Unraveling Riches: The Crypto Tumble No One Saw Coming 🤯

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They say the dusty trails of crypto have grown even drier, for Bitcoin ETFs managed a sixth straight day of redemptions—like a farmer who keeps finding locusts in every field—dropping a hefty $150 million, led by the mighty folks at Fidelity and Grayscale. Meanwhile, Ether ETFs stumbled right alongside, coughing up $38.79 million and tiptoeing ever closer to that $5 billion net-asset mark (or so they hope 🤷‍♂️).

Six Days of Gloom: Bitcoin ETFs Lose $150 Million, Ether Funds Hand Over $38 Million

As if guided by an invisible hand of misfortune, Thursday, April 10, saw the exodus continue for bitcoin ETFs. Folks yanked out $149.66 million from the U.S. spot ETFs faster than you can say “tumbleweed,” all thanks to a market jitters that would make a jackrabbit tremble. 🌵

Fidelity’s FBTC took the brunt of the whippin’, losing $74.63 million, with Grayscale’s GBTC close behind, unloading $44.63 million. Ark 21shares’ ARKB and Bitwise’s BITB hopped on the bandwagon with outflows of $12.69 million and $10.82 million, while Franklin’s EZBC and Invesco’s BTCO wrapped up the sorry parade, tossing out $9.21 million and $7.55 million, respectively.

Source: Sosovalue

But hold your horses—there was one thread of hope: Grayscale’s Mini Bitcoin fund saw $9.87 million stroll its way, the lone green sprout in a field of weeds. Another day below $90 billion for total net assets ain’t exactly a hoedown, closing at $88.61 billion, but at least there’s a sprinkle of optimism somewhere. 🤠

Across town, ether ETFs weren’t exactly singing “Happy Trails” either. A combined $38.79 million waltzed right out the door, dragging net assets down to $5.10 billion. Fidelity’s FETH lopped off the biggest chunk at $36.01 million, while Vaneck’s ETHV ($4.44 million), Bitwise’s ETHW ($2.50 million), and Grayscale’s ETHE ($2.27 million) all pitched in their share of the gloom. The total for ether ETF trading volumes came in at $424.10 million—enough to make a tarantula blink twice.

With both BTC and ETH ETFs feeling the squeeze, traders are left to wonder if the ground’s about to shift beneath their feet or if this is just one more dusty day on the crypto frontier.

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2025-04-11 16:57