U.S. spot Bitcoin exchange-traded funds recorded $282.7 million in net outflows on September 10, extending their withdrawal streak to three consecutive trading sessions.
Data from Farside Investors shows the funds lost $46.6 million on September 8 and another $120.2 million on September 9 before Thursday’s outflow accelerated to $282.7 million.
That puts cumulative net redemptions over the three sessions at approximately $449.5 million.
ARKB Leads $283 Million Bitcoin ETF Outflow
Selling was spread across several of the largest U.S. Bitcoin ETFs on Thursday, although ARK Invest and 21Shares’ ARKB accounted for the majority of the withdrawals.
ARKB recorded $164.3 million in net outflows, representing more than half of the daily total. Grayscale’s GBTC followed with $36.4 million in withdrawals, while Fidelity’s FBTC lost $33.6 million.
BlackRock’s IBIT recorded $24.5 million in net outflows, Bitwise’s BITB lost $12.6 million, and VanEck’s HODL saw $15.3 million leave the fund.
Morgan Stanley’s MSBT was the only listed fund to record a net inflow, attracting approximately $4 million, while the remaining products reported no net movement.
The latest session marks a sharp change from early September. The ETFs attracted $730.8 million on September 3 and another $174.6 million on September 4.
Based on Farside’s daily figures, Bitcoin ETFs remain approximately $320.5 million net positive for September through September 10, despite the three-day withdrawal streak.
The earlier rebound helped Bitcoin reclaim $80,000 as ETF inflows returned before the cryptocurrency again lost momentum over the past week.
Bitcoin ETF Outflows Accelerate for Third Straight Day
The direction of the latest flows is notable because the size of the withdrawals has increased with each session.
| Date | Bitcoin ETF Net Flow |
| Sept. 8 | -$46.6M |
| Sept. 9 | -$120.2M |
| Sept. 10 | -$282.7M |
| Three-day total | -$449.5M |
The deterioration has occurred alongside renewed pressure on Bitcoin following this week’s U.S. inflation data.
Bitcoin (BTC) was trading around $77,073 at approximately 05:05 UTC on September 11, according to CoinGecko market data. BTC had traded between $76,546 and $78,510 over the preceding 24 hours. Bitcoin had already fallen below $77,000 following Thursday’s U.S. PPI report.
The U.S. Bureau of Labor Statistics reported that producer prices rose 0.4% month over month in August, while annual PPI accelerated to 5.4%. The data kept concerns over another Federal Reserve rate increase in focus.
Bitcoin Open Interest Drops $842M Across Major Exchanges
The ETF withdrawals have coincided with a broader reduction in leveraged Bitcoin exposure across major crypto derivatives exchanges.
A CryptoQuant chart shared by contributor Amr Taha shows the combined seven-day change in Bitcoin open interest across Binance, Bybit, Deribit, HTX and Bitfinex falling by approximately $842 million on September 11.
Binance recorded the largest contraction at around $400 million, taking its seven-day open interest change to the lowest level shown on the chart since July. Bybit followed with a decline of roughly $240 million.
Deribit recorded a decrease of about $96 million, while HTX and Bitfinex saw declines of approximately $72 million and $34 million, respectively.
Binance and Bybit alone accounted for roughly 76% of the $842 million decline, showing that most of the derivatives deleveraging was concentrated on the two exchanges.
Gate.io moved in the opposite direction, with its seven-day Bitcoin open interest increasing by approximately $125 million over the same period.
The CryptoQuant chart placed Bitcoin near $76,800 when the readings were captured, extending the decline from levels above $80,000 earlier in September.
Open interest measures the value of outstanding derivatives positions. A decline generally shows that traders are closing positions or being forced out of leveraged trades, although the metric by itself does not establish whether longs or shorts were responsible for the reduction.
The $842 million contraction does not independently signal a bullish or bearish shift, but it does show that traders reduced derivatives exposure as Bitcoin moved toward $77,000.
The timing also overlaps with the ETF withdrawals. U.S. spot Bitcoin ETFs have now lost $449.5 million over three consecutive sessions, while leverage has simultaneously been reduced across several major derivatives venues.
Together, the two datasets point to a broader reduction in Bitcoin market exposure ahead of the August CPI release, rather than ETF flows being an isolated move.
CPI Is the Next Test for Bitcoin
Attention now shifts to the August Consumer Price Index, which the Bureau of Labor Statistics will release at 8:30 a.m. ET, or 12:30 UTC, on September 11.
The report will be the final major U.S. inflation release before the Federal Reserve’s September meeting.
The Federal Reserve’s official calendar shows policymakers will meet on September 15–16, with the meeting also scheduled to include a new Summary of Economic Projections.
For Bitcoin ETFs, the next daily flow report will show whether Thursday’s $282.7 million withdrawal marked the peak of the current redemption run or whether the three-day streak extends into a fourth session.
Also Read: New Bitcoin ATH Prediction: Analyst Puts $232k Price Mark on April 2028 Halving
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