Happycoin.club - Traders began to actively get rid of shares of spot ETFs based on Bitcoin and Ethereum (ETH), issued by Hong Kong companies.

On May 13, a record was set for the largest outflow of capital from cryptocurrency funds. During the day, derivatives lost $39.3 million. Bitcoin-based investment instruments lost $32.7 million, and Ethereum-based products lost $6.6 million.

Since the launch of trading in derivatives units on April 30, the outflow of capital amounted to $20.9 million, and the inflow reached $18.4 million. Accordingly, the capitalization level of the funds decreased by only $2.5 million. Prior to the listing of ETF shares, their issuers managed to attract funding in the amount of $292, 7 million. Thus, the amount of assets invested in these investment instruments has so far decreased by only 0.85%.

Capital inflows and outflows from Hong Kong Bitcoin ETFs and Ethereum ETFs

In the United States, a negative trend in the Bitcoin ETF market was observed from May 7 to May 10. During this period, the market capitalization of the funds decreased by $163.5 million. Moreover, on May 1, when the price of BTC dropped to the bottom around $56,000, ETFs lost their maximum amount since March 18 - $563.7 million. Obviously, traders were getting rid of derivatives shares due to the fall in their exchange rate caused by a decrease in the price of Bitcoin.