Cryptocurrency Exchange-Traded Funds (ETFs) experienced significant outflows on the last trading day, marking a pivotal moment in the crypto investment sector. According to the latest data, both Bitcoin 
$78,815 and Ethereum 
$2,374 ETFs saw substantial outflows amounting to a net total of $244 million on September 23rd. Specifically, Bitcoin ETFs had withdrawals of $103.61 million, while Ethereum ETFs recorded outflows of $140.75 million.
Major Withdrawals from Bitcoin ETFs
For Bitcoin-based spot ETFs, the outflows were substantial, totaling $103.61 million on September 23rd. Among these, Fidelity’s FBTC led the pack with a loss of $75.56 million. Ark & 21Shares’ ARKB faced a withdrawal of $27.85 million, and Bitwise’s BITB saw outflows of $12.76 million. In contrast, only two ETFs managed to attract investments, with Invesco’s BTCO and BlackRock’s IBIT receiving inflows of $10.02 million and $2.54 million, respectively.
Despite a rise in total trading volume to $3.16 billion, the net asset size of Bitcoin ETFs decreased to $147.17 billion. Currently, these ETF assets represent 6.6% of Bitcoin’s market capitalization.
With the latest figures, Bitcoin was trading at $112,603, bearing a weekly loss of 3.4%. Its market capitalization dropped to $2.23 trillion, accompanied by a reduced daily trading volume of $48.87 billion.
Significant Outflows from Ethereum ETFs
Spot Ethereum ETFs faced more severe outflows than Bitcoin ETFs, with a total withdrawal of $140.75 million recorded for the day. Fidelity’s FETH led with $63.40 million in outflows, followed by Grayscale’s ETH ETF with $36.37 million and Bitwise’s ETHW ETF with $23.88 million. Grayscale’s ETHE ETF also observed a withdrawal of $17.10 million.
None of the nine Ethereum ETFs received new investments, and the trading volume decreased to $1.61 billion, with the net asset size dwindling to $27.48 billion. This amount corresponds to 5.45% of Ethereum’s market cap.
At the time of reporting, Ethereum was priced at $4,155.29, having a market cap of $502.09 billion, while its daily trading volume decreased to $38.58 billion.
On September 22nd, Bitcoin and Ethereum ETFs together faced outflows totaling $439.12 million. The persistence of ETF outflows has led to the current month being referred to as “Red September.”
