Bloomberg: Bitcoin and Ethereum ETFs hit hard in global stock market sell-off

BlockBeats news, August 5, according to Bloomberg, in the global stock market sell-off, the prices of Bitcoin and Ethereum, the two largest cryptocurrencies in the world, fell to their lowest levels in months, and investors sold Bitcoin and Ethereum exchange-traded fund (ETF) shares.

According to data from CoinShares Ltd., in the week ending August 3, Bitcoin and Ethereum investment products saw outflows of $400 million and $146 million, respectively. Bitcoin ETFs experienced the largest one-day outflow in about three months last Friday.

In the past week, the price of Bitcoin has plummeted by about 25% to about $50,000, the lowest level since late February, while Ethereum has performed even worse, falling more than 30% to about $2,200 in the same period.

U.S. stocks continued their weeks of losses on Monday, with the Nasdaq 100 and S&P 500 down 3.7% and 3.3%, respectively, as of 9:57 a.m. in New York.