Tuesday, 02 January 2024 12:17 GMT

Bitcoin And Ethereum Etfs See Record $9 Billion Of Outflows


(MENAFN- Yolo Wire) Cryptoprowl / U.S.-listed spot Bitcoin (CRYPTO: $BTC) and Ethereum (CRYPTO: $ETH) exchange-traded funds (ETFs) have seen record outflows over the past four months that totaled $9 billion U.S.

Investors have pulled $6.39 billion U.S. from Bitcoin ETFs over the past four months, the largest amount and longest losing streak since the funds launched in early 2024.

At the same time, market data shows that Ethereum ETFs have seen $2.76 billion U.S. of outflows over the past four months, also a record.

The massive outflows indicate that institutional investors are losing their appetite for digital assets as their prices steadily decline, say analysts.

Bitcoin, the largest cryptocurrency by market capitalization, peaked at just over $126,000 U.S. last October and has since been cut nearly in half to $65,000 U.S.

Ethereum has had a steeper fall, declining more than 60% from an all-time high of just under $5,000 U.S. last August.

Institutional investors had piled into Bitcoin and Ethereum ETFs when they debuted in 2024, seeing them as a safe and profitable way to play the trade in cryptocurrencies.

Unfortunately, demand among institutional investors appears to have collapsed as the market for digital assets crashes.

Recent days have seen some sporadic inflows back into Bitcoin and Ethereum ETFs, but analysts say that is mostly retail investors buying the dip as institutions continue to sell.

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Yolo Wire

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