Bitcoin’s Crash Below $80,000 Means ETF Holders Now Sit On A $7B Loss
Approximately 10% of all Bitcoin (CRYPTO: BTC)—roughly 2 million coins— held by traditional financial institutions are now at unrealized losses approaching $7 billion, according to Bianco Research’s Jim Bianco.
The Institutional Underwater Problem
The 11 spot Bitcoin ETFs hold 1.29 million BTC worth over $115 billion, representing about 6.5% of circulating supply.
Their average purchase price sits at $90,200—roughly $13,000 above current levels.
Adding to the institutional pain, Strategy (NASDAQ:MSTR) owns 713,000 BTC with an average purchase price of $76,020.
Combined, these institutional holders control 10% of all Bitcoin at a collective average cost of $85,360.
With BTC trading around $77,000, the entire “boomer” cohort sits approximately $8,000 underwater per coin. Bianco warns these holders need “a new narrative” as losses mount.
ETFs Hit Record 10-Day Exodus
The spot Bitcoin ETF complex recorded 10 consecutive days of outflows—the longest losing streak on record.
January alone saw $1.61 billion in …
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