Bitcoin ETFs Bleed Over $147 Million as Institutional Demand Weakens

U.S. spot Bitcoin exchange-traded funds (ETFs) have lost over $147 million in two consecutive sessions, according to data from Onchain Lens.

The combined outflows on September 8 and 9 totaled $147.3 million, following a strong start to the month where institutional demand was high.

This comes after Bitcoin rallied back above $80,000 amid renewed optimism surrounding monetary policy and cryptocurrency regulation, attracting substantial fresh capital earlier in the month.

However, institutional demand weakened sharply after the long U.S. holiday weekend, with Grayscale's GBTC making up a significant portion of selling with roughly $65.5 million in outflows.