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Bitcoin Spot ETFs Prove to Be Only Slightly Less Volatile Than a Hot Mess of Spilled Cheetos on Black Friday

BitcoinCrypto NewsRegulation/Negotiation 2 Barry Thompson August 16, 2024

An illustration: A chaotic scene with a giant Cheeto bag spilling out bright orange cheese dust everywhere, amidst swirling storm clouds and lightning bolts; at center stage stands an enormous Bitcoin logo made of scattered coins surrounded by tiny spot exchange-traded funds (ETF) symbols dancing around it in frantic motion. In the background, Grayscale's GBTC symbol is seen being swept away like a leaf on a gusty wind as NYSE Arca electronic exchange and SEC regulations are depicted as giant anchors trying to hold back the tide of chaos;

The eternal dance between investors and their crypto toys continues, with a net inflow of $11M into Bitcoin spot ETFs on Aug 15th. Meanwhile, GBTC loses another $25 million because who needs stability in the wild west of finance? The New York Stock Exchange withdrew its rule change proposal for trading GBTC, probably to prevent any more investors from getting burned by this crypto dumpster fire.

Source: cointelegraph

Bitcoin Spot ETFs net $11M inflow, despite GBTC loss
https://cointelegraph.com/news/bitcoin-spot-etf-inflows-aug-2024
On Aug. 15, Bitcoin spot exchange-traded funds (ETFs) recorded a net inflow of $11.11 million, indicating continued investor interest despite outflows from Grayscale Bitcoin Trust (GBTC). According to Sosovalue data, while the overall spot Bitcoin ETF market experienced positive inflows, GBTC witnessed a significant $25.03 million outflows during the same period. This downturn for GBTC aligns with the New York Stock Exchange’s (NYSE) Arca electronic exchange, which withdrew a rule […]

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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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