Bitcoin ETFs record $450.4 million in outflows after the CLARITY Act vote
The 13 spot Bitcoin ETFs listed in the United States saw net outflows of $450.4 million on Tuesday, September 15, according to data from Farside Investors. A rare level to reach in recent months. That same day, the U.S. Senate failed to gather the 60 votes needed to advance the CLARITY Act.
Fidelity recorded outflows of $214.8M with FBTC, versus $161.7M for BlackRock’s IBIT and $44.1M for Grayscale’s GBTC.
However, the ETFs ended Monday with a positive balance of $159.9M.
The Federal Reserve’s monetary policy decision is expected today, Wednesday, September 16.
The vote on the CLARITY Act takes place in an already tense session
A spot Bitcoin ETF holds bitcoin directly to track its price, rather than using derivative products. Since its launch in the U.S. in January 2024, these funds have become an important way for institutional investors to gain exposure to BTC.
The CLARITY Act was meant to clarify, in particular, the division of responsibilities among U.S. regulators and grant more responsibilities to the CFTC. The text did not clear the procedural step on Tuesday: 49 senators voted in favor and 50 against, even though 60 votes were needed, according to NPR.
That said, it’s difficult to directly attribute ETF outflows to the Senate vote. Bitcoin also fell during the session, which likely influenced investors’ behavior.
Fidelity and BlackRock account for most of the outflows
With outflows of $214.8 million, Fidelity’s FBTC represents nearly half of the amount recorded on Tuesday. BlackRock’s IBIT follows with $161.7 million. Together, the two funds account for 83.6% of that day’s outflows.
$CLAR.US
$ACT
$ETFT.ETF
#ETFvsBTC
The 13 spot Bitcoin ETFs listed in the United States saw net outflows of $450.4 million on Tuesday, September 15, according to data from Farside Investors. A rare level to reach in recent months. That same day, the U.S. Senate failed to gather the 60 votes needed to advance the CLARITY Act.
Fidelity recorded outflows of $214.8M with FBTC, versus $161.7M for BlackRock’s IBIT and $44.1M for Grayscale’s GBTC.
However, the ETFs ended Monday with a positive balance of $159.9M.
The Federal Reserve’s monetary policy decision is expected today, Wednesday, September 16.
The vote on the CLARITY Act takes place in an already tense session
A spot Bitcoin ETF holds bitcoin directly to track its price, rather than using derivative products. Since its launch in the U.S. in January 2024, these funds have become an important way for institutional investors to gain exposure to BTC.
The CLARITY Act was meant to clarify, in particular, the division of responsibilities among U.S. regulators and grant more responsibilities to the CFTC. The text did not clear the procedural step on Tuesday: 49 senators voted in favor and 50 against, even though 60 votes were needed, according to NPR.
That said, it’s difficult to directly attribute ETF outflows to the Senate vote. Bitcoin also fell during the session, which likely influenced investors’ behavior.
Fidelity and BlackRock account for most of the outflows
With outflows of $214.8 million, Fidelity’s FBTC represents nearly half of the amount recorded on Tuesday. BlackRock’s IBIT follows with $161.7 million. Together, the two funds account for 83.6% of that day’s outflows.
$CLAR.US
$ACT
$ETFT.ETF
#ETFvsBTC
