Crypto ETFs Suffer Broad Reversal Amid Senate Vote Failure

Crypto ETFs suffered a broad reversal on Tuesday as $450.33 million was pulled from Bitcoin funds, their largest daily exit since June 25. Ether ETFs lost another $141.47 million, while Solana was the only major category to finish with fresh inflows.

The reversal hit crypto broadly as the Senate's failure to advance the Digital Asset Market Clarity Act and a slide in Bitcoin's price below $76,000 likely contributed to the selloff. Fidelity's FBTC led Bitcoin ETF redemptions with $214.75 million, followed by Blackrock's IBIT at $161.69 million.

The Fed's Sept. 16 rate decision could steer Bitcoin flows after the Senate cloture vote failed. Trading value jumped to $4.35 billion, while net assets fell by almost $5 billion to $95.72 billion.