Bitcoin ETFs Bleed $462M as Ethereum Sees Unexpected Surge
Bitcoin ETFs saw a significant reversal in September after a strong August rally. Spot Bitcoin [BTC] ETFs recorded $3.52 billion in inflows last month, but this September they experienced net outflows of $462.73 million from the 8th to the 11th.
The week started on a negative note, with a cumulative net outflow reaching $46.6 million due to Fidelity's $17.1 million, Invesco's $4.7 million, and Grayscale GBTC's huge $65.5M outflow.
On 9th September, selling pressure became stronger, with BlackRock experiencing a $19.5 million outflow, ARKB losing $78.0 million, and Grayscale GBTC losing another $27.2 million, bringing the net outflows to $120.2 million.
The situation deteriorated further on 10th September, with a total of $282.7 million in net outflows. However, on 11th September, things were slightly better, with only $13.2 million in net outflows.