Average Bitcoin ETF Investor Turns Underwater After Heavy Outflows

Bitcoin is trading below the average cost basis of US spot Bitcoin exchange-traded funds after the products recorded their second- and third-largest weekly outflows on record last month, according to research from Alex Thorn, head of research at Galaxy. Key Takeaways: Bitcoin has fallen below the average cost basis of US spot Bitcoin ETFs, leaving the typical ETF buyer underwater. Heavy outflows of nearly $2.8 billion over two weeks signal a sharp reversal from last year’s strong inflows. Despite pri ...