Investors pulled out $17.6 million from crypto exchange-traded funds in the three months ending Sept. 30, according to data compiled by Bloomberg Intelligence. That figure, as of Friday morning, is far below the record $683.4 million withdrawn from such funds in the second quarter. The outflows mainly took place in the past two months. In July, investors poured upwards of $200 million into crypto ETFs.
The more muted crypto-linked ETF outflows in the third quarter aligned with narrower fluctuations in prices. Bitcoin was trading above $19,000 as of 9:45 a.m. New York time, close to its price at the beginning of the quarter. Global markets have sunk in the past few months as central banks around the world raise interest rates to curb soaring inflation. Risk assets like cryptocurrencies have been especially hard hit as recessionary fears rise.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Business Maverick: China to host almost a third of the world’s new coal minesAlmost a third of the new coal mines planned for the world are in China, all but guaranteeing that output will keep rising in the top producer, even as calls grow for the dirty fossil fuel to be phased out to avoid the worst effects of climate change.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: S&P 500 Heads for Grim Quarterly Milestone Last Seen in Early 2009There’s yet another ominous sign for markets -- the S&P 500 Index is headed for its third straight quarter of losses for the first time since 2008-09, when global markets were roiled by a financial crisis.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Dorsey tried to add Musk to Twitter’s board well before dealFormer Twitter CEO Jack Dorsey tried to get Elon Musk onto the social network’s board of directors long before the current drama around whether Musk will buy the company.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Treasury slaps Bain with a ten-year ban from state contracts over ‘corrupt and fraudulent practices’The Treasury’s decision follows that of Britain, which became the first western country to impose a similar penalty on Bain for its role in State Capture during Jacob Zuma’s two-term presidency. There is already pressure for private sector companies to eject Bain from their database of suppliers. Great news, now to get the NPA to prosecute and fine them. When are they blacklisting international thieves like Glencore? What about Steinhof? Ban these 2 thieves from doing any business in SA. Must everything under Ramaphosa be selective? You should name&shame a few private companies that still use BainAlerts
Source: dailymaverick - 🏆 3. / 84 Read more »