Crypto has patiently awaited spot Bitcoin ETFs for the better part of a decade. They were approved and started trading this week! While it feels like there are plenty of reasons to celebrate, BTC has cratereda shocking 12.4% off its ETF debut high. WTF happened to TradFi buying our bags?
The total crypto market cap has plunged since spot BTC ETFs hit the market, with Bitcoin leading the decline as longs have come to the sudden realization that they are offside.
Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial real estate development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business.
Bitcoin ETFs for the better part of a decade. They were approved and started trading this week! While it feels like there are plenty of reasons to celebrate, BTC has cratered a shocking 12.4% off its ETF debut high. WTF happened to TradFi buying our bags?
