Imagine, dear reader, the sheer drama that unfolded when spot bitcoin exchange-traded funds, previously the darlings of the digital asset ball, took a tumble worthy of a Waugh-esque novel. They ended a ten-day streak of inflows with a $93.16 million exodus, their first day in the red—how utterly scandalous! 😱
The Great Bitcoin ETF Exodus vs. The Steadfast Ether ETFs
It was as if the gods of finance themselves had decreed a twist in the tale; a sudden reversal of fortunes for U.S. bitcoin ETFs. On March28, they witnessed a $93.16 million withdrawal, according to the ever-so-reliable sosovalue.com stats. A fall from grace, indeed.
Eleven out of twelve bitcoin funds stood still, like statues in a financial tableau, showing no net activity. Yet, Fidelity’s FBTC, much like a tragic hero, bore the brunt alone, accounting for the entire $93.16 million shuffle. Quelle horreur!
Despite this hiccup, since their grand debut on Jan.11,2024, spot BTC exchange-traded funds have managed to amass a staggering $36.24 billion in net inflows—a sum that would make even the most stoic financier’s heart flutter with glee.
Friday’s trading session saw a lively $2.22 billion exchange hands among the dozen funds. Post-outflow, their collective BTC holdings settled at a respectable $94.39 billion, now representing5.68% of bitcoin’s total market value. A modest slice, but still a slice of the pie, nonetheless.
Meanwhile, their ether-based cousins, with a touch of irony, sailed through calmer seas. Eight of nine ether ETFs remained as still as a painting, while Grayscale’s ETHE, like a beacon in the night, attracted $4.68 million—a small victory, but a victory nonetheless.
On March28, ether funds collectively managed a respectable $234.23 million in trading activity, with total inflows since July2024 reaching $2.41 billion. The nine-fund ensemble now holds $6.42 billion in ether reserves, a modest2.84% of the cryptocurrency’s overall worth. Bravo, ether ETFs, bravo! 👏
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2025-03-29 22:59