Crypto
$310M Etf Outflows Hit Bitcoin and Ethereum
U.S.-based spot Bitcoin and Ethereum ETFs experienced significant outflows on July 24, totaling around $310.62 million.
The majority of this came from BlackRock's IBIT and ETHA products, with the former being responsible for approximately $212 million of the $240.1 million in total Bitcoin ETF redemptions.
Ethereum ETFs saw a combined net outflow of around $70.7 million, mainly from BlackRock's ETHA product.
The outflows coincided with rising geopolitical tensions related to U.S.-Iran relations and a sell-off in equity markets, prompting institutional investors to reduce risk exposure.