Bitcoin ETFs: The Great Money Exodus of 2023!

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So, guess what? According to the ever-so-reliable SoSoValue, Bitcoin exchange-traded funds (ETFs) just had a little tantrum and recorded a whopping $143.3 million in outflows on Thursday. 💸

But wait! BlackRock’s iShares Bitcoin Trust ETF (IBIT) decided to be the overachiever in the group, raking in $45.75 million in inflows. 🎉 It’s like the kid in class who actually does their homework while everyone else is busy playing Fortnite. This tiny influx has cushioned the blow for the other Bitcoin ETFs, but let’s be real, it’s like putting a Band-Aid on a bullet wound. 🩹

Now, let’s talk about Fidelity’s Fidelity Wise Origin Bitcoin Fund (FBTC). It’s not so wise after all, logging the biggest outflows of more than $75 million. Ouch! That’s gotta sting. 😬

And then there’s the ARK 21Shares Bitcoin ETF (ARKB), which also decided to join the outflow party with more than $60 million. It’s like a sad, sad parade of lost money. 🎈

Meanwhile, Bitcoin is currently trading at $82,511, after a delightful 7% correction over the past week. Because who doesn’t love a good rollercoaster ride? 🎢

Oh, and just for fun, the S&P 500 stock market index has plunged into technical correction territory. Because why not? Let’s throw in some global trade tensions for good measure! 🌍

And if you thought that was enough, the tech-heavy Nasdaq-100 index dropped by nearly 2% on Thursday. It’s like watching your favorite show get canceled—just when it was getting good! 📉

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2025-03-14 11:57