Overview
- Spot Bitcoin ETFs suffered a large net outflow on Sept. 15 when funds recorded about $450.4 million in withdrawals, reversing a one-day rebound and putting fresh downward pressure on Bitcoin prices.
- BlackRock’s iShares Bitcoin Trust has dominated recent demand, taking in roughly $1.08 billion over the past 20 days while legacy Grayscale’s GBTC lost about $254.7 million in the same window.
- US spot Bitcoin ETFs now hold more than 1.28 million BTC, roughly 6% of supply, so big daily creations and redemptions materially affect market structure and short-term price moves.
- Ethereum ETFs drew steadier interest in mid-September, collecting about $196.9 million over the key week and contributing to a strong Q3 for ETH that lifted the ETH/BTC ratio by more than 25%.
- Analysts warn the recent divergence could be rebalancing or profit-taking rather than a lasting shift, and they say Fed policy decisions and stalled US legislation like the CLARITY Act remain the near-term catalysts to watch.