Wall Street Rout Triggers $530M Crypto ETF Exodus
Photo: Cointribune
Bitcoin and Ether spot ETFs recorded $530 million in net outflows on November 5, as a stock market collapse wiped out nearly $3 trillion in market capitalization on Wall Street. These funds were supposed to bring crypto closer to traditional finance; they also accelerate the transmission of its panic periods. The twelve American Bitcoin ETFs suffered $430.23 million in net outflows in one session. Funds dedicated to Ether lost an additional $99.98 million. No Bitcoin ETF recorded positive inflows during the day. These outflows accompanied a general decline in risk assets.
Source: Cointribune
