Picture this: a $326 million exit from Bitcoin ETFs on Tuesday, April 8—as if investors decided Blackrock’s IBIT was last season’s accessory. Meanwhile, Ether ETFs pulled a modest vanishing act with Fidelity’s FETH losing a mere $3.29 million. Even crypto has its dramatic moments! 😂
Blackrock’s IBIT Takes a $326M Plunge, and Ether ETFs Fumble Too
The drama continues: Bitcoin ETFs are bleeding cash, and Tuesday only added fuel to the fire. On April 8, a jaw-dropping $326.27 million ghosted the market—marking the fourth day in a row of investors checking out like they’re fleeing a bad party. 🙄
Leading the exit parade is Blackrock’s iShares Bitcoin Trust (IBIT), with a whopping $252.90 million vanishing faster than my paycheck on a Friday night. Over 75% of the day’s outflow? Talk about being extra! 😏
Next up, Bitwise’s BITB and Ark 21Shares’ ARKB trailed with $21.71 million and $19.90 million disappearing, respectively. Meanwhile, smaller players contributed their bit: Franklin’s EZBC lost $8.89 million, Grayscale’s GBTC dropped $8.49 million, Grayscale’s BTC waved goodbye with $7.48 million, and Invesco’s BTCO dipped by $6.90 million. Not the grand finale fireworks, but definitely a parade of “oops” moments. 😂
Despite the mass exodus, trading was quieter than a Monday morning meeting. Total value traded nosedived from $6.59 billion on Monday to a whisper of $3 billion on Tuesday. And as if that wasn’t enough, bitcoin ETFs saw their total net assets take a hit, sliding to $85.76 billion by day’s end. Ouch. 😬
Not to be left out, Ether ETFs joined the retreat. After a snooze-fest session the day before, Fidelity’s FETH waved a modest goodbye with a $3.29 million exit—kind of the participation trophy of outflows. 🤷♀️
With capital draining out of digital asset funds faster than my coffee on a hectic day, the burning question remains: Are investors just playing musical chairs, or are they bracing for the next crypto hurricane? (Spoiler alert: It’s a bit of both.) 😜
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2025-04-09 14:58