Btc hit near-term price peak on Oct 6th…
Has since fallen ≈ 45% thru yesterday.
Over same period, spot btc ETFs *only* have $5.4bil outflows.
Total spot btc ETF AUM on Oct 6th ≈ $160bil
Total AUM today ≈ $80bil
ETFs didn’t crash btc.
ETF investors aren’t ones panicking.