China’s AI Sector Pushes to Close U.S. Tech Gap Amid Chipmaking Challenges 
GM Takes $6 Billion EV Write-Down as Electric Vehicle Demand Slows in the U.S. 
FCC Exempts Select Foreign-Made Drones From U.S. Import Ban Until 2026 
Supreme Court to Hear Cisco Appeal on Alien Tort Statute and Human Rights Liability 
FTC Blocks Edwards Lifesciences’ JenaValve Acquisition in Major Antitrust Ruling 
Ethereum Dips to $3108 Despite Strong $340M ETF Inflows – Neutral Signals Flash, Buy-the-Dip Targets $3600 
FCC Approves Expansion of SpaceX Starlink Network With 7,500 New Satellites 
Dell Revives XPS Laptop Lineup With New XPS 14 and XPS 16 to Boost Premium PC Demand 
SMIC Shares Climb as China Boosts Chipmaking Support Amid AI Optimism 
xAI Cash Burn Highlights the High Cost of Competing in Generative AI 
BTIG Initiates Buy on SoftBank as AI and Robotics Strategy Gains Momentum 
OpenAI Sets $50 Billion Stock Grant Pool, Boosting Employee Equity and Valuation Outlook 
Stellantis to End Plug-In Hybrid Sales in the U.S. as Demand Shifts Toward Traditional Hybrids 
Eleven US-based Bitcoin ETFs saw a total of $1.2 billion pulled out over eight days, the longest streak of outflows since January. Bitcoin’s declining price has contributed to this extended period of investor withdrawals.
Bitcoin ETFs Face Extended Withdrawal Streak
Investors pulled about $1.2 billion out of the eleven spot Bitcoin exchange-traded funds (ETFs) listed on Bloomberg between August 30 and September 6, the longest stretch of withdrawals since the funds' inception on January 10, according to data released on September 9.
Cointelegraph reports that the outflows coincide with Bitcoin's poor performance in the first week of September, when its price fell from $64,668 on August 26 to $53,491 on September 7, a decrease of 17.28%. However, experts warn that September is usually a bad month for Bitcoin's performance.
As the value of digital assets tends to "rekt" in September and "get some relief" in October, the terms "Rektember" and "Uptober" are frequently used in the cryptocurrency industry.
Bitcoin Performance Expected to Improve in Coming Weeks
Bitcoin fell more than 2% in the first two weeks of September, its lowest point in two weeks. Still, experts see room for improvement in the digital asset.
In spite of its temporary declines, financial advisor Suze Orman maintains her belief that Bitcoin should be owned by everyone and that the upcoming generation of investors has the power to shape the future of cryptocurrency.
Suze Orman: Bitcoin Is the Future for Younger Investors
Orman predicted in a CNBC interview that the asset's value will rise due to the fact that Bitcoin will become more popular among younger generations as their disposable income increases.
Despite the outflows, crypto nevertheless outpaced the 400 new exchange-traded funds (ETFs) that debuted in 2024. According to data from The ETF Store, spot Bitcoin ETFs will be the four most popular releases in 2024.
The ARK 21Shares Bitcoin ETF, the Bitcoin ETF Trust from Bitwise, the iShares Bitcoin Trust from BlackRock, and the Wise Origin Bitcoin Fund from Fidelity are all part of this group.
Cryptocurrency ETFs Dominate Top 25 Fund Inflows
Thirteen of the top twenty-five exchange-traded funds (ETFs) by inflows are cryptocurrency-related, ten are Bitcoin-based, and three are Ethereum-related.
