Ethereum erased its previous gains and lost more than 4% on Friday, while Bitcoin deepened losses following the launch of 11 Bitcoin exchange-traded funds (ETFs) in the United States.
Meanwhile, it was reported that UBS started offering Bitcoin ETFs to its wealth management clients. However, it seems that investors took the long-awaited approval of spot Bitcoin ETFs by the US Securities and Exchange Commission with caution, pulling the prices of the major cryptocurrencies down.
Ethereum sank 4.21% at 6:05 pm ET, trading at $2,509. At the same time, Bitcoin plunged 7.97%, selling for $42,651.
