Bitcoin ETFs: The Dramatic Tale of $585 Million Vanishing Act! 💸✨

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In a most theatrical twist befitting a Shakespearean tragedy, the spot Bitcoin exchange-traded funds in the United States have succumbed to a veritable deluge of net weekly outflows, thus concluding their six-week inflow streak—a streak that had, in its heyday, amassed a staggering $5 billion. Oh, the irony! 🎭

According to the ever-watchful SoSoValue, the twelve spot Bitcoin ETFs collectively bled out a staggering $585.65 million in net weekly outflows for the week ending February 14. One can almost hear the collective gasp of investors as they witness this financial exodus, a veritable flood of greenbacks fleeing like startled gazelles. 🦓💨

Our tale begins on February 10, with a rather unceremonious $186.28 million in outflows, a mere prelude to the ensuing chaos. The following days saw the outflows continue their relentless march: $56.76 million, $251.03 million, and a final flourish of $157.78 million. Yet, in a plot twist worthy of a soap opera, the investment funds managed to end the week on a slightly positive note, with a modest $66.19 million in net inflows. A happy ending? Perhaps, but only for the most optimistic of souls. 🌈

Fidelity’s FBTC, the darling of the day, attracted a princely sum of $94.04 million, finally breaking its four-day streak of negative flows. This fund, the second-best performer in the BTC realm, boasts a cumulative net inflow of $12.5 billion since its inception. Bravo! 👏

Following closely behind, BlackRock’s IBIT managed to lure in $22.26 million, while Bitwise’s BITB and Grayscale’s mini Bitcoin Trust added their own modest contributions of $7.99 million and $6.46 million, respectively. It’s a veritable buffet of inflows! 🍽️

On the darker side of the ledger, Grayscale’s GBTC witnessed a staggering $46.95 million in exits, bringing its cumulative net outflows to a jaw-dropping $22.01 billion. ARK 21Shares’ ARKB and VanEck’s HODL also joined the outflow party, with losses of $13.19 million and $4.43 million, respectively. A veritable tragedy, indeed! 🎭

As we pen this narrative, Bitcoin (BTC) finds itself down 2.4% over the past week, trading at a rather unremarkable $95,652 per coin. One can only wonder what the future holds for our beleaguered hero. 🥴

Meanwhile, the nine spot Ethereum ETFs, not to be outdone, recorded $26.26 million in weekly outflows for the week ending February 14. After a slow start, these ETH funds seem to be gaining traction, albeit with the grace of a newborn deer on ice. 🦌❄️

In a twist of fate akin to a last-minute plot twist, ETH funds ended the week with a modest $11.65 million in net inflows, all of which flowed into Fidelity’s FETH, while the other funds languished in a state of inertia. Ethereum (ETH) was trading at $2,685, down a mere 0.3% over the past week. A small victory in a sea of uncertainty! 🎉

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2025-02-18 09:32