Crypto Market Bleeds $592 Million as Clarity Act Fails in Senate

The crypto market took a hit on September 15 as Bitcoin (BTC) and Ethereum (ETH) spot ETFs experienced significant outflows. The combined total of $592 million is the largest single-day outflow for both products in months.

Ethereum funds lost $141.47 million, their worst session since January 30, according to SoSoValue data. This comes after four straight weeks of inflows, which saw ETH products take in $1.94 billion and peak at $824.4 million in late August.

Bitcoin funds gave up $450.33 million, also their worst session since June 25. The outflows were likely influenced by the failure of the CLARITY Act to advance in the US Senate, which pulled prices lower and caused capital to follow.