Bitcoin ETFs Bleed $126.7M in First Weekly Outflows Since June — Is “Rektember” Imminent?

￰0￱ Bitcoin exchange-traded funds (ETFs) recorded their first weekly outflows since June, raising questions over whether September, historically one of Bitcoin’s weakest months, could bring further pain for ￰1￱ to data from SoSoValue, on August 29, spot Bitcoin ETFs saw net redemptions of $126.64 million, snapping a six-week streak of consistent ￰2￱ withdrawals reduced total assets under management to $139.95 billion, representing 6.52% of Bitcoin’s market ￰3￱ the setback, cumulative inflows since launch remain strong at $54.24 billion, showing the scale of institutional ￰4￱ ETFs Post $751M August Outflows as Ethereum Products Outperform Fidelity’s Wise Origin Bitcoin Fund (FBTC) posted the steepest daily outflow with $66.2 million, followed by ARK Invest and 21Shares’ ARKB with $72.07 million.

Grayscale’s GBTC, which continues to bleed capital as investors rotate into lower-cost funds, lost a further $15.3 million. BlackRock’s iShares Bitcoin Trust (IBIT) bucked the trend, adding $24.63 million in new inflows and extending its dominance as the largest Bitcoin ETF with $80.98 billion in assets.) momentum indicator, last seen in late 2021 before the cryptocurrency’s slide to $15,500. Despite climbing to an all-time high of $124,500 earlier this year, the weakening MVRV trend signals waning capital ￰5￱ history rhymes, some warn Bitcoin could face a deeper correction, with targets as low as $105,000, or even $60,000 if bearish momentum accelerates.