Bitcoin ETFs: The Rollercoaster Ride You Didn’t Sign Up For! 🎢💸

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So, picture this: Bitcoin‘s been on a bit of a bender lately, dropping more than 10% in just a week. I mean, who knew digital coins could have such dramatic mood swings? 😱 And while the US-based spot Bitcoin ETFs were busy crying into their wallets, they also managed to pull off some impressive withdrawals. It’s like watching a soap opera, but with more zeros and less romance.

But hold onto your hats, folks! On Friday, February 28, these ETFs decided to stop the bleeding and actually added nearly $100 million in value. 🎉 But let’s not pop the champagne just yet; it might be a tad premature to declare a happy ending. After all, we’ve seen this plot twist before, haven’t we?

Bitcoin ETFs Lose $3.2 Billion In Eight Days

According to the latest gossip from the market, the US-based spot Bitcoin ETFs managed to scrape together a daily net inflow of $94.34 million on Friday. That’s right, folks! They finally broke their eight-day streak of consecutive net outflows. Talk about a comeback! Or is it just a temporary blip? 🤔

Now, let’s give a round of applause to the ARK 21Shares Bitcoin ETF (ticker: ARKB) for being the star of the day, bringing in a whopping $193.7 million. Meanwhile, Fidelity Wise Bitcoin Fund (FBTC) decided to join the party with over $176 million. It’s like a financial version of “who wore it best?” but with way more money and way less fashion sense.

Bitwise Bitcoin ETF (BITB) and Grayscale Mini Trust (BTC) also managed to squeeze in some net inflows ($4.57 and $5.59 million, respectively). But BlackRock’s IBIT, the big boss of Bitcoin ETFs, was busy with its own drama, accounting for most of the withdrawals at a staggering $244.5 million. Someone get this ETF a therapist! 😅

Now, that $94.34 million inflow is like a band-aid on a bullet wound when you consider the weekly performance, which is still sitting at a record negative outflow of over $2.61 billion. Ouch! The last time the US Bitcoin ETF market saw a positive inflow was on February 14. It’s like waiting for a bus that never comes. 🚍

In total, over $3.265 billion was withdrawn from these ETFs in just eight days. And let’s not forget that Tuesday, February 25, when the ETFs hit a new low with over $1.1 billion in daily net outflows. That’s a new record, folks! Who knew ETFs could be so dramatic? 🎭

Bitcoin Price And The Spot ETFs

Now, let’s talk about the elephant in the room: the relationship between the performance of these ETFs and the price of Bitcoin. According to CryptoQuant’s Head of Research, Julio Moreno, it seems that ETFs have taken a backseat in driving demand for Bitcoin this year compared to last. It’s like they’ve lost their mojo! 😩

As of day 58 of 2025, the net cumulative inflows into Bitcoin ETFs stand at 12,100 Bitcoin ($1.7 billion). Compare that to 128,700 Bitcoin ($6.3 billion) in 2024, and you’ve got yourself a sad little story. No wonder Bitcoin’s been struggling to keep its head above water this year!

As I write this, BTC is valued at around $85,400, reflecting a 1.5% price increase in the past 24 hours. So, it’s not all doom and gloom, but let’s just say it’s a bit of a rollercoaster ride. 🎢

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2025-03-02 17:43