Bitcoin ETFs Bleed $283M Amid Price Slide to $77K
US spot Bitcoin exchange-traded funds (ETFs) saw significant net outflows on September 10, amounting to $282.7 million. This is part of a three-day run of withdrawals as Bitcoin's price slid toward $77,000.
The latest session marked a sharp acceleration in ETF selling, with the funds recording $46.6 million in net outflows on September 8 and another $120.2 million on September 9. This brings cumulative withdrawals over the three sessions to roughly $449.5 million.
ARK Invest and 21Shares' ARKB accounted for the largest share of Thursday's losses, with $164.3 million in outflows. Grayscale's GBTC followed with $38.4 million leaving the fund, while Fidelity's FBTC shed $33.6 million. BlackRock's IBIT, the largest US spot Bitcoin ETF, posted $24.5 million in withdrawals.
Meanwhile, MSBT was the only fund to record positive flows, attracting $4 million during the session. Several other products reported no net movement.