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You Won’t Believe Who’s Losing BILLIONS as Bitcoin ETFs Absorb a Mind-Numbing $20 Billion – The Shocking Mid-Game Movers Exposed!

BitcoinCrypto NewsEthereum Kevin Nelson October 19, 2024

A illustration depicting a giant Bitcoin and Ethereum globe with massive cash inflows pouring into it from various financial institutions' skyscrapers, while others stand idle or show losses. The scene is set against a chaotic cityscape at dusk.

Another day, another dollar (or rather, another million) flushed down the drain into Bitcoin ETFs… Literally! On Wednesday alone, a whopping $20 billion was funneled into these supposed ‘safe-haven’ investments. Meanwhile, I’m over here thinking about Jemima Kelly’s words – ‘the whole crypto market is just one big Ponzi scheme.’ (Not me saying that, btw). Blackrock’s IBIT led the charge with an eye-watering $393 million and Fidelity’s FBTC brought up the rear with a measly $14.81 million. I mean, what even is this? Are we competing in some sort of bizarre game where whoever loses the most money gets to be on the cover of Forbes?.

Source: bitcoin.com

$20B Flows Into Bitcoin ETFs Since January – Wednesday’s Top Players Revealed
https://news.bitcoin.com/20b-flows-into-bitcoin-etfs-since-january-wednesdays-top-players-revealed
On Wednesday, U.S. spot bitcoin exchange-traded funds (ETFs) experienced another high-activity trading session, pulling in $458.54 million in gains. Meanwhile, ether ETFs also saw inflows, with $24.22 million moving into the nine funds. Data from sosovalue.xyz showed that $458.54 million was added to the 12 bitcoin ETFs in total. Blackrock’s IBIT led the pack, amassing $393.4 million during the day. Fidelity’s FBTC followed with $14.81 million, Bitwise’s BITB took in […]

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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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