BTC-ETF Outflows Exceed $465 Million Amid Bearish Market Sentiment
According to data from SoSoValue, on Tuesday, September 23, the net outflow from 12 spot Bitcoin ETFs in the United States totaled $103.61 million. Over just two consecutive negative days, the funds lost nearly $467 million.
The majority of outflows that day came from Fidelity’s FBTC, with investors pulling $75.56 million. Next were ARK 21Shares ARKB and Bitwise BITB, which saw losses of $27.85 million and $12.76 million, respectively, in a single trading session.
However, Invesco’s BTCO managed to offset part of the overall outflow, attracting nearly $10.02 million from investors. BlackRock’s IBIT also recorded a modest inflow of $2.5 million. The remaining seven BTC-ETFs posted zero results.
Analysts link the outflows from the funds to bearish sentiment in the crypto market, which pushed Bitcoin down first to $115,000 and then to $111,369.
Despite recording outflows for the second day in a row, September has been a strong month for Bitcoin ETFs. In the first month of autumn, ETFs attracted more than $3 billion, a significant improvement over August, when investors withdrew over $750 million.
See also: "ADA Price Approaches Breakout That Could Push It to $1"
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