Bitcoin Slips Amid September Outflows, Ethereum Surges

Bitcoin's strong August rally has taken a hit in September, with Spot Bitcoin ETFs experiencing outflows worth $462.73 million from September 8th to 11th.

The week started on a negative note, with a cumulative net outflow reaching $46.6 million due to outflows from Fidelity's and Invesco's ETFs, as well as Grayscale GBTC, which saw a huge $65.5M outflow.

On September 9th, 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.

Ethereum ETFs took a different route, however, recording a total net inflow of $34.7 million on September 9th, but then experienced selling pressure again on September 10th.

But on September 11th, Ethereum ETFs recorded a strong $216.4 million in net inflows, with BlackRock ETHA contributing $148.8 million and BlackRock ETHB adding $18.3 million.