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Bitcoin ETFs Record $89.7m outflow, Ethereum ETFs lose $15.8m

POSTED ON August 12, 2024 •   Business      BY Abiodun Saheed Omodara
Bitcoin l Credit: Nairametrics

The two largest cryptocurrency exchange-traded funds (ETFs) experienced net outflows on Friday. 

The 12-spot Bitcoin ETFs saw a $89.7 million outflow, while the 9-spot Ethereum ETFs witnessed a $15.8 million outflow. 

The Bitcoin ETF outflow came after two consecutive days of inflows, while the Ethereum ETFs recorded their third straight day of outflows. 

Key details include Grayscale's Bitcoin Mini trust leading the Bitcoin ETF inflows, and Blackrock's ETHA leading the Ethereum ETF inflows. 

The total value traded for the day was $1.27 billion, with Bitcoin trading at $61,082, down 17.2% from its all-time high.

Ethereum is currently trading at $2,677, up 1.8% in the last 24 hours, with a high of $2,707 and a low of $2,197. 

The cryptocurrency is 45.1% below its all-time high of $4,878. Despite outflows from their ETFs, both Bitcoin and Ethereum have increased in price value in the last 24 hours, rising by 0.4% and 1.8% respectively.

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