U.S. spot Bitcoin exchange-traded funds shed $470 million Wednesday, marking the largest single-day outflows in two weeks as bitcoin briefly dropped to $108,000 before recovering, according to Farside Investors.
Fidelity’s FBTC led withdrawals with $164 million in outflows, followed by ARK Invest’s ARKB at $143 million and BlackRock’s IBIT with $88 million. Grayscale’s GBTC recorded $65 million in exits, while Bitwise’s BITB saw $6 million leave.
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The drawdown followed steady gains earlier in the week, with $149 million in inflows Monday and $202 million Tuesday. Bitcoin traded between $108,201 and $113,567 over 24 hours despite the Federal Reserve cutting interest rates by 25 basis points.
Cumulative net inflows dropped to $61 billion, with total assets under management declining to $149 billion, representing 6.75% of bitcoin’s market capitalization. ETFs hold about 1.5 million BTC (≈ $169 billion).
