US Bitcoin ETFs see historic outflows as brutal sell-off shakes crypto markets
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Key Takeaways US Bitcoin ETFs experienced historic outflows with investors withdrawing $672 million in a day. Fidelity’s Bitcoin Fund led the outflows, followed by Grayscale and ARK Invest ETFs. US spot Bitcoin ETFs experienced their largest single-day outflows on record, with investors withdrawing approximately $672 million on Thursday amid a broad crypto market decline post-Fed policy meeting, Farside Investors data shows. The massive withdrawal marked the end of a two-week positive streak for the 11 funds that directly hold Bitcoin. The previous outflow record was set on May 1, when the funds saw nearly $564 million in withdrawals after Bitcoin dropped 10% to $60,000 over a week. Fidelity’s Bitcoin Fund (FBTC) led the exodus with $208.5 million in outflows, while Grayscale’s Bitcoin Mini Trust (BTC) recorded its lowest point since launch with over $188 million in net outflows. ARK Invest’s Bitcoin ETF (ARKB) and Grayscale’s Bitcoin Trust (GBTC) also saw huge withdrawals, with ARKB losing $108 million and GBTC shedding nearly $88 million. Three competing ETFs managed by Bitwise, Invesco, and Valkyrie collectively lost $80 million. BlackRock’s iShares Bitcoin Trust (IBIT), which has accumulated $1.9 billion in net inflows so far this week and was a major contributor to the group’s recent strong performance, recorded zero flows for the day. WisdomTree’s Bitcoin Fund (BTCW) was the sole gainer, attracting $2 million in new investments. Bitcoin’s price fell below $96,000 during the market downturn and currently trades at around $97,000, down 4% over 24 hours, according to CoinGecko data. The steep decline across all assets triggered $1 billion in leveraged liquidations on Thursday, Crypto Briefing reported. The market turbulence followed the Fed’s hawkish messaging after its rate cut decision. The Fed implemented a 25-basis-point rate reduction on Wednesday but indicated fewer cuts in 2025. Although price volatility persists, the Crypto Fear…
