Bitcoin Holds Near $77,500 as Spot ETFs Snap Three-Week Inflow Streak Ahead of Fed Decision

Bitcoin traded at $77,666, up 0.5% over the past 24 hours, according to CoinGecko, while Ether was little changed at $2,511.70, down 0.4%. Both assets have been rangebound over the past week as traders wait on two catalysts: a Senate procedural vote on the CLARITY Act scheduled for Tuesday, after Republicans released a revised version over the weekend with an ethics proposal reportedly endorsed by President Trump, and the Federal Reserve's policy decision on Wednesday. Treasury yields near 4.97% and Brent crude above $107 a barrel have kept pressure on risk assets, a dynamic that has weighed on crypto sentiment for much of the past two weeks.

US spot Bitcoin ETFs recorded $462.7 million in net outflows across the four trading sessions from September 8 to 11, according to Farside Investors data, ending a three-week streak of net inflows. Thursday, September 10 accounted for the bulk of the withdrawal at $282.7 million, the largest single-day outflow since July. ARK 21Shares' ARKB led redemptions with $164.3 million pulled on that day alone, while Grayscale's GBTC shed $156.3 million across the four sessions. BlackRock's IBIT was comparatively resilient, posting a small inflow on September 8 before turning slightly negative later in the week. Despite the reversal, Bitcoin ETFs remain net positive for September as a whole, with roughly $307.3 million in cumulative inflows through September 12, following the $3.34 billion that flowed in between August 19 and September 4 as Bitcoin rallied from around $62,000 toward $82,000.

Spot Ethereum ETFs moved in the opposite direction, taking in $196.9 million over the same week, extending their inflow streak to four consecutive weeks. The week was uneven, with outflows on September 8 and 10 before a $216.4 million single-day inflow on September 11 that BlackRock's ETHA and Fidelity's FETH drove. Spot Solana and XRP ETFs, both smaller and newer products, posted net inflows of roughly $10.3 million and $19 million respectively over the same period, positive but modest next to the swings in the Bitcoin and Ethereum products.

The divergence between Bitcoin's outflows and Ethereum's continued inflows suggests institutional allocators are rotating within crypto rather than exiting it outright. Whether that rotation persists likely hinges on Wednesday's Fed decision and how the CLARITY Act vote lands, with Polymarket pricing the bill's odds of becoming law at 31% as of this weekend's revised draft.