A little more than a week out from the launch of those spot Bitcoin ETS and despite the hype,

price of Bitcoin has fallen about 11% since then. Our dear debauso on what that might mean for the future of those funds in today's

tech check. Hey, D. Hey, girl, good morning. The results, so far, they're

underwhelming. The price of Bitcoin itself has fallen to its lowest level since SEC

approval underperforming other asset classes like gold bonds and global equities.

As for inflows, a little underwhelming here too.

Investors poured nearly $2 billion into the new EDFs in the first three days and that falls short of aggressive estimates from market players

that range from three billion dollars on its first day alone to 55 billion dollars over five years.

Now the early winners and losers they're emerging to a week on.

Black Rock and Fidelity are driving early consolidation with nearly 70% of all inflows.

Grayscale meanwhile has seen more than one and a half billion dollars in outflows perhaps

further pressuring it to lower fees. Remember it has the highest fees by far.

Now of course it is still very early days and the Bitcoin price rallied some 160% last year in the lead up to E.T.F. approval.

But history tells us that thematic E. T. F.

They usually launch at peak hype and peak price.

The first futures, Bitcoin E.F.

Which launched in October of 21.

That topped a billion dollars in assets in just two days.

Those who bought in though,

they also got on near Bitcoin's peak

when 1 Bitcoin was worth about $61,000.

Now that E.T.F. fell 72% in its first year and today is still down about 50% since that launch.

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