Ahead of the long-awaited US Federal Reserve meeting, when interest rates were expected to be cut, local investors were actively buying spot Bitcoin ETFs. But on the day of the meeting, everything changed.

Despite the 50 basis point rate cut, spot Bitcoin ETFs recorded outflows of $52.7 million. Ark Invest’s ARKB led the way with $43.4 million, followed by GBTC with $8.1 million.

Ethereum ETFs also did not escape outflows, losing $9.8 million. However, BlackRock’s EHTA showed positive inflows of $4.9 million.

BTC and ETH prices, despite outflows, reached multi-week peaks. 🚀