Crypto Investment Products Face Outflows as Bitcoin and Ethereum Prices Slide

Cryptocurrency investment products saw significant outflows on Tuesday, with Bitcoin funds experiencing over 300% more withdrawals than the previous day. Ether ETFs also recorded substantial losses, doubling their outflows from Monday to $422 million. This follows a series of price corrections for both Bitcoin and Ether, marking three consecutive days of total outflows exceeding $1 billion, according to data from Farside Investors. Fidelity Investments led the withdrawals with over $400 million in outflows from its Bitcoin and Ethereum funds, followed by Grayscale Investments, which saw substantial losses for its Bitcoin Trust and Ethereum Trust ETFs.