Crypto's ETF boom gets $4.5 billion reality check in brutal week

US spot Bitcoin exchange-traded funds have seen over $1.3 billion in withdrawals in the past week, with BlackRock's IBIT alone shedding $860 million and heading for a record seventh straight week of outflows. The broader crypto market has roughly halved from above $4 trillion in early October to about $2 trillion now, and the average Bitcoin ETF investor is sitting on losses of around 40%. Analysts note this is the first major selloff where ETF investors are exiting rather than buying the dip.