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US Crypto Bro ETFs Are Literally Bleeding Money Because Apparently Nobody Told Them That Investing in Bitcoin Is a Recipe for Disaster

Crypto NewsRegulation/NegotiationRetail Investors 1 Kevin Nelson August 15, 2024

An illustration of an old-fashioned money pump with blood dripping from it, surrounded by falling coins and dollar signs; at its base lies a broken Bitcoin symbol amidst scattered papers labeled 'ETF' and 'Losses'. In the background is a faint image of two people running away in opposite directions. The scene takes place on a darkened city street littered with trash cans overflowing with worthless currency notes, while above looms an ominous moonlit sky filled by fluttering dollar signs that seem to be falling towards the ground like autumn leaves.

It seems like another day, another dollar lost by crypto bros who still can’t figure out that their precious Bitcoin ETFs are nothing but money pits waiting to be drained dry by Wall Street sharks! Meanwhile, the Ethereum crowd is cashing in on some decent inflows. Who would have thought? The spot bitcoin exchange-traded funds (ETFs) bled a whopping $148.56 million while ether ETFs saw an influx of $98.30 million – it’s like they’re trying to prove that only one cryptocurrency is worth investing in! Fidelity’s FBTC and Grayscale’s Bitcoin Trust (GBTC) led the losses, shedding $64.48 million and $32.18 million respectively. Poor crypto bros must be crying themselves to sleep at night thinking about their lost funds

Source: bitcoin.com

US Bitcoin ETFs Bleed $148.56M While Ethereum ETFs Cash In
https://news.bitcoin.com/us-bitcoin-etfs-bleed-148-56m-while-ethereum-etfs-cash-in
Based on the latest data, spot bitcoin exchange-traded funds (ETFs) experienced net outflows of $148.56 million on Tuesday. Conversely, spot ether ETFs saw a positive inflow of $98.30 million during the same period. On Aug. 6, as the crypto market began to recover from the substantial decline on Aug. 5, bitcoin ETFs experienced a notable amount of outflows while ether ETFs recorded gains. The 12 spot bitcoin ETFs saw $148.56 […]

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About the author

Kevin Nelson

Kevin’s foray into cryptocurrency trading was a full-scale disaster. His obsession with chasing trends and leveraging obscure assets led to a catastrophic loss of his entire life savings. Now, Kevin’s articles are a venomous mix of bitter humor and harsh reality checks, exposing the chaotic and treacherous world of crypto trading. His catchphrase: “I went from trading genius to broke fool in record time. Welcome to crypto—where the only thing guaranteed is your financial ruin.”

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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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