Bloomberg: BTC and ETH ETFs suffer heavy losses in global stock market sell-off

BlockBeats news, on August 5th, according to Bloomberg, in the global stock market dumping wave, the prices of the two largest Cryptocurrencies in the world, BTC and ETH, fell to the lowest levels in months, and investors have been dumping ETF stocks of BTC and ETH on exchanges. According to data from CoinShares Ltd., in the week ending August 3rd, there were outflows of $400 million and $146 million for BTC and ETH investment products, respectively. BTC ETF experienced the largest single-day outflow in about three months last Friday. Over the past week, the price of BTC big dumped by about 25%, falling to around $50,000, the lowest level since late February, while ETH performed even worse, falling by over 30% to around $2,200 during the same period. On Monday, the U.S. stock market continued its weeks-long fall, with the Nasdaq 100 index and the S&P 500 index falling by 3.7% and 3.3%, respectively, as of 9:57 a.m. New York time.