Bitcoin, Ethereum ETFs Bleed $592 Million as Clarity Act Fails in Senate

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<a href="https://xpertsstudio.com/u-s-senate-rejects-crypto-market-bill-bitcoin-slides/” title=”U.S. Senate Rejects Crypto Market Bill, Bitcoin Slides”>Bitcoin (BTC) and Ethereum (ETH) spot ETFs shed a combined $592 million on September 15. Both products posted their deepest single-day outflows in months.

The outflows landed as the CLARITY Act failed to advance in the US Senate. The setback pulled prices lower, and capital followed them out.

Ethereum ETFs Record Their Worst Session Since January

Ethereum (ETH) funds lost $141.47 million, their largest daily outflow since January 30

Nothing in that stretch came close. The worst session in between drained $136.4 million on March 19.

The selling followed four straight weeks of inflows. ETH products took in $1.94 billion over that run, peaking at $824.4 million in late August.

Bitcoin funds gave up $450.33 million, their worst session since June 25. Outflows hit $462.7 million last week, the heaviest since early July, after three weeks of heavy buying.

Trading volume told the same story. Bitcoin products saw turnover of $4.35 billion, compared with a 30-day average of $2.74 billion. Ethereum volume more than doubled its own baseline.

Altcoin Funds See Mixed Performance

Hyperliquid (HYPE) was the only altcoin product to record an outflow. Its funds lost $3.89 million, extending a September decline of $18.04 million.

Four funds drew money in. Solana (SOL) ETFs led with $1.35 million. Tron (TRX), Dogecoin (DOGE), and Hedera (HBAR) added less than $500,000 each.

Six funds recorded no activity at all. BNB (BNB) XRP (XRP), Chainlink (LINK), Avalanche (AVAX), Polkadot (DOT), and Litecoin (LTC) all logged zero flows. The 11 altcoin funds ended the day with a combined net outflow of $1.66 million. They hold $3.55 billion between them.

Both ETH and BTC ETFs still sit in positive territory for September. Bitcoin funds hold a $17.1 million net gain month to date, while Ethereum funds carry $307.4 million. One session, however heavy, has not erased the month.

The Federal Reserve announces its rate decision on Wednesday, a second policy test within 24 hours.

Read the Original story Bitcoin, Ethereum ETFs Bleed $592 Million as Clarity Act Fails in Senate by Kamina Bashir at beincrypto.com

Source: finance.yahoo.com