Today in crypto, Bitcoin’s sell-off has weighed on spot Bitcoin ETF investor returns, an Abu Dhabi investment vehicle agreed to buy 49% of World Liberty Financial for $500 million, and Ether’s slide left a major crypto treasury holder with billions in unrealized losses.
Bitcoin sell-off pushes IBIT’s dollar-weighted returns into negative territory
Bitcoin’s latest sell-off has likely pushed the aggregate investor position in BlackRock’s iShares Bitcoin Trust (IBIT) into negative territory, based on dollar-weighted return data shared by Bob Elliott, chief investment officer at Unlimited Funds.
According to Elliott’s figures, cumulative, dollar-weighted investor returns slipped slightly below zero as of late January, illustrating the impact of the sharp drop in Bitcoin prices over the weekend. The data suggest that while early IBIT investors may still be in profit, heavier inflows at higher price levels have pulled the overall dollar-weighted performance below zero.
By comparison, IBIT’s dollar-weighted returns peaked at roughly $35 billion in October, when Bitcoin was trading near record highs, highlighting how much performance has shifted alongside the market downturn. The decline in the ETF’s net asset value in recent weeks has aligned with broader price weakness in Bitcoin, helping explain the shift in aggregate investor returns.
UAE firm bought 49% of Trump-linked crypto startup for $500M: WSJ
A UAE-backed investment vehicle quietly agreed to buy nearly half of World Liberty Financial, a cryptocurrency startup linked to President Donald Trump, just days before he returned to the White House, according to a report by The Wall Street Journal.
Aryam Investment 1, an Abu Dhabi entity backed by Sheikh Tahnoon bin Zayed Al Nahyan, signed a deal in January 2025 to purchase a 49% stake in World Liberty Financial for $500 million, the Journal said, citing documents and people familiar with the matter.
Half of that amount was paid upfront, sending $187 million to Trump family-controlled entities, with additional tens of millions flowing to entities tied to co-founders, including relatives of US Middle East envoy Steve Witkoff, per the report.
The agreement was reportedly signed by Eric Trump. The Journal reported that the deal had not been publicly disclosed, despite World Liberty later revealing that the Trump family’s stake had fallen sharply.
Ether sell-off leaves BitMine facing billions in unrealized losses
BitMine Immersion Technologies, a publicly traded crypto treasury company linked to investor Tom Lee, is carrying more than $6 billion in unrealized losses on its Ether holdings following the latest wave of market liquidations.
The losses grew after BitMine acquired 40,302 Ether (ETH) last week, lifting its total holdings to more than 4.24 million ETH, according to data from Dropstab. At current prices, the company’s Ether balance is valued at roughly $9.6 billion, down from a peak of about $13.9 billion in October.
Ether’s decline toward $2,300 has been driven in part by fragile liquidity conditions. Market commentary from The Kobeissi Letter pointed to high leverage and crowded positioning as factors amplifying the sell-off.
