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Bitcoin and Ethereum ETFs: Because Getting Rich Quick Is Clearly Not Working Out

Crypto NewsDeFiEthereum 5 Barry Thompson August 16, 2024

An illustration of two people running away from an explosion with flames rising behind them; one person holding onto a briefcase labeled "ETF" while the other is carrying a large sack marked "$". In the background, there's a cityscape with skyscrapers and buildings on fire. The sky above is darkened by smoke and ash clouds. A massive crater has formed in the ground where an explosion occurred earlier. Flames are licking at the edges of the crater as it smolders. To one side, two people stand watching from a distance; they're dressed in business attire but look worried.

The crypto bros can’t even get rich quick right! It seems they’re just getting poor slow instead. The spot Bitcoin ETFs have lost $89 million this week alone – that’s almost as much as the entire market is worth on any given day. And don’t even get me started on Ethereum, which has seen a whopping $15 million in outflows. You’d think these guys would be smart enough to invest their money elsewhere, but nope! They’re too busy chasing after worthless digital tokens

Source: bitcoin.com

Spot Bitcoin and Ethereum ETFs Shed Millions in Friday Trading
https://news.bitcoin.com/spot-bitcoin-and-ethereum-etfs-shed-millions-in-friday-trading
During Friday’s trading sessions, U.S. spot bitcoin and ethereum exchange-traded funds (ETFs) experienced significant outflows, with $89.73 million exiting the BTC ETFs and $15.71 million flowing out of the ETH ETFs. Data from sosovalue.xyz revealed that the 12 spot bitcoin ETFs collectively saw $89.73 million in outflows on Friday, reducing the total net inflows since Jan. 11, 2024, to $17.34 billion. The biggest hit came to Grayscale’s GBTC, which dropped […]

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About the author

Barry Thompson

Barry’s crypto nightmare began when he bought Bitcoin at $3, thinking he’d stumbled upon the financial opportunity of a lifetime. He sold his stash at $100, only to watch in dismay as Bitcoin soared to absurd heights. Now, Barry channels his rage into scathing articles about the crypto circus, seething with resentment at the digital gold rush he barely missed. His motto: “I sold out at $100, but the joke’s on me because the real joke was believing in this absurd circus.”

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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.

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