Bitcoin Spot ETFs Suffer Largest Daily Withdrawal Since July
Bitcoin spot ETFs saw their largest daily withdrawal in five weeks, totaling $236.46 million on September 1, according to TradingNEWS. This reversal comes after a record-breaking August, where the complex attracted $3.52 billion in net inflows.
The majority of this outflow, $201.18 million or 85.1%, was attributed to BlackRock's iShares Bitcoin Trust (IBIT). In contrast, Fidelity's FBTC lost $43.67 million, and Bitwise's BITB added a positive $8.38 million.
This concentration of flow is driven by the dominance of IBIT in the category, which accounted for 83% of the total inflows on August 20, the single largest day of the month.
The complex-wide swing measured $453.16 million, with the September 1 outflow representing approximately 3,066 coins at a price of $77,118.98. This is equivalent to 6.8 days of newly mined supply sold into the spot market in one session.