Background

12 Bitcoin ETFs Somehow Manage to Suck in a Whopping 25 Million Despite Grayscale Losing 22 Million Because Who Needs Returns When You Can Just Gamble on Numbers

A chaotic illustration featuring various bitcoin and ethereum exchange-traded fund logos careening out of control down a winding road lined with dollar signs, while Grayscale's GBTC logo is shown plummeting into the distance in the opposite direction.

The never-ending saga of crypto bros throwing money at their precious ETFs continues! Despite Grayscale’s GBTC and ETHE losing a combined $22 million on Friday (ouch, that must’ve stung), the 12 spot bitcoin ETFs somehow still managed to suck in a whopping $25.59 million. I mean, who needs actual value or returns when you can just throw money at numbers on a computer screen? The standout performer was Bitwise’s BITB, which drew in a cool $15.29 million – likely from some poor soul trying to get rich quick by riding the crypto wave… again.

Source: bitcoin.com

On Friday, the 12 U.S. s pot bitcoin exchange-traded funds (ETFs) experienced positive inflows, totaling $25.59 million. Concurrently, the nine spot ether ETFs garnered a combined $7.39 million in inflows during the day’s trading session. Both bitcoin and ethereum ETFs showed positive growth on Friday, with 12 spot bitcoin ETFs pulling in $25.59 million after three straight days of outflows. The standout performer was Bitwise’s BITB, drawing in $15.29 million. […]

Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

We are the internet’s finest destination for poking fun at the wild world of cryptocurrency! We transform the bewildering jargon and frantic hype of the crypto market into a comedy spectacle that’s almost as volatile as crypto itself.

© 2024 Cryptobro Magazine