US spot Bitcoin ETFs saw outflows accelerate on Sept. 10, extending the streak of net redemptions to three consecutive trading days.
Citing Farside Investors data, Blockcast reported that US spot Bitcoin ETFs recorded $282.7 million in net outflows on Sept. 10, Eastern Time. The figure was more than double the $120.2 million posted a day earlier. Across the three trading days from Sept. 8 through Sept. 10, cumulative net outflows reached about $449.5 million.
ARKB posted the largest daily outflow
Among individual funds, ARKB, the product from ARK Invest and 21Shares, led the day’s losses with $164.3 million in net outflows. BlackRock’s IBIT also shifted into negative territory, posting $24.5 million in net outflows.
Fidelity’s FBTC, Bitwise’s BITB, VanEck’s HODL, and Grayscale’s GBTC also recorded redemptions, indicating that the latest round of withdrawals was no longer concentrated in a single fund.
Outflows grew larger each day
According to the data cited in the report, US spot Bitcoin ETFs saw net outflows of about $46.6 million on Sept. 8. That widened to $120.2 million on Sept. 9 and then expanded again to $282.7 million on Sept. 10, bringing the three-day total to $449.5 million.
ARKB showed one of the clearest increases in redemptions. The fund posted about $78 million in net outflows on Sept. 9, and that figure climbed to $164.3 million the next trading day. Over those two sessions, ARKB lost about $242.3 million.
Redemptions were not limited to GBTC
The report said the market has often linked Bitcoin ETF outflows to structural redemptions in GBTC because of its higher management fee. This round looked different. On Sept. 10, in addition to GBTC’s roughly $36.4 million in outflows, ARKB, IBIT, FBTC, BITB, and HODL all posted net withdrawals on the same day.
Blockcast said that suggests the latest selling pressure has spread from redemptions in a legacy product to several lower-fee ETFs that had been viewed as key entry points for institutional allocation. The report singled out IBIT’s turn into net outflows as one of the points to watch. It said IBIT has long been one of the main channels for inflows into US spot Bitcoin ETFs, and continued outflows over the next several trading days would say more about institutional positioning than GBTC redemptions alone.
Bitcoin hovered near $77,000 in Asian trading
Bitcoin also remained under pressure as ETF demand cooled. Blockcast said BTC traded around $77,000 during the Sept. 11 Asian session, marking a visible pullback from levels above $80,000 seen earlier.
The report said markets were facing several pressures at once, including elevated US Treasury yields, higher energy prices, and a more hawkish expectation for Federal Reserve policy. Against that backdrop, the continued ETF outflows may be part of a broader risk-off trade rather than a rotation limited to the crypto sector.
What the market is watching next
At the same time, the article said about $450 million in net outflows over three days is still not enough to show that institutional capital has fully exited Bitcoin. Earlier in September, US spot Bitcoin ETFs had seen a large wave of inflows. On Sept. 3 alone, daily net inflows reached $730.8 million. On that basis, the latest three-day outflow streak may be better understood as partial profit-taking and risk adjustment after an earlier surge in buying.
The key question now is whether flows turn positive again soon. If ETF flows recover quickly, the recent $449.5 million in redemptions may still be viewed as short-term position reduction ahead of macro events. If large products such as ARKB, IBIT, and FBTC continue to post outflows at the same time, while Bitcoin loses the $76,000 to $77,000 area, the market may need to reassess whether institutional investors have shifted from buying dips to active risk reduction.