Based on Insidebitcoins, US spot Bitcoin ETF investors fell into the red on average as Bitcoin briefly traded below $89,600, near the average cost basis of ETF inflows. This occurred as issuers prepare for a new wave of crypto ETFs, including those for Dogecoin, Solana, and XRP. In November, spot Bitcoin ETFs have seen $2.8 billion in redemptions, with the largest single-day outflow of $866.7 million on Nov. 13. BlackRock’s IBIT led the outflows with $145.6 million on the latest trading session. Meanwhile, VanEck’s VSOL and Fidelity’s FSOL are among the new altcoin ETFs set to launch soon. On-chain data shows long-term investors are buying the dip, with permanent holder addresses accumulating 345,000 BTC as of Nov. 6.
Bitcoin ETF Investors Face Losses as New Altcoin ETFs Loom
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