Spot Crypto ETFs See $1.4B Outflows As Bitcoin, Ether Slump
Cryptocurrency investment products reversed an emerging inflow trend, with significant outflows last week as Bitcoin and Ether prices declined.
Global crypto exchange-traded products (ETPs) saw $1.43 billion of outflows last week, ending a two-week inflow run that brought in $4.3 billion, CoinShares reported on Monday.
The outflows came amid Bitcoin (BTC) dipping from above $116,000 on Aug.18 to $112,000 by the end of the trading week, while Ether (ETH) tumbled below $4,100 on Tuesday after starting the week at around $4,250, according to CoinGecko.
Last week’s losses marked the second-biggest outflows on record for spot Ether exchange-traded funds (ETFs), with almost $430 million withdrawn on Tuesday alone, according to…
