Bitcoin ETFs bleed $236 million on first day of September

US spot Bitcoin ETFs registered a net outflow of $236 million on 1 September. That is a notable reversal from the $217 million in inflows on the last day of August. Spot Ethereum ETFs, by contrast, saw inflows for the twelfth consecutive day, this time totalling $10.95 million.

Bitcoin is available at OKX and Bybit.

In short:

• Spot Bitcoin ETFs saw a net outflow of $236 million on 1 September.
• Spot Ethereum ETFs recorded net inflows of $10.95 million for the twelfth day in a row.
• Bitcoin is trading around $76K, down 1.6% in the past 24 hours.

Significant outflow from Bitcoin ETFs on day one of September

While August ended relatively positively for Bitcoin ETFs, September immediately brought headwinds. According to SoSoValue data, net outflows on 1 September amounted to $236 million. That is a significant reversal for products that had attracted $924 million in a week as recently as the previous week.

The timing is notable: September historically ranks as Bitcoin’s weakest month. At the time of writing, the price stands at $76K, down 1.6% in 24 hours.

Ethereum ETFs extend twelve-day streak

Not all ETF news is negative. Spot Ethereum ETFs have attracted capital for the twelfth day in a row. On 1 September, net inflows came to $10.95 million. The streak shows that institutional interest in Ethereum is holding steady, even while Bitcoin remains under pressure.

Whether the Bitcoin ETF outflows are a temporary phenomenon or the start of a broader correction remains unclear for now. According to SoSoValue, the total net value of all spot Bitcoin ETFs combined currently stands at $97.12 billion.