Bitcoin ETFs Bleed $1.2B: Schwab Laughs in Crypto 🤑

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Ah, the fickle embrace of fortune! Spot Bitcoin exchange-traded funds in the United States have, in a most dramatic flourish, shed over $1.2 billion this week. Yet, Charles Schwab, that bastion of financial whimsy, remains as bullish as a bull in a china shop-or perhaps, a crypto enthusiast in a bear market. 🌪️

The eleven spot Bitcoin ETFs, those poor darlings, witnessed an aggregate outflow of $366.6 million on Friday, capping off a week as red as a rose-or, more aptly, a bloody nose. BlackRock’s iShares Bitcoin Trust, that grand dame of investments, lost $268.6 million, according to SoSoValue. Fidelity’s fund, not to be outdone, shed $67.2 million, while Grayscale’s GBTC outflowed a modest $25 million. Even the Valkyrie ETF, that valiant warrior, suffered a minor outflow. The rest? They stood still, as frozen as a socialite at a scandalous soirée. ❄️

Another crimson day for Bitcoin ETFs culminated in a total outflow of $1.22 billion for the week, with only a single, fleeting moment of inflow on Tuesday-a mere whisper of hope in a tempest of despair. 🌀

This exodus coincided with Bitcoin’s dramatic plunge, shedding over $10,000 in a crash from its lofty perch of $115,000 on Monday to a four-month low of just below $104,000 on Friday. Ah, the sweet agony of volatility! 🎢

Schwab’s Crypto Charade

Charles Schwab’s CEO, Rick Wurster, remains as bullish as a matador in a bullring, declaring that his clients own a staggering 20% of all crypto ETPs in the country. “Very active,” he purred on CNBC, noting a 90% surge in visits to the company’s crypto site over the past year. “It’s a topic of high engagement,” he quipped, as if crypto were the latest gossip at a Victorian tea party. ☕

“It’s a topic that’s of high engagement.”

ETF expert Nate Geraci, ever the sage, remarked, “Hope you’re paying attention.” Schwab, that grand maestro of finance, currently offers crypto ETFs and Bitcoin futures, with plans to introduce spot crypto trading in 2026. Oh, the anticipation! ⏳

A Crimson October for BTC

Bitcoin, that mercurial muse, has historically danced to the tune of October gains, with ten out of the past twelve Octobers ending in triumph. Yet, this month, the asset has lost 6%, according to CoinGlass. A tragic break from tradition, indeed! 😢

Fear not, dear reader, for analysts remain as confident as a dandy with a new cravat, predicting that “Uptober” will resume its glorious march. Historical gains, they assure us, typically arrive in the second half of the month, and anticipated Federal Reserve rate cuts may yet fuel the rally. Until then, let us sip our champagne and watch the drama unfold. 🥂

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2025-10-18 08:40