US spot Bitcoin ETFs recorded net outflows of approximately $462.7 million between September 8 and 11. This decline follows a period of growth, as the previous week saw inflows of nearly $987 million, including a single-day peak of $730.9 million on September 3.
Market participants currently estimate an 87% probability of a 25-basis-point interest rate hike at the upcoming FOMC meeting on September 16. Institutional investors are reducing exposure to risk assets in anticipation of this potential policy shift by the Federal Reserve.
The largest single-day outflow occurred on September 10, totaling $282.6 million. The ARKB fund from ARK 21Shares accounted for $164.3 million of this total, while products from Grayscale, BlackRock, and Fidelity also experienced significant redemptions during the period.
The price of Bitcoin adjusted during this timeframe, moving from approximately $77,362 to $76,816. Rising Treasury yields and a strengthening dollar have increased the opportunity cost for holding non-yielding assets, placing downward pressure on the market.
Despite the recent outflows, cumulative net inflows into spot Bitcoin ETFs since their launch in January 2024 exceed $55 billion. Total assets under management for the category are estimated between $97 billion and $148 billion.
