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Bitcoin and Ether ETFs saw another day of heavy withdrawals, while Solana ETFs maintained an uninterrupted inflow streak since launch.<\/p>\n
Bitcoin\u2019s rapid pullback has pushed the average US spot Bitcoin exchange-traded fund (ETF) investor into the red for the first time since the products launched.<\/p>\n
The flow-weighted cost basis across all US Bitcoin (BTC<\/a>) ETFs sits near $89,600, a level Bitcoin fell below on Tuesday, leaving the cohort underwater, Glassnode analyst Sean Rose told<\/a> Bloomberg on Tuesday. Some early buyers, particularly those who entered when Bitcoin was between $40,000 and $70,000, still remain in profit.<\/p>\n \u201cEven with the average ETF cost basis above spot, most ETF holders are long-term allocators, so being underwater doesn\u2019t trigger quick exits,\u201d Vincent Liu, the chief investment officer at quantitative trading firm Kronos Research, told Cointelegraph.<\/p>\n Read more<\/p>\n<\/p>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n\n