Bitcoin and Ethereum ETFs Face Outflows as Market Confidence Drops, Prices Decline Sharply

• Bitcoin spot ETFs saw $170 million in outflows, bringing their total net asset value below $50 billion on September 6.
• Ethereum spot ETFs showed mixed results with a $5.98 million net outflow, while BlackRock’s ETHA fund had an inflow of $4.72 million.
• Over 24 hours, Bitcoin dropped to -4.5%, while Ethereum fell to -8.0%, reflecting broader market declines following ETF outflows.

Bitcoin spot ETFs recorded notable outflows on September 6, marking an ongoing trend of net outflows for eight consecutive days. The total outflow reached approximately $170 million, pushing the total net asset value below the $50 billion threshold, currently standing at $48.243 billion. 

Major firms like Grayscale and Fidelity saw substantial outflows. Grayscale’s Bitcoin ETF (GBTC) experienced an outflow of $52.871 million, while Fidelity’s Bitcoin ETF (FBTC) recorded an even larger outflow of $85.52 million.

The persistent outflows highlight a trend of declining confidence in Bitcoin spot ETFs, with cumulative losses impacting the overall market value. Notably, the steady outflows from key funds signal possible shifts in investor sentiment. The total net value of Bitcoin spot ETFs falling below the $50 billion mark reflects the broader downturn across crypto markets.

Ethereum Spot ETFs Show Mixed Trends Amid Outflows

While Bitcoin spot ETFs saw steep outflows, Ethereum spot ETFs displayed a mixed performance. The total net outflow for Ethereum spot ETFs on September 6 was approximately $5.984 million, indicating a relatively smaller outflow compared to Bitcoin. 

Grayscale’s Ethereum ETF (ETHE) recorded the largest outflow for Ethereum ETFs, with $10.7028 million. However, BlackRock’s Ethereum ETF (ETHA) managed an inflow of $4.7188 million, balancing some of the losses.

Currently, the total net asset value of Ethereum spot ETFs stands at $6.094 billion. This figure demonstrates a relatively stable market, although the outflow from Grayscale suggests that larger institutional players are withdrawing funds from Ethereum-based products as well.

Performance of Bitcoin and Ethereum Reflects Broader Decline

Over the 24-hour period of September 6, both Bitcoin (BTC) and Ethereum (ETH) suffered noticeable price declines, following the ETF outflows. Bitcoin experienced a drop of approximately -4.5% at its lowest point. 

It later recovered slightly, hovering around a -4.0% decline by the end of the period. Ethereum, however, saw a sharper decline, dropping to -8.0% before staging a modest recovery. By the close of the charted period, Ethereum remained near a -6.0% decline.