Oh, the humanity! The glittering parade of Bitcoin exchange-traded funds (ETFs) has lost its sparkle, breaking a three-day inflow streak with a rather theatrical exit: $86 million sashayed out, led by Grayscale’s GBTC in what can only be described as a classic display of financial melodrama. Ether ETFs weren’t to be outdone, with Fidelity’s FETH flouncing off stage, taking $18 million along for the ride. 💸
GBTC and FETH—Starring in “The Great ETF Getaway”
The curtain rose on Tuesday, May 7, to reveal both bitcoin and ether ETFs stumbling—yes, waltzing backwards!—ending what had been a positively dashing start to the week. After three suspenseful days of inflows (how gripping!), bitcoin ETFs discovered $85.64 million had discreetly excused itself, presumably to powder its nose, thus pausing their heroic streak of optimism.
In the role of chief escape artist, Grayscale’s GBTC dialed up the drama with an $89.92 million outflow—sure to win it an Olivier Award—or at least a stiff martini. Ark 21Shares’ ARKB enjoyed a little flit and flutter of its own with $16.12 million, while Franklin’s EZBC and Vaneck’s HODL made modest but respectable exits (let’s call them supporting actors: $8.26 million and $8.06 million, respectively). The single dash of sunshine amid this tempest? Blackrock’s IBIT, which, like a plucky understudy, managed to lure $36.73 million, proving, yet again, some folks do still enjoy a matinee.
Total value traded across bitcoin ETFs was a rather debonair $1.46 billion—charming, to be sure—with net assets wrapping up the festivities at $111.15 billion. 🍸
But what of ether, you ask? Fidelity’s FETH put on a one-woman show, logging a slippery $17.87 million outflow—no other funds dared upstage her. Ether ETF volume bowed politely at $135.25 million, and total net assets took a dainty step down to $6.18 billion.
All in all, a rather subdued day in crypto ETFland—a gentle reminder that these markets, much like amateur dramatics, can sometimes leave one in need of a gin and tonic. Cheers! 🥂
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2025-05-07 23:29