Bitcoin and Ethereum ETFs Suffer Record Outflows Amidst Market Downturn

The recent downturn in the prices of Bitcoin (BTC) and Ethereum (ETH) is impacting US Exchange Traded Funds (ETFs). According to data from Farside Investors, spot Bitcoin ETFs experienced a record $566.4 million outflow yesterday, marking the largest single-day outflow since August 1st. This decline also affected Ethereum ETFs as outflows reached $108.3 million, continuing for a fifth consecutive day of negative flows.