Crypto ETFs hemorrhage $607M in single day of record outflows
The bullish tide that carried Bitcoin and Ethereum to hit new records in August has turned sharply. Even crypto-linked exchange-traded funds (ETFs), which were one of the major reasons behind the market surge, are now witnessing huge inflows. Ether ETFs posted their second-worst day on record and their fifth straight session of outflows.
September 5 saw Ether ETFs hitting almost $447 million in net outflows. This comes after posting its biggest outflow of $465 million on August 4. However, Ethereum price has surged by over 15% in the last 30 days.
Bitcoin ETFs drop $160M in outflows
The sell-off saw crypto funds (both Bitcoin and Ether) lose $607 million in a day. The reversal comes after a blockbuster August, when the same products…
