Average Bitcoin ETF buy underwater as investors pull $2.8B in 2 weeks - Source: CoinTelegraph

Bitcoin is trading below the average cost basis of US spot Bitcoin ETFs after they recorded their second and third-biggest outflow weeks last month, according to Galaxy’s head of research, Alex Thorn.

The total assets under management for US Bitcoin ETF products are approximately $113 billion, according to Coinglass, and they collectively hold around 1.28 million BTC, according to BiTBO, implying an average cost basis of about $87,830 per Bitcoin.

Story continues: https://cointelegraph.com/news/average-bitcoin-etf-buy-underwater-after-investors-pull-2-8b-2-weeks