Crypto ETPs Post $1.4B Weekly Losses as Bitcoin and Ether Slide
TLDR
- Crypto ETPs experienced $1.4 billion in outflows last week, ending a two-week inflow streak.
- Bitcoin dropped from over $116,000 to $112,000, leading to more than $1 billion in ETP outflows.
- Ether fell below $4,100 midweek and recorded the second-largest weekly outflows from Ether ETFs.
- A shift in investor sentiment followed Jerome Powell’s dovish tone at the Jackson Hole Symposium.
- Altcoin ETPs showed mixed results with XRP and Solana seeing inflows while Sui and Toncoin faced losses.
Last week, global cryptocurrency investment products saw heavy outflows of $1.43 billion. This marked a sharp reversal following two weeks of inflows totaling $4.3 billion. The losses coincided with falling Bitcoin and Ether prices,…
