New development: Nearly $1 billion withdrawn from Bitcoin and Ether funds in October
U.S.-listed funds that directly track the prices of these two cryptocurrencies recorded approximately $986 million in net outflows from the beginning of the month through October 8. The total comprised $407 million from Bitcoin funds and $579 million from Ether-related funds. This latest increase in withdrawals comes as Bitcoin faces pressure; its price was down 0.68% over 24 hours at the time of checking. These figures point to weaker demand for these investments, but on their own they are not enough to establish a lasting market trend.
U.S.-listed funds that directly track the prices of these two cryptocurrencies recorded approximately $986 million in net outflows from the beginning of the month through October 8. The total comprised $407 million from Bitcoin funds and $579 million from Ether-related funds. This latest increase in withdrawals comes as Bitcoin faces pressure; its price was down 0.68% over 24 hours at the time of checking. These figures point to weaker demand for these investments, but on their own they are not enough to establish a lasting market trend.