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US Bitcoin Spot ETFs Face Second Consecutive Outflow of $105 Million
#Bitcoin #BitcoinETF #BTC
On Wednesday, U.S. Bitcoin spot ETFs saw significant outflows of $105 million, marking the second straight day of withdrawals. This coincided with Bitcoin's volatile trading, where it briefly dipped below $58,000 before rebounding by 2.8% to close at $59,659.
The outflows signal growing investor caution after an eight-day streak of inflows, as Bitcoin struggles to maintain a price above $60,000. Ark Invest's 21 Shares ETF led the withdrawals, selling 1,003 BTC worth $59.27 million, following a larger sale of 1,717 BTC the day before. Despite these sales, Ark Invest still holds $2.69 billion in assets.
Other ETFs, including Fidelity’s FBTC and VanEck’s HODL, also saw outflows, reflecting market uncertainty. Grayscale’s funds, including the Bitcoin Trust (GBTC), reported notable outflows as well, with GBTC seeing a net outflow of $7.98 million.
Despite the recent outflows, U.S. Bitcoin ETFs remain top performers globally, with cumulative inflows of $17.85 billion and assets under management (AUM) of $54.32 billion, indicating strong ongoing interest.
