Crypto ETFs Lose $593M in a Week as Bitcoin, Ether Selling Persists

U.S. crypto ETFs remained under pressure in the week through Oct. 16, with bitcoin funds losing about $229 million and ether ETFs shedding $320 million. The pace of withdrawals eased from the previous week, yet selling spread across all major ETFs as investors continued to reduce risk. Institutional investors pulled roughly $593 million from the five major crypto exchange-traded fund (ETF) categories last week, about 52% less than the $1.2 billion withdrawn a week earlier. Still, every category finished in negative territory. Bitcoin ETFs lost about $228.6 million between Monday and Friday, marking another difficult week after the previous period’s $681 million withdrawal. The path was volatile. Monday opened with a $65.40 million exit before Tuesday delivered a $175.62 million rebound.

First reported by Bitcoin.com News. This page is a short excerpt; the full text is theirs.