Bitcoin ETFs Are Bleeding Faster Than My Patience

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So, Bitcoin and Ethereum spot ETFs are still tanking. Surprised? Yeah, me neither. Monthly average netflows are still in the red, and honestly, it’s about as exciting as watching paint dry.

Bitcoin & Ethereum Spot ETFs: The Great Cash Exodus

Glassnode, the on-chain analytics firm that loves to rain on everyone’s parade, pointed out on X (formerly Twitter, because Elon Musk needed another thing to ruin) that the average netflow for both Bitcoin and Ethereum spot ETFs has stayed negative. Spot ETFs are supposed to be the golden ticket for investors who want crypto exposure without actually touching the blockchain. But hey, here we are, watching money evaporate faster than my patience at a vegan dinner party.

ETFs for digital assets exist all over the world, but let’s be real, the U.S. ones are the stars of this tragicomedy. The SEC approved Bitcoin spot ETFs in January 2024 and Ethereum ones in July 2024. They were supposed to be the next big thing, tapping into institutional demand. But now? They’re about as popular as a screen door on a submarine.

First, feast your eyes on this chart showing the 30-day simple moving average (SMA) of Bitcoin spot ETF netflows over the last couple of years:

As you can see, Bitcoin ETFs went from “meh” to “oh no” back in November. Since then, it’s been a slow bleed, like watching someone try to fix a flat tire with chewing gum. There was a brief moment of hope earlier this month when the netflow flipped positive, but it lasted about as long as a New Year’s resolution.

Ethereum spot ETFs? Same story, different day.

From the graph, it’s clear that Ethereum ETFs also dipped back into the red after a brief wave of net inflows. Interest in digital assets? Down. Demand? Missing in action. Glassnode summed it up perfectly: “There is no sign of renewed demand.” Shocking, right? Next, they’ll tell me water is wet.

BTC Price: Not Exactly Mooning

As of now, Bitcoin is hovering around $88,000, down 3.5% in the last seven days. Yeah, not exactly mooning. More like stumbling around in the dark looking for a light switch.

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2026-01-28 06:11