**Bitcoin and Ethereum ETF Net Outflows on Fed Rate Cut Day: What’s Going On?**

- Ahead of the much-anticipated US FOMC meeting, local investors were busy shopping for spot Bitcoin ETFs. However, when the day arrived, the story changed! 😅

- From September 12-17, 11 spot Bitcoin ETFs recorded net inflows of over $500 million. But yesterday, despite the Fed cutting its key interest rate by 50 basis points, Bitcoin ETFs experienced net outflows of $52.7 million.

- Ark Invest’s ARKB led the negative trend with a net withdrawal of $43.4 million, followed by Grayscale’s GBTC with $8.1 million, and BITB with $3.9 million.

- On the other hand, Ethereum ETFs were no less dramatic. Net withdrawals reached $15.1 million on Tuesday and $9.4 million on Monday. Yesterday, investors withdrew another $9.8 million from ETH-based products.

- Despite this, BTC and ETH prices continued to surge to weekly highs. BTC is approaching $63,000 and ETH is almost at $2,450.

What do you think about this trend? Let's discuss in the comments!