In the days ahead of the highly anticipated US FOMC meeting, when the central bank was expected to lower the interest rates, local investors were on a shopping spree for spot Bitcoin ETFs.<\/p>\n
However, that changed when the day arrived.<\/p>\n
CryptoPotato<\/em> reported<\/a> yesterday the impressive streak for the four trading days leading to the FOMC meeting. As mentioned, just over $500 million in net inflows entered the 11 spot Bitcoin ETFs from September 12 to September 17.<\/p>\n However, the landscape was different yesterday. Even though the Federal Reserve reduced<\/a> the key interest rates by 50 basis points, while the general expectations were for a more modest 0.25% cut, the financial vehicles saw $52.7 million in net outflows on the day.<\/p>\n Ark Invest\u2019s ARKB led<\/a> the adverse trend with $43.4 million in net withdrawals. Grayscale\u2019s initial and largest fund (GBTC) was next with $8.1 million, and BITB trailed behind with $3.9 million. The rest saw little to no actual flows, while Grayscale\u2019s smaller and newer fund, BTC, notched $2.7 million in inflows.<\/p>\n BlackRock\u2019s IBIT remains the largest of the bunch, with almost $21 billion in AUM. However, there has been only one day of positive flow for the past three weeks.<\/p>\n In contrast, Fidelity\u2019s FBTC enjoyed a favorable streak of seven consecutive days of net inflows before yesterday\u2019s lack of action.<\/p>\n While the spot Bitcoin ETFs saw more than $500 million in net inflows in the days leading to the Fed\u2019s policy pivot, the Ethereum counterparts didn\u2019t have the same luxury. The withdrawals stood at $15.1 million on Tuesday and $9.4 million on Monday.<\/p>\n Their situation didn\u2019t improve<\/a> much yesterday when investors pulled out $9.8 million overall from the ETH-based products. Grayscale\u2019s ETHE was at the forefront once again, seeing $14.7 million in net outflows.<\/p>\n The only silver lining came from BlackRock\u2019s EHTA, which notched $4.9 million in net inflows. ETHA is the only new financial vehicle tracking the performance of Ethereum that has surpassed the coveted $1 billion milestone since its inception a couple of months back.<\/p>\n Despite the negative days for the Bitcoin and Ethereum ETFs, the underlying assets\u2019 prices skyrocketed to multi-week peaks. BTC neared<\/a> $63,000 earlier today, while ETH came close to $2,450.<\/p>\n The post Net Outflows for Bitcoin, Ethereum ETFs on Fed Rate-Cut Day<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" In the days ahead of the highly anticipated US FOMC meeting, when the central bank was expected to lower the interest rates, local investors were on a shopping spree for spot Bitcoin ETFs. However, that changed when the day arrived. Bitcoin ETF Outflows CryptoPotato reported yesterday the impressive streak for the four trading days leading […]<\/p>\n","protected":false},"author":0,"featured_media":8069,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-8068","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/8068"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8068"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/8068\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/8069"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8068"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8068"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8068"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Consistency for Ethereum ETFs<\/h2>\n