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Bitcoin and Ethereum ETFs continue to see investors exiting
Bitcoin spot ETFs experienced their 5th consecutive negative flows with net outflows on September 3rd, resulting in a total net asset value of spot ETFs dropping to $52.7 billion. Grayscale Bitcoin Trust (GBTC) and Fidelity's FBTC saw significant outflows, leading to a net outflow of $287.8 million. Ethereum spot ETFs also recorded a net outflow of $47.4 million, with Grayscale's (ETHE) ETF experiencing even larger outflows. The crypto market is under selling pressure due to the decline in Bitcoin and Ethereum prices in the last 24 hours.