From Yahoo Finance · · 1m
Bitcoin ETFs Lose $450M as Senate Clarity Act Fails
Senate votes block crypto regulation, triggering $450M Bitcoin ETF outflows
In brief
Senate votes block crypto regulation, triggering $450M Bitcoin ETF outflows Failed Senate vote on crypto regulation caused $450 million in Bitcoin ETF redemptions Originally reported by Yahoo Finance.
Senate Clarity Act Fails
U.S. Senate rejected the Digital Asset Market Clarity Act with 50 votes for and 49 against, falling short of the 60 votes needed to advance it.
“The legislation received 50 votes for and 49 votes against, which was below the minimum 60 votes needed to move the Clarity Act forward.”
Bitcoin ETFs Drain $450M
A dozen U.S. Bitcoin ETFs saw $450 million in outflows on September 15, the largest single-day redemption since June 25th.
Crypto Stocks Drop
Coinbase Global and Strategy stocks fell sharply after the Senate vote rejected the crypto regulation bill.
Bitcoin Price Falls
Bitcoin dropped 4% to below $76,000 U.S. following the Senate vote rejection.
Federal Reserve Rate Hike Expected
The U.S. Federal Reserve plans to raise interest rates by 25 basis points today, the first increase since July 2023.
The key point
Failed Senate vote on crypto regulation caused $450 million in Bitcoin ETF redemptions
