Bitcoin ETF Outflows Hit $450 Million Amid Senate Vote Shock

US spot Bitcoin ETFs experienced their largest daily withdrawal since June 25 on Tuesday, totaling $450.4 million in net outflows. This move reversed Monday's $159.9 million in net inflows and marked a significant shift in investor sentiment.

The largest withdrawals were seen in Fidelity's Wise Origin Bitcoin Fund, which lost $214.8 million, and BlackRock's iShares Bitcoin Trust, which lost $161.7 million. These two funds accounted for most of the day's total outflows.

The selling pressure was also reflected in the price of Bitcoin, which briefly fell below $75,000 before recovering part of its decline later in the session. The failure of the CLARITY Act to advance through the US Senate may have contributed to the market sell-off.