Bitcoin ETFs Post a Fourth Day of Outflows Before the Fed Meets

The US spot bitcoin exchange-traded funds closed last week with four consecutive sessions of net redemptions. Money left on every trading day from Tuesday 8 September to Friday 11 September, by the daily figures Coinpedia published on Saturday. Bitcoin ended the week near $77,300 after starting it above $81,000. The Federal Reserve's rate decision lands on Wednesday, and traders spent the week repricing it. What the week cost the funds in total is the part the published accounts cannot agree on.

Four days down, four different weekly totals

The daily numbers are not in dispute. Coinpedia has $46.6 million leaving on Tuesday, $120.2 million on Wednesday, $282.6 million on Thursday and $13.2 million on Friday. TECHi, writing on Friday, gave $449 million for the first three days and put Thursday's alone at $282.6 million, which matches. CryptoBriefing carries the same Friday figure to the cent, $13.29 million, with roughly $450 million across the three days before it.

Those four days come to $462.6 million, which is the weekly total Coinpedia printed. Decrypt put the week at $440 million and the day at $280 million. The two headline numbers are not the same claim, and no account reviewed here reconciles them. Coinpedia set the week against the one before it, when close to $1 billion went in. The biggest single inflow day since January came at the start of this month.

Ether funds went the other way

Friday's flows split by asset. Ether ETFs took in $216.4 million on the day, their strongest since 27 August, with BlackRock's ETHA accounting for $148 million of that on $2.56 billion of volume, by UseTheBitcoin's Sunday tally. CryptoBriefing and Yahoo Finance both round the same session to $216 million. Bitcoin funds lost money on it.

"Capital rotating within the crypto ETF ecosystem is different from capital leaving it," CryptoBriefing wrote in its review of the week.

Fund-level detail comes from one place only. Coinpedia is alone in breaking the week out by ticker, with ARKB down $250.3 million, GBTC down $129.1 million, IBIT down $52.5 million and FBTC down $50.7 million, against $19.7 million going into MSBT. Nothing else in this sweep splits the outflows that way, so the ticker figures rest on a single tally.

Three readings of the same odds

The probability attached to Wednesday's decision depends on who published it. TECHi, citing the CME FedWatch tool on Friday, put a September hike at 90%. Coinpedia and UseTheBitcoin both say 87% for a quarter-point move. CryptoSlate, writing on Saturday evening, says 85%. All three sit far above where the number was on 8 September, when one tally had it at 57%. August's consumer price index put monthly core inflation above the consensus forecast on Friday morning, and the repricing followed within hours.

What the weekend leaves open

Price quotes depend on when they were taken. Coinpedia has bitcoin falling from $81,427 to about $76,000 across the week and trading near $77,343 on Saturday. CryptoSlate put it at $77,743 that evening, with weekend options volatility elevated. UseTheBitcoin, writing on Sunday, records an intraday high of $79,890 on Saturday and a retreat toward $77,200. TECHi quotes the seven-day change as a fall of 3.0%; CoinDesk's markets desk says more than 5%. We could not establish which window each of those measures. The funds report flows again on Monday.