September Flow Battle: Bitcoin ETFs Lose Steam as Ethereum Gains Momentum

Bitcoin's strong August rally has lost momentum in September, with spot Bitcoin ETFs experiencing net outflows of $462.73 million in the past week.

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

On 9th September, selling pressure intensified 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.

The situation worsened on 10th September, with $282.7 million in net outflow, but improved slightly on 11th September with total outflows totaling just $13.2 million.