ETFs Expose Wall Street's $16 Billion Bitcoin Loss as Deadline Looms
Wall Street's Bitcoin ETF holdings are sitting on an estimated $16.33 billion in unrealized losses, according to Bloomberg Intelligence.
The average net cost basis of US spot Bitcoin ETF capital is roughly $82,249, leaving the position about 22% underwater.
The August 14 deadline for large investment managers to disclose their June 30 Bitcoin ETF positions will provide insight into whether institutional adoption built a durable holder base or moved momentum capital into a regulated wrapper.