic play, extending their woeful streak to a staggering seven days. One might say they’re in a bit of a pickle, wouldn’t you agree? 🥒

BTC ETFs: A Dreadful Affair with a Pinch of Positivity

February, my friends, was not kind to our US-based spot Bitcoin ETFs. It turned out to be the worst month for net outflows since their grand debut over a year ago. The latter half of the month was particularly excruciating, making it the most dismal February for BTC’s price movements in over a decade. Bravo! 👏

Since February 7, we haven’t seen a single day of triple-digit net inflows. In fact, only two trading days have dared to flirt with the green, while the remaining twelve have wallowed in a sea of red. The pièce de résistance was on February 25, when a staggering $1.138 billion waltzed out the door. The days before and after were no better, with $539 million and $754.9 million making their grand exits, respectively. A veritable exodus! 🏃‍♂️💨

After yet another $275.9 million was whisked away on Thursday (Feb 27), Friday finally brought a glimmer of hope with $94.3 million in net inflows. But let’s not get too carried away, as the week still ended with a dramatic $2,614.1 billion fleeing the funds. One can only imagine the drama! 🎭

Is it any wonder that BTC’s price plummeted from a dizzying $96,000 to a mere $78,000 during this theatrical performance, hitting its lowest note since early November 2024? Quite the tragic tale! 📉

ETH ETFs: A Knockout Performance

Now, let’s turn our attention to the spot Ethereum ETFs, which have taken a slightly different route this month. They even managed a few days of net inflows from February 13 to February 19, though let’s not forget there were three non-trading days in that mix. A clever ruse, if you will! 🕵️‍♂️

However, their little party came to a screeching halt on February 20, and they’ve been bleeding out ever since. The past week alone saw $78 million vanish on Monday, $50.1 million on Tuesday, $94.3 million on Wednesday, $71.2 million on Thursday, and $41.9 million on Friday. Overall, the week ended with a rather dismal $335.5 million making its exit. How positively tragic! 😱

ETH’s price performance mirrors that of BTC, as it too has taken a nosedive of over 20% on a weekly scale. It dipped toward the $2,000 mark for the first time in ages but managed to hold on for dear life—at least for now. A true cliffhanger! 🎢

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2025-03-01 15:15