As reported by CryptoPotato, the crypto market has experienced significant outflows, with Bitcoin and Ethereum ETFs and products seeing withdrawals exceeding $1.2 billion last week. CoinShares disclosed that the total outflows from digital asset products reached $1.7 billion, marking the 17th consecutive day of outflows. This trend has led to a $48 billion reduction in total assets under management for crypto investment products. The U.S. spot Bitcoin ETF market alone accounted for over $980 million in outflows, with BlackRock's IBIT and Fidelity's FBTC experiencing the largest withdrawals. The U.S. spot Ethereum ETF market also faced outflows, losing $189 million last week. These outflows occur as Bitcoin and Ethereum struggle to regain their previous price levels.
Crypto ETFs Face $1.7B Outflows Amid Market Dip, CoinShares Reports
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