The negative performance of BTC-ETFs today can be attributed to several factors. Firstly, the overall market reaction to the recently approved spot bitcoin ETFs was mixed. While the approval of these ETFs was a significant event for the crypto industry, indicating potential growth and mainstream acceptance, it also brought to light some concerns about the speculative and volatile nature of bitcoin. This sentiment was particularly emphasized by SEC Chairman Gary Gensler, who pointed out the risks and criminal utility of bitcoin, which might have influenced investor confidence negatively [oai_citation:1,SEC approved spot bitcoin ETFs. What happens now? | American Banker](https://www.americanbanker.com/news/sec-approved-spot-bitcoin-etfs-what-happens-now).

Additionally, the broader stock market experienced some volatility, influenced by a hotter than expected Consumer Price Index (CPI) report. This report raised new questions about the Federal Reserve's path on interest rates, affecting various sectors, including cryptocurrency-related stocks and ETFs. The initial excitement around the trading of spot bitcoin ETFs was overshadowed by these broader economic concerns, leading to a reversal of earlier gains in cryptocurrency-related stocks [oai_citation:2,Stock market news today: Stocks recover losses after hot inflation print](https://finance.yahoo.com/news/stock-market-news-today-stocks-recover-losses-after-hot-inflation-print-194456529.html).

It's important to note that the impact of new financial products like bitcoin ETFs on the market can be complex and influenced by a variety of factors, including broader market trends, regulatory news, and investor sentiment.#BTCETFSPOT