The average spot bitcoin ETF buyer sits near a $90,000 cost basis, leaving most investors roughly flat.
https://www.coindesk.com/markets/2025/11/19/blackrock-s-bitcoin-etf-ibit-posts-record-one-day-outflow-of-usd523-2-million
BlackRock’s Bitcoin ETF, IBIT, Posts Record One-Day Outflow of $523.2 Million

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