Average IBIT investor now down about 40% as spot bitcoin ETFs cap second-worst week on record

The average investor in Bitcoin Investment Trust (IBIT) has seen their holdings drop by around 40% over the past few weeks, marking the second-worst weekly performance on record. This downturn was capped by a $444.51 million net outflow on Friday, marking a seventh consecutive negative week, the longest streak for the category. This significant decline underscores the volatile nature of Bitcoin investments and highlights the growing concerns about the stability and regulation of cryptocurrency markets. The ongoing outflows could signal investor skepticism or a shift in market sentiment regarding Bitcoin ETFs.