Bitcoin and Ethereum ETFs See $520 Million Outflows After CLARITY Act Vote

Bitcoin and Ethereum ETFs record $520 million in combined net outflows following the U.S. Senate CLARITY Act cloture vote on September 16.

U.S. spot Bitcoin and Ethereum exchange-traded funds recorded combined net outflows of $520 million, according to data shared by BSCN on X, with withdrawals reported from both asset classes.

The figures showed $295.98 million in net outflows from spot Bitcoin ETFs and another $224.11 million from spot Ethereum ETFs. The combined withdrawals came shortly after the U.S. Senate failed to advance the CLARITY Act through a crucial cloture vote on September 16.

Bitcoin and Ethereum ETF Flows Turn Lower

BSCN reported the combined ETF outflows as investors reacted to a period of heightened regulatory uncertainty surrounding digital assets in the United States.

According to the post, Bitcoin ETFs accounted for $295.98 million of the withdrawals, while Ethereum ETFs recorded $224.11 million in net outflows.

Separate market reports also recorded substantial withdrawals from U.S. spot crypto ETFs around the Senate vote. Decrypt reported that Bitcoin ETFs saw $450.4 million in outflows on September 15, while Ethereum ETFs recorded $142.3 million in withdrawals, although those figures differ from the amounts cited by BSCN.

The difference underscores that ETF flow figures can vary depending on the reporting date, data provider and products included in a particular calculation.

Senate Vote Adds Regulatory Uncertainty

The outflows came after the Senate failed to invoke cloture on the CLARITY Act, legislation designed to establish a broader regulatory framework for digital assets in the United States.

The procedural vote ended 49-50, falling short of the 60 votes required to advance the legislation. The result stalled the bill after months of negotiations over provisions covering digital asset regulation and the respective roles of U.S. regulators.

The timing of the ETF withdrawals has drawn attention because the vote represented a significant legislative development for the U.S. cryptocurrency industry. However, the available ETF data does not by itself establish that the Senate vote was the sole cause of the outflows.

Market conditions were also changing during the same period. Bitcoin traded below $76,000 following the Senate vote, while Ether and other major digital assets also moved lower. CoinDesk reported that Ether fell nearly 5% to about $2,410 and several other major tokens also recorded declines.

ETF Flows Remain a Key Market Indicator

Spot Bitcoin and Ethereum ETFs have become important channels for gaining regulated exposure to the two largest cryptocurrencies in the U.S. market. Daily creations and redemptions therefore provide a closely watched measure of capital moving into and out of those investment products.

The latest figures cited by BSCN show substantial withdrawals across both Bitcoin and Ethereum products, while other data sets published around the same period also recorded large outflows.

The regulatory picture is not necessarily limited to the stalled legislation. JPMorgan analysts said the CLARITY Act was not necessarily permanently dead but described the remaining legislative window as extremely narrow, while attention could shift toward regulatory action by the Securities and Exchange Commission and Commodity Futures Trading Commission.

For ETF investors, the next trading sessions will provide further data on whether the withdrawals reported around the Senate vote continue or reverse.

writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.