On September 18, spot Bitcoin exchange-traded funds (ETFs) in the U.S. recorded net outflows amounting to $52.83 million, breaking a streak of four days of net inflows that totaled over $500 million.
As per data from SoSoValue, the primary source of these outflows was ARK 21Shares’s ARKB, which saw $43.4 million exit its fund. Additional outflows included Grayscale’s GBTC and Bitwise’s BITB, which reported $8.1 million and $3.9 million in exits, respectively.
Notably, the Grayscale Bitcoin Mini Trust was the sole spot BTC fund to see inflows on that day, accumulating $2.7 million. The other eight spot BTC ETFs, including BlackRock’s IBIT, experienced no movement.
The overall trading volume for these investment products fell by 28%, decreasing from $2.27 billion on September 17 to $1.63 billion the following day. Since their inception, these funds have amassed a total net inflow of $17.44 billion.
At the same time, Bitcoin (BTC) increased by 3% in the last 24 hours, reaching $62,109 at the time of this report, according to price data from crypto.news. This price fluctuation comes in the wake of the Federal Open Market Committee’s recent decision to lower interest rates by 50 basis points. Typically, a reduction in monetary policy tightness enhances demand for risk assets, propelling Bitcoin into a bullish trajectory.
Spot Ether ETFs experience third consecutive outflow
In parallel, the nine U.S.-based spot Ethereum ETFs faced net outflows of $9.74 million on September 18, marking their third consecutive day of outflows. The total daily outflows were mainly from Grayscale’s ETHE, which experienced $14.7 million in withdrawals.
These outflows were somewhat balanced by BlackRock’s ETHA, which reported inflows of $4.9 million on the same day, while the remaining seven ETH ETFs reflected no changes.
Trading volume for these investment products rose to $221.88 million, up from $176.26 million the day before. To date, the spot Ether ETFs have seen a cumulative net outflow of $615.58 million. At the time of publication, Ethereum (ETH) was trading at $2,438, reflecting a 4.8% increase.
