Bitcoin ETF Outflows Erase Monday Rebound Ahead of Fed

US spot Bitcoin ETFs recorded a $450.4 million net outflow on Sept. 15, erasing the prior session’s $159.9 million inflow. The six completed sessions since Sept. 8 showed cumulative net outflows of about $753 million.

The ETF net-flow data reflect fund creations and redemptions and do not identify individual investors or capture direct on-exchange Bitcoin sales.

Bitcoin traded near $75,900 at the time of the report, placing the price close to the lower end of the recent range recorded in the on-chain analytics report.

The report showed spot cumulative volume delta, a measure of aggressive buying minus aggressive selling, at negative $142 million, below its lower statistical band of negative $115 million. Perpetual futures cumulative volume delta stood at negative $605 million, beneath its lower band of negative $233 million, indicating selling pressure in both spot and perpetual markets within the dataset.

Derivatives positioning remained substantial. Futures open interest eased slightly from about $37 billion to roughly $36.4 billion and stayed above its upper statistical band of $36 billion. Long-side funding payments rose to $1.4 million while remaining within the report’s normal range; funding reflects recurring payments between perpetual contract longs and shorts.

The report was compiled before a separate ETF-related incident on Sept. 15, and it did not establish a direct link between ETF redemptions and exchange-level selling. The Federal Reserve decision occurred after the reporting cutoff, so immediate market reactions to the policy outcome were not included in the dataset.

At the reporting date, the data recorded deeper spot distribution, active selling in perpetuals, and elevated open interest.