Bitcoin ETFs Hemorrhage $450M in Three Days Amid Intensifying Selling Pressure

The Bitcoin ETF complex experienced significant net outflows in three days from September 8-10. The total figure reached approximately $450 million, nearly halving the previous week's inflows of about $987 million.

This selling pressure accelerated as the week progressed, with a single-day record of $282.6 million on September 10 alone. The ARK 21Shares Bitcoin ETF, ARKB, bore the brunt of this damage, reporting outflows of $164.3 million on that day.

The market's sentiment is reflected in Bitcoin's price action, which traded near or below $80,000 throughout the selloff and dipped closer to $77,000 as redemption pressure intensified.

Since their launch in January 2024, cumulative net inflows for these funds stand at approximately $55.17 billion, with total assets under management nearing $97.5 billion, representing about 6.28% of Bitcoin's entire market capitalization.