Three more ETFs have been hit by the downturn in prices in Australia, with BTC and ETH funds being delisted.
to support the 42% margin requirements needed to cover risk. At the time, local players forecasted inflows up to $1 billion for the class of assets.institutional crypto products had fallen 34.1%
— to $61.3 million in October. The average daily volumes of almost all the products covered in the report decreased by -24.3% to -77.5% in the month. October's Bitcoin-based products recorded weekly net flows of $8.37 million on average, while short Bitcoin-based products saw the largest outflows, averaging $5.03 million, as per the report.
The downturn in prices has an impact on other crypto exchange-traded funds. In October, the Valkyrie Funds announced its plans to close the Valkyrie Balance Sheet Opportunities ETF, a crypto investment product offering indirect exposure to BTC. The fund was delisted from the Nasdaq Exchange on Oct 31, with remaining investors receiving a cash distribution equal to the net asset value of the held shares. Valkyrie said the decision was part of an ongoing review of products as the firm aims to “best meet client demand.”
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