Bitcoin ETFs (BTC) in U.S. Witness Unprecedented $563M Outflow, Unaffected by Fed’s Decision to Hold Rates
- Spot bitcoin ETFs in the U.S. experienced a record outflow of $563 million on Wednesday, bringing the total to nearly $1.2 billion over the past week.
- Fidelity’s FBTC saw the highest withdrawal at $191.1 million, potentially influencing investor sentiment.
- Despite Federal Reserve Chairman Jerome Powell’s dovish stance, the ETF market outlook remained unchanged.
Bitcoin ETFs in the U.S. witness record outflows, with Fidelity’s FBTC leading the pack. Despite a dovish stance from the Federal Reserve, the ETF market outlook remains unchanged.
Record Outflows for U.S. Bitcoin ETFs
On Wednesday, U.S.-based spot bitcoin exchange-traded funds (ETFs) witnessed increased selling pressure, hitting a record outflow of $563 million since their inception on January 11. Data from CoinGlass revealed that 11 ETFs saw a combined net outflow of $563.7 million, continuing the decline that started on April 24. Over the past week, investors have withdrawn nearly $1.2 billion from these ETFs.
Fidelity’s FBTC Sees Highest Withdrawal
Fidelity’s FBTC saw the highest withdrawal on Wednesday, with investors pulling out $191.1 million. With FBTC among the ETFs with the most inflows in the first quarter, this development might influe... Read the full article for FREE at COINOTAG!
