Crypto
Bitcoin ETFs See $462M in Net Selling Ahead of Fed Rate Decision
US spot Bitcoin ETFs suffered their worst week in months, shedding $462.7 million in net outflows between September 8 and 11.
This reversal is striking given that just a week prior, these products saw nearly $987 million flow in, including a single-day influx of about $730.9 million on September 3.
Markets are now pricing in an approximately 87% chance of a 25-basis-point rate hike at the upcoming FOMC meeting, which is prompting institutional investors to pull back from risk assets.
The ARK 21Shares' ARKB was particularly hard hit, accounting for roughly $164.3 million of the daily outflows on September 10.