Bitcoin ETFs See $461M Outflows This Week With Zero Inflows

Bitcoin ETFs saw a sharp drop in demand this week, with $462.6 million in outflows, compared with nearly $1 billion in inflows last week. The shift comes as Bitcoin faces fresh pressure after inflation data showed Core CPI at a five-year low of 2.4%. 

With the Federal Reserve’s policy decision due next week, investors are now watching closely to see if demand for Bitcoin ETFs will fall further.

Bitcoin ETF Record Outflows Continue This Week

Monday started on a bearish note for Bitcoin. The price pulled back after its August rally as investors took profits and U.S. Treasury yields rose. Since the start of this week, Bitcoin has fallen from a high of $81,427 to around $76,000, and is now trading near $77,343.

U.S. spot Bitcoin ETFs recorded $462.6 million in net outflows from September 8 to September 11, after U.S. markets were closed on Monday, September 7, for Labor Day.

ETF selling began with $46.6 million in outflows on September 8, followed by another $120.2 million on September 9. The selling then increased sharply on September 10, when investors pulled $282.6 million, the largest single-day outflow of the week.

Bitcoin also came under pressure on September 10, falling below $77,000. The decline came as hotter than expected U.S. inflation data increased concerns that the Federal Reserve could raise interest rates.