Bitcoin ETFs 'hanging in there' despite BTC plunge: Analyst

Bitcoin ETFs may be sitting on their “biggest losses” since launching in January 2024, but there is a silver lining, according to an ETF analyst.

US-based spot Bitcoin exchange-traded fund (ETF) holders are showing relatively firm conviction despite a four-month Bitcoin downtrend, according to ETF analyst James Seyffart.

“The ETFs are still hanging in there pretty good,” Seyffart said in an X post on Wednesday.

While Seyffart said that Bitcoin (BTC) ETF holders are facing their “biggest losses” since the US products launched in January 2024 — at a paper loss of around 42% with Bitcoin below $73,000 — he argues the recent outflows pale in comparison to the inflows during the market’s peak. 

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