Bitcoin and Ethereum ETFs see $591.80 million outflows ahead of Fed decision

  • U.S. spot Bitcoin and Ethereum ETFs recorded $591.80 million in combined net outflows Tuesday.
  • $450.33 million left Bitcoin ETFs, their largest single-day withdrawal since June 25.
  • Ethereum ETFs posted $141.47 million in outflows across 155 trading sessions.

U.S. spot Bitcoin and Ethereum ETFs recorded combined net outflows of $591.80 million Tuesday ahead of the Federal Reserve’s Wednesday decision. Bitcoin ETFs accounted for $450.33 million, their largest single-day withdrawal since June 25, led by Fidelity’s FBTC, BlackRock’s IBIT and Grayscale’s GBTC. Bitcoin ETF trading volume reached $4.35 billion, while combined net assets stood at $95.72 billion and cumulative net inflows totaled $54.86 billion. Ethereum ETFs posted $141.47 million in outflows, their largest single-day withdrawal in 155 trading sessions, with BlackRock’s ETHA and Bitwise’s ETHW accounting for most of the decline. Markets had fully priced a 25-basis-point rate hike into a 3.75%-to-4% target range. Robin Brooks of the Brookings Institution said the meeting posed a challenge for Chair Kevin Warsh because the Federal Reserve may struggle to deliver guidance as hawkish as markets expect. Bitcoin traded near $76,000 and Ethereum near $2,402, with both facing technical resistance ahead of the decision.

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Bitcoin and Ethereum ETFs see $591.80 million outflows ahead of Fed decision - CoinPost Terminal