ETFs & Mutual Funds
Bitcoin and Ether ETFs Battered Amid Global Selloff in Equities
- Bitcoin and Ether ETFs get dumped as crypto prices plunge
- Stocks extend weekly losses, with S&P 500 down in Monday
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Investors dumped shares of Bitcoin and Ether exchange-traded funds in droves as the world’s two largest cryptocurrencies plunged 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 outflows in about three months on Friday.