The total value of cryptocurrencies fell by 3 367 billion due to the fall of bitcoin by 15% and ether by 22% in 24 hours. The sell-off coincided with a broader drop in stock markets due to fears of a recession.
Exchange-traded funds investing in Ether received $107 million in net inflows on the debut day. The largest volume of subscriptions was recorded by BlackRock's Ethereum Trust, which totaled $267 million.