Bitcoin ETF Investors Face First-Time Underwater Position

The recent downturn in Bitcoin prices has pushed average US spot Bitcoin ETFs into negative territory for the first time since their inception. The flow-weighted cost basis of all US Bitcoin ETFs currently sits near $89,600, a level Bitcoin recently dipped below on Tuesday, leaving ETF investors underwater. While long-term investors are more likely to hold on and see the dip as an opportunity for further gains, early buyers who entered during the price range between $40,000 and $70,000 may still remain profitable.