Are The Bitcoin ETFs Failing?

However that information is a bit of murky.

In actuality, it’s largely only one ETF that’s pulling these each day numbers down: Grayscale.

Why? As a result of they refuse to decrease their 1.5% administration price to compete with different choices, that are largely 0% for the primary yr or so, then within the realm of 0.25% p/y.

(So, like 6x cheaper than Grayscale?).

Excellent news: Grayscale can solely bleed so many purchasers, for therefore lengthy, earlier than there’s no extra to lose.

(At which level the promoting will cease → we’ll in all probability begin seeing extra each day net-purchasing → which ought to assist to push Bitcoin to new all-time-highs).

The takeaway:

Yeah, the ETFs seem to be bleeding proper now — however it’s actually simply Grayscale. The opposite funds are in nice form, pulling in tons of of hundreds of thousands per day.

Good!