Bitcoin ETFs Post $147M Outflow in Two Sessions
In brief
- Bitcoin ETFs shed $147 million over two consecutive trading sessions
- September 9 and 8 outflows: $100.7 million and $46.6 million respectively
- September month-to-date inflows reach $622.7 million despite recent weakness
- Grayscale GBTC accounted for roughly $65.5 million of outflows
Outflow Details
U.S. spot Bitcoin ETFs extended their losing streak to two consecutive sessions, with Bitcoin ETFs recording $100.7 million in net outflows on September 9 and $46.6 million in withdrawals on September 8. The selling pressure concentrated in a few products. Grayscale's GBTC recorded roughly $65.5 million in outflows, while BlackRock's IBIT attracted around $10.7 million and Bitwise's BITB took in approximately $14.5 million in inflows.
The pullback comes as institutional demand weakened sharply after the long U.S. holiday weekend. Broader market headwinds also weighed on sentiment. Bitcoin slipped below the psychologically important $80,000 level earlier this week, and investors remained cautious ahead of the Federal Reserve's upcoming monetary-policy decision. Rising Treasury yields and surging oil prices contributed to significant market turbulence, with Brent crude moving above $100 per barrel on Wednesday and fueling inflation concerns.
Bigger Picture
The two-day outflow streak doesn't erase September's strong start. Bitcoin ETFs recorded approximately $622.7 million in month-to-date inflows, driven largely by Bitcoin rallying back above $80,000 amid renewed optimism surrounding monetary policy and cryptocurrency regulation. The recent pullback signals caution rather than capitulation—institutional flows remain positive on the month, even if the daily trend has turned negative.
"They have now shed more than $147 million, which can be potentially interpreted as a sign of waning institutional demand."
Macro uncertainty appears to be the driver. The Fed's policy stance and energy-market dynamics are reshaping risk appetite across asset classes, and Bitcoin ETFs are reflecting that hesitation. Still, the month-to-date picture suggests that conviction hasn't vanished entirely.
