Bitcoin and Ether ETFs hit amid global selloff in stocks


Investors dumped shares of Bitcoin and Ether exchange-traded funds as the world's two biggest cryptocurrencies fell to their lowest price levels in months amid a global equity selloff.

Bitcoin and Ether investment products saw outflows of $400 million and $146 million, respectively, in the week ended Aug. 3, according to CoinShares Ltd. data. Bitcoin ETFs had their worst one-day outs in about three months on Friday.

This marks the first loss for Bitcoin funds in five weeks, ending a streak of EARNINGS that brought in more than $3.5 billion. Exits for Ether ETFs mark a fortnight GENERATION losses that now total almost $500 million.

Bitcoin's price has sunk about 25% in the past week to around $50,000, its lowest level since late February, while Ether has fared even worse, falling more than 30% over the same time period in about $2,200.

Stocks extended a streak of weekly losses Monday, with the Nasdaq 100 and S&P 500 down 3.7% and 3.3%, respectively, at 9:57 a.m. in New York.



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