Summary
On September 22, U.S. spot Bitcoin ETFs recorded a net outflow of approximately US$363.17 million, with Fidelity’s FBTC leading the withdrawals at ~US$276.68 million. Meanwhile, Ethereum spot ETFs also saw notable outflows: about US$75.95 million, with all nine ETF products posting no inflows. The scale of these outflows suggests a shift in institutional sentiment or short-term repositioning.
Verified Key Figures
| Asset Class | Net Outflow (Sep 22) | Leading Contributor / Notes |
|---|---|---|
| Bitcoin Spot ETFs | ~US$363.17 million | Fidelity FBTC outflow at ~US$276.68 million |
| Ethereum Spot ETFs | ~US$75.95 million | All nine funds posted outflows; no inflows recorded |
For instance, Coinpedia reports precisely these numbers for September 22: Bitcoin ETFs outflowing ~US$363.17M, Ethereum ETFs ~US$75.95M, and a leading outflow from Fidelity’s FBTC.
MEXC also notes that none of the nine Ethereum ETF products registeredq inflows that day.
Discrepancy with the Original Claim
The claim you asked about (“US$104M outflow for Bitcoin, US$141M Ethereum, FBTC US$75.55M”) is not supported by these sources. The data instead indicates:
- Bitcoin ETF outflows were much larger than US$104M (≈ US$363M).
- Ethereum ETF outflows (~US$75.95M) were much smaller than the claimed US$141M.
- FBTC outflow is reported as ~US$276.68M, not US$75.55M.
It’s possible the figures you saw may have been based on a different time zone, subset of ETF products, or misreported data.
What This Means & Why It Matters
- Institutional Sentiment Shifts: Such large outflows indicate some institutions are pulling back exposure, possibly due to macro uncertainty, price volatility, or profit taking.
- Liquidity & Price Impact: With regulated6 vehicles like ETFs, large redemptions can lead to selling pressure on the underlying assets (Bitcoin, Ethereum).
- Volatility Risks: Rapid ETF outflows may exacerbate price swings, particularly in times of weak market sentiment or economic headwinds.
- ETF Differentiation Matters: The prominence of FBTC in outflows suggests that some ETF products might be more sensitive to investor behavior, fee structures, or redeemability features than others.
What to Watch Next
- Follow-up ETF flow reports (e.g. from The Block, Bloomberg, Farside) for confirmation or revision.
- Daily holdings of spot ETF vehicles, to see how much the underlying BTC or ETH balance changed across funds.
- Price reactions in Bitcoin and Ethereum markets following such outflows.
- Macro and regulatory news, which may drive further flow reversals or momentum (e.g. interest rate guidance, crypto regulation).
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