Bitcoin, Ether ETFs post $530M outflows as election gains evaporate
US spot Bitcoin and Ether ETFs shed a combined $530 million Thursday as Bitcoin fell below $76,000 and US stocks tumbled.
US spot Bitcoin and Ether exchange-traded funds (ETFs) posted about $530 million in net outflows Thursday as cryptocurrency markets fell sharply.
Bitcoin (BTC) ETFs recorded $430 million in net outflows while Ether (ETH) funds lost around $100 million, according to SoSoValue data.
The reversal followed $128 million in combined inflows Wednesday, when Bitcoin briefly climbed above $80,000 after Democrats’ victories in the US midterm elections.