Like the first crypto-carrying moon lander, the first week of Bitcoin (CRYPTO: BTC) exchange-traded funds (ETFs) proved to be a bust.
Two funds, BlackRock Inc. (NYSE: BLK) and ProShares, surpassed the $1 billion mark in assets under management, but the much-anticipated Bitcoin price surge remained elusive.
As "Mad Money" host Jim Cramer put it: “Nasty beginning to the bitcoin selloff. Someone's probably going to try to make a stand here but... you can't have an asset double in value by hundreds of billions of dollars in anticipation of an ETF and then almost no one shows up."
While many investors continue to grow frustrated — especially Friday with the cryptocurrency's price falling below the key $42,000 level — analysts are urging patience.
James Seyffart of Bloomberg took to social media to remind his followers what a "healthy ETF growth" pattern looks like.
His chart ...