Fidelity crypto ETF sees $214M exit as Bitcoin funds lose $450M

Bitcoin [BTC] ETFs are in the trenches right now, just as BTC itself dips. Short-term reaction or the start of the dark days?

Here’s what we know.

BTC ETFs are bleeding – Fidelity crypto leads losses

On September 15, investors took out a combined $450.4 million… in a single day!

That is the biggest daily outflow since the end of June. Interestingly, it came just one day after the same funds brought in about $160 million!

Per Farside, Fidelity’s FBTC led the losses, with about $214.8 million. BlackRock’s IBIT recorded about $161.7 million in outflows. Grayscale’s GBTC, ARKB, and BITB also saw money leave their nests.

What’s interesting is the timing. This happened after CLARITY Act failed to move forward in the U.S. Senate. In the fallout, BTC fell about 2.5% on the day, and both developments soured the mood.

Are investors getting cautious very quickly? Perhaps.

The key is to check whether this outflow continues over the next few sessions, or whether buyers step back in.

Not an isolated event?

Glassnode’s seven-day average for spot ETF flows only recently moved back into green pastures. That didn’t last long.

The chart is negative again, and it coincides with the latest dip.

The quick flip is important. ETF demand looked healthy in late August and earlier this month. Now, red bars are back.