Crypto Investors Still Throwing Money At Ether Etfs Like They’Re Trying To Set Their Wallets On Fire

The never-ending farce of cryptocurrency investing continues! It’s like watching a train wreck in slow motion – you can’t look away even though you know the outcome will be catastrophic.

So, let me get this straight: despite Ether plummeting 23% since August began (because it’s just numbers on a computer created from nothing), investors are still throwing their money at these ETFs like they’re trying to put out a fire with gasoline. And what do we have? A whopping $104.8 million in net inflows, mostly driven by BlackRock’s iShares Ethereum Trust because who doesn’t love throwing good money after bad?

It’s almost as if the crypto bros are competing in some kind of sadistic game to see how much they can lose before it all comes crashing down (spoiler alert: it will). And what do we get for our troubles? A bunch of ETF issuers scrambling to launch options products because, hey, more ways to gamble on a worthless asset!

Meanwhile, Grayscale’s Ethereum Trust is still hemorrhaging assets like there’s no tomorrow. $180 million in outflows last week alone! It’s almost as if people are finally realizing that cryptocurrency has no inherent value and it’s just a bunch of nonsense created by scammers.