Crypto ETFs hemorrhage $607M in single day of record outflows

The bullish tide that carried Bitcoin and Ethereum to hit new records in August has turned ￰0￱ crypto-linked exchange-traded funds (ETFs), which were one of the major reasons behind the market surge, are now witnessing huge ￰1￱ ETFs posted their second-worst day on record and their fifth straight session of ￰2￱ 5 saw Ether ETFs hitting almost $447 million in net ￰3￱ comes after posting its biggest outflow of $465 million on August 4. However, Ethereum price has surged by over 15% in the last 30 ￰4￱ ETFs drop $160M in outflows The sell-off saw crypto funds (both Bitcoin and Ether) lose $607 million in a ￰5￱ reversal comes after a blockbuster August, when the same products attracted $3.2 billion combined inflows.

However, Ether ETFs had hit $3.87 billion by themselves for the month, and it was BTC ETFs that dragged the momentum with $751 million of ￰6￱ ETFs saw $160 million in outflows on Friday as all twelve listed products failed to post ￰7￱ funds recorded $227.5 million outflow on the previous ￰8￱ 21Shares’ ARKB led the bleed with $125.5 million of withdrawals, while Fidelity’s FBTC logged $117.5 million in ￰9￱ BlackRock’s IBIT managed to attract fresh money with $134.8 million of ￰10￱ price dropped marginally over the last 24 hours to trade around $110,700. Its trading volume remains stable at $49 ￰11￱ has seen a rollercoaster ride lately as it gained more than 2% in the last 7 days while dropping about 5% over the past 30 ￰12￱ sheds $400 million Data shows BlackRock’s ETHA led the Ether ETFs’ pullback on September 5, hemorrhaging $309.8 ￰13￱ sell-off spread to Grayscale’s ETHE and Fidelity’s FETH with outflows of $51.7 million and $37.7 million, ￰14￱ spot ETFs outflow on September 5.