Bitcoin ETFs Hemorrhage $463M as Ether Funds Lure Capital

US spot Bitcoin exchange-traded funds (ETFs) have ended their three-week winning streak, hemorrhaging $462.7 million during the four-session stretch from September 8 to September 11.

The abrupt reversal stands in stark contrast to Ether funds, which pulled in $196.9 million over the same window.

Redemptions hit every single trading day of the holiday-shortened week, with the bleeding starting immediately after Labor Day on Tuesday and Wednesday, followed by a massive $282.7 million outflow on Thursday, the heaviest daily since July.

The ARK 21Shares Bitcoin ETF (ARKB) absorbed the brunt of the selling, losing $234.2 million for the week, while Grayscale's Bitcoin Trust (GBTC) followed with $129.1 million in redemptions.