🌎 Bitcoin ETFs See $52.83M Outflow Ending Four-Day Inflow Streak

Spot Bitcoin exchange-traded funds in the U.S. experienced net outflows of $52.83 million on Sept. 18, marking the end of four consecutive days of net inflows that attracted over $500 million.

Breakdown of Bitcoin ETF Outflows

According to recent data, the outflows from these ETFs were primarily driven by ARK 21Shares’s ARKB, which saw $43.4 million exit its fund. Additionally, Grayscale’s GBTC and Bitwise’s BITB reported outflows of $8.1 million and $3.9 million, respectively.

Interestingly, the Grayscale Bitcoin Mini Trust was the sole spot BTC fund to record inflows on the same day, bringing in $2.7 million. The remaining eight spot BTC ETFs, including BlackRock’s IBIT, remained neutral.

Trading Volume and Historical Data

The total trading volume for these investment products experienced a 28% decline, dropping from $2.27 billion on Sept. 17 to $1.63 billion on Sept. 18. Since their inception, these funds have accumulated a cumulative total net inflow of $17.44 billion.

Bitcoin Price Movement

Meanwhile, Bitcoin saw a 3% increase in the past 24 hours, reaching $62,109 at the time of writing. This price movement comes in the wake of the Federal Open Market Committee’s recent decision to cut interest rates by 50 basis points. The easing of monetary policy typically boosts demand for risk assets, driving Bitcoin into a bullish trend.

Bitcoin rose 3% in the past 24 hours to $62,109 at the time of writing.

Ethereum ETF Outflows Continue

On the same day, nine U.S.-based spot Ethereum ETFs experienced net outflows of $9.74 million, continuing a three-day outflow streak. The entire daily net outflows were attributed to Grayscale’s ETHE, which saw $14.7 million flow out of its fund.

These outflows were partially offset by BlackRock’s ETHA, which recorded inflows of $4.9 million on the same day. The remaining seven ETH ETFs remained neutral.

Ethereum Trading Volume and Historical Data

The trading volume for these Ethereum investment vehicles increased to $221.88 million from the $176.26 million recorded the previous day. To date, spot Ether ETFs have experienced a cumulative net outflow of $615.58 million.