Bitcoin ETFs see three days in a row of $283 million outflow

Bitcoin spot ETFs saw net outflows for the third day in a row on 10 September. In total, $283 million left these funds, while Bitcoin itself trades around $77K at the time of writing, a decline of 1.2% in 24 hours. Ethereum spot ETFs were not spared either: $29.76 million flowed out of them.

Bitcoin is available at OKX and Bybit.

In brief:

• Bitcoin spot ETFs recorded net outflows of $283 million on 10 September, the third day in a row.
• Ethereum spot ETFs simultaneously saw an outflow of $29.76 million, while BlackRock’s ETHB was the only one to book an inflow.
• Bitcoin falls 1.2% and stands around $77K, while total assets in Bitcoin ETFs amount to $97.49 billion.

Three days in a row of outflows for Bitcoin ETFs

According to data from Wu Blockchain, a total of $283 million flowed out of Bitcoin spot ETFs on 10 September (US time). That is the third consecutive day of net outflows, a pattern that points to declining willingness to buy among institutional investors.

The total assets invested in Bitcoin ETFs currently amount to $97.49 billion. That decline fits a broader trend that was already visible earlier after the strong month of August, when inflows abruptly turned into outflows.

BlackRock’s Ethereum ETF the only exception

Outflows also dominated among Ethereum spot ETFs. On balance, $29.76 million left these funds. BlackRock’s Ethereum ETF, under the ticker ETHB, was the only exception and attracted $13.95 million in new money.

The sustained outflows at both Bitcoin and Ethereum ETFs fit the broader picture of weakening demand that was already visible earlier when ETFs lost $308 million in a single day. Whether the pressure persists depends in part on how the Bitcoin price develops in the coming days.