Red September: Bitcoin and Ethereum ETFs Bleed $244 Million 📉
In September, both Bitcoin and Ethereum ETFs experienced notable financial losses, marking a consecutive day of significant outflows. According to data from SoSoValue, Bitcoin ETFs witnessed a loss of $103.61 million.
Fidelity’s FBTC was a major contributor to the Bitcoin ETF outflows, recording withdrawals of $75.56 million. Ethereum ETFs were not far behind, experiencing larger outflows totaling $140.75 million.
This trend reflects ongoing turbulence within the cryptocurrency markets, as investors reevaluate their holdings amidst fluctuating market conditions. The substantial withdrawals underscore a cautious sentiment in the crypto investment space during this period.
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