Significant Outflows from Bitcoin and Ethereum ETFs Amid Market Volatility
- U.S. investors have withdrawn $2.6 billion from Bitcoin and Ethereum ETFs since October 29.
- The outflow includes over $1.9 billion from Bitcoin funds and $718.9 million from Ethereum funds.
- Bitcoin prices fell below $100,000 for the first time since May, recently trading at over $103,428.
- Ethereum saw a more than a 5% daily increase to $3,439 but is down by approximately 13% over the week.
- Financial advisor Ric Edelman noted that despite outflows, strong institutional inflows have kept Bitcoin’s price stable.
Investors are pulling back from crypto assets amid macroeconomic uncertainties, including trade tensions and low market liquidity in the U.S., affecting both Bitcoin and Ethereum prices significantly this week.
Despite the withdrawal of $2.6 billion from ETFs, institutional interest has helped prevent a major price crash in these cryptocurrencies.Source)
