Bitcoin ETFs see $450 million outflow on 15 September

US spot Bitcoin ETFs recorded a sharp net outflow of $450 million on 15 September. Fidelity’s FBTC accounted for the largest single outflow, at $215 million. Spot Ethereum ETFs also had a tough day, with total outflows of $141 million, of which BlackRock’s ETHA alone accounted for nearly $98 million. The Bitcoin price meanwhile stands at $75.600, a decline of 0.4% over the past 24 hours.

In brief:

• Spot Bitcoin ETFs recorded a net outflow of $450 million on 15 September, led by Fidelity’s FBTC with $215 million.
• Spot Ethereum ETFs saw an outflow of $141 million on the same day, with BlackRock’s ETHA the largest single outflow at $97.9 million.
• Bitcoin trades around $75.549, consistent with a broader correction in the crypto market.

Fidelity and BlackRock lead outflows

According to data from SoSoValue, Fidelity’s FBTC, with an outflow of $215 million, accounted for nearly half of the total loss among Bitcoin ETFs on 15 September. The remaining outflow was spread across other funds.

The picture for Ethereum ETFs was similarly negative. BlackRock’s ETHA recorded an outflow of $97.9 million, which represents more than two-thirds of the total Ethereum ETF outflow of $141 million. That is a striking reversal compared with earlier periods in which Ethereum ETFs recorded inflows and surpassed Bitcoin in that regard.

Bitcoin under pressure after run of mixed ETF figures

The outflows come after a mixed picture in recent trading days. On 14 September, Bitcoin ETFs still attracted $160 million, which makes the outflow of 15 September all the more striking.

The Bitcoin price stands at $75.600 at the time of writing, a decline of 0.4% in 24 hours. There was already pressure around the lower end of the trading range ahead of the FOMC meeting. Bitcoin miners are also operating at a loss at a price around $76.000, which indicates that current levels are problematic for part of the market.

Whether the outflows of 15 September represent a structural turning point or a temporary correction after a period of mixed inflows is difficult to assess on the basis of a single day.