On October 13, both U.S. spot ETFs, Bitcoin, and Ethereum recorded heavy outflows. According to data from SoSoValue, Bitcoin ETFs withdrew $326.52 million, while Ethereum ETFs transferred $428.52 million.
With only six out of twelve ETFs posting action, Bitcoin ETFs recorded a net outflow of $326.52 million. BlackRock IBIT was the only ETF to post $60.36 million in inflows for the session. Following ETFs posted outflow:
Despite moving off a heavy amount, Bitcoin ETFs recorded $6.63 billion in trading value with total net assets of $157.18 billion. This marks 6.81% of the Bitcoin market cap.
Ethereum ETFs posted a sell-off of $428.52 million, with no inflows for the day. Seven out of nine ETFs posted action for the day.
Total trading volume in Ethereum ETFs reached $2.82 billion with net assets of $28.75 billion. This represents 5.56% of the Ethereum market cap.
Bitcoin is trading at $113,499.05, after a 1.3% drop in 24 hours. Its market cap has reached $2.260 trillion, which also dipped this week. The daily trading volume has reached $69.02 billion, showing a slow market.
Meanwhile, Ethereum is priced at $4,142.32, with a market cap of $500.809 billion. Its trading volume has dropped to $48.3 billion, marking a 21.25% dip compared to the previous day.
Why BTC and ETH prices plunged:
After President Donald Trump threatened new tariffs on imports from China, investors feared a trade war between the two countries. This triggered investors to sell off risky assets like tech stocks and crypto, which resulted in a crypto market crash.
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