This week, U.S. spot Bitcoin ETFs turned noticeably net outflows, contrasting with the previous week’s inflows. Amid rising U.S. Treasury yields and inflation data volatility, Bitcoin retreated from its weekly high, with market focus shifting to next week’s Federal Reserve interest rate decision.
This week, cash flow turned negative.
From September 8 to September 11, U.S. spot Bitcoin ETFs recorded a combined net outflow of $462.6 million. Due to the U.S. Labor Day holiday on September 7, this week’s reporting period included one fewer trading day.
On a daily basis, net outflows amounted to $46.6 million on September 8, $120.2 million on September 9, and expanded to $282.6 million on September 10, the highest single-day outflow of the week. An additional $13.2 million flowed out on September 11, continuing the negative trend.
In comparison, the previous week saw net inflows of nearly $1 billion into U.S. Bitcoin spot ETFs, indicating a noticeable cooling in short-term market sentiment.
BTC has pulled back from $81,400
At the beginning of this week, Bitcoin retraced after its August rally. As some investors took profits and U.S. Treasury yields rose, BTC fell from $81,427 to around $76,000 and is currently trading at approximately $77,343.
On September 10, Bitcoin briefly fell below $77,000. Reports indicated that U.S. inflation data for the day came in higher than market expectations, raising concerns among investors that the Federal Reserve might continue raising interest rates, putting pressure on risk assets.
The article also noted that core CPI is at a five-year low, but market participants remain cautious about the future policy path, leading to a noticeable slowdown in ETF subscription demand.
Main fund experiences redemption
This week, several major products experienced outflows, with ARKB and GBTC facing the most concentrated selling pressure. IBIT saw outflows of approximately $52.5 million, while FBTC saw outflows of approximately $50.7 million.
A few products still maintained net inflows. Morgan Stanley’s MSBT attracted approximately $19.7 million this week, making it one of the few funds with positive inflows.
Market eyes the September 16 interest rate decision.
Next week, the market will focus on the Federal Reserve's interest rate decision on September 16. The original text states that the market currently prices in an 87% probability of a 25-basis-point rate hike.
If macroeconomic pressures persist, short-term volatility in Bitcoin may further intensify. This shift in ETF fund flows is also seen as a direct window into institutional risk sentiment.