Crypto ETPs post $1.4B losses amid recent Bitcoin, Ether sell-offs
Crypto ETPs saw their biggest losses since March as outflows totaled $1.43 billion amid investor sentiment becoming “polarized,” CoinShares’ James Butterfill reported.
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.