The purchase cost of 4 million Bitcoins exceeded $85,000, resulting in a paper loss for US spot Bitcoin ETF holdings.

According to Glassnode data, approximately 4 million Bitcoins were purchased at a cost between $85,000 and $118,000, mostly in 2025, and current holders are facing losses. The average cost of holdings in US spot Bitcoin ETFs is approximately $81,500 to $82,000, and as of Monday, the average unrealized loss was approximately $2.63 billion. (Source: Decrypt)