Spot Bitcoin ETFs experienced net outflows totaling $462.73 million over the past four business days, a notable shift from previous weeks of strong investor interest. In contrast, spot Ethereum ETFs have continued to attract net inflows, with a substantial surge recorded on Friday.
Over the past week, Bitcoin ETFs saw net outflows amounting to $462.73 million. This included withdrawals of $46.65 million on Tuesday, $120.24 million on Wednesday, and $282.56 million on Thursday, with an additional $13.29 million withdrawn on Friday. Consequently, the total net inflows for Bitcoin ETFs decreased from $55.62 billion to $55.15 billion as of September 11.
Conversely, spot Ethereum ETFs demonstrated resilience, continuing their trend of net inflows. Despite outflows of $24.29 million on Monday and $29.76 million on Thursday, Wednesday saw inflows of $34.75 million. The week concluded with a strong performance on Friday, when Ethereum ETFs attracted $216.41 million in net inflows, according to data from SoSoValue. This surge contributed to the recovery of total net inflows for Ethereum ETFs from under $10.89 billion to $13.39 billion within the last 10 weeks. Notably, Ethereum ETFs have experienced only one red week out of the previous ten.
Market Context and Price Action
The price action for both Bitcoin and Ethereum reflected volatility during the week. Bitcoin’s price fluctuated, dropping from $77,000 to $76,000 before surging to $79,800, ultimately returning to its starting point by the end of the week. Ethereum also saw significant price movement, trading at $2,440 shortly after the Consumer Price Index (CPI) announcement. It then experienced a rapid increase of over 8% within an hour, reaching $2,670 for the first time since late January, before settling back above $2,500.
Upcoming Events
Looking ahead, the upcoming week is anticipated to be eventful. The US Senate is scheduled to address the CLARITY Act, followed by the Federal Reserve’s announcement regarding its next interest rate decision a day later. These events could potentially influence market sentiment and ETF flows.
Why This Matters
The materials describe a narrow update: Over the past week, spot Bitcoin ETFs saw net outflows totaling $462. The exact duration of the ‘past four business days’ for Bitcoin ETF outflows.
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