Bitcoin ETFs Are Eating Wall Street’s Lunch, and Pass the Champagne 🍾
Fidelity’s FBTC is trotting along behind—adorable—with $12 billion in inflows. Cute. Meanwhile, Grayscale’s GBTC has taken “negative equity” as a lifestyle. It’s hemorrhaging money like someone tried to pay rent in Monopoly dollars—$23 billion out the window, to be precise. (Don’t worry Grayscale, we’ve all made regrettable financial decisions. Some of us just didn’t press release them.)





