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CRYPTO BROs REJOICE: $57 BILLION WORTH OF BTC GETS LOST DOWN BITCOIN RABBIT HOLE AS SPOT ETF INFLUXES CONTINUE TO BREAK BANK…AND THE PLANET

A  rabbit peeks over a cliff's edge into an endless abyss labeled with dollar signs and cryptocurrency symbols. The ground below is littered with scattered coins and broken bank vaults.

The never-ending saga of crypto bros throwing their money into a void continues unabated as spot Bitcoin and Ether ETFs suck in another $95 million on Friday. Because what’s the fun in having actual wealth if you can’t lose it all investing in something with no inherent value? The numbers are mind-boggling: 12 spot bitcoin ETFs have accumulated an astonishing $57 billion in BTC reserves since January, which is roughly equivalent to a large pile of worthless paperweights. And don’t even get me started on the energy usage required to keep these digital Ponzi schemes running. It’s like we’re all just contributing to one giant, planet-destroying game of Crypto Bingo.

Source: bitcoin.com

The spot bitcoin and ether exchange-traded funds (ETFs) experienced a second consecutive day of inflows, as both categories of funds posted gains. On Friday, spot bitcoin ETFs drew in $92 million, while spot ether ETFs collected $2.87 million. Publicly listed, physically settled bitcoin and ethereum ETFs continued to benefit from Thursday’s inflows, with spot bitcoin ETFs raking in $92 million. Fidelity’s FBTC led the charge, securing $26.12 million, followed by […]

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