- U.S. spot Bitcoin ETFs recorded $902.5 million in outflows last week, ending a month-long run of inflows.
- Fidelity’s FBTC led outflows, losing $300.4 million on Friday, while BlackRock‘s IBIT saw $37.3 million leave the fund.
- Analysts cited profit-taking and portfolio rebalancing for the decline, especially as the quarter ends.
- Despite the outflows, analysts noted that long-term institutional interest in Bitcoin ETFs remains stable.
- Bitcoin’s price showed resilience, ending last week up 3.2% for September despite notable volatility.
U.S. spot Bitcoin exchange-traded funds (ETFs) experienced significant outflows last week, totaling $902.5 million and breaking a four-week streak of steady inflows. The outflows occurred as the third quarter ended and affected major funds such as those from Fidelity and BlackRock.
According to data from SoSoValue, last Friday saw the biggest single-day movement, with $418.3 million exiting these funds. Fidelity’s FBTC recorded the highest outflow at $300.4 million, while BlackRock’s IBIT followed with $37.3 million in redemptions.
Shawn Young, chief analyst of MEXC Research, attributed the shift to a combination of profit-taking and portfolio rebalancing as investors closed the quarter. He stated, “The long-term trajectory of institutional adoption remains intact.” Young emphasized that these products are still being “actively traded as part of mainstream portfolio management.”
Despite Bitcoin struggling to match the momentum it had in mid-August—when it hit just above $124,000 according to CoinGecko—the digital asset managed to gain more than 3% during September. After hitting a low of $108,600, Bitcoin rebounded and was trading around $111,800 at the time of the report.
Young explained that the market is in a period of consolidation rather than weakness. He noted, “The market is essentially waiting for a clearer macro signal, and this can be from the Fed, U.S. government policy, or liquidity trends before making its next decisive move.” Historically, Bitcoin has posted strong returns in the fourth quarter, and experts expect increased volatility and renewed investor activity in the months ahead.
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