US Bitcoin ETFs Record Huge Net Outflows of $1.2 Billion Amid Rektember

In a notable shift within the cryptocurrency market, the 11 United States-based spot Bitcoin exchange-traded funds (ETFs) experienced net outflows of $1.2 billion over just eight days, marking their longest run of withdrawals since their inception. According to Bloomberg, between August 30 and September 6, investors pulled approximately $1.2 billion from these ETFs, which first launched on January 10. This wave of outflows coincided with a significant downturn in Bitcoin prices, which saw a decrease from a high of $64,668 on August 26 to a low of $53,491 by September 7—a sharp 17.28% drop within two weeks. Analysts note that