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BTC 
ETH Bitcoin spot ETF turned green for the first time, with capital outflows exceeding US$460 million.
Since the outbreak week in mid-August, Bitcoin spot ETF experienced a net outflow of funds for the first time. More than $460 million has been withdrawn from these funds in the past four trading days. In contrast, Ethereum-related products continue to receive significant net inflows, and the underlying asset is trying to extend its gains.
BTC ETF suffers correction
Exchange-traded funds (ETFs), which track the performance of the largest market cap cryptocurrencies, had their best performing week in months from August 17 to 21. As BTC prices soared from below $65,000 to nearly $80,000 in just a few days, the week attracted more than $1.9 billion in inflows. The following weeks were also quite strong, with net deposits reaching US$924 million and US$986 million respectively.
However, this trend reversed last week. Monday is a closed day (Labor Day), and a net outflow began on Tuesday, with a net withdrawal amount of US$46.65 million. This was followed on Wednesday with a net outflow of $120.24 million; on Thursday it was $282.56 million; and on Friday, the day the CPI data was released, it was $13.29 million. As a result, the total net outflow for the week reached US$462.73 million. As of September 11, total net deposits fell to $55.15 billion from $55.62 billion last weekend.
The price of BTC also experienced sharp fluctuations at the end of the week, falling from $77,000 to $76,000, then soaring to $79,800, and finally back to square one. Next week is expected to be even more volatile, as the CLARITY Act will usher in a critical moment in the U.S. Senate and the Federal Reserve will announce its next interest rate decision the next day.
ETH ETF continues to gain favor with funds
The Ethereum Spot ETF also faced investor withdrawals at the beginning of this week, with an amount of US$24.29 million. Things improved Wednesday, with investors injecting $34.75 million. But sellers regained control on Thursday, with another $29.76 million withdrawn.
Friday's situation changed the trend throughout the week. Net inflows on the day hit a two-week high of $216.41 million, SoSoValue data showed, which was in sharp contrast to the performance of BTC ETFs.
ETH prices experienced violent fluctuations that day. Shortly after the CPI data was released, it traded at $2,440, but surged more than 8% in about an hour, hitting $2,670 at one point, the highest level since late January. However, after the price encountered resistance, the price fell back above $2,500 and has fluctuated in this range to this day.
As a result, the Ethereum ETF's green winning streak has extended to four consecutive yang wins. In addition, in the past 10 weeks, only one week saw a net outflow, and the outflow amount was relatively moderate, at only US$2.26 million. During this period, total net deposits have rebounded from less than US$10.89 billion to US$13.39 billion.
