Bitcoin ETF Outflows Top $149M as Fidelity Leads Broad Selling
Bitcoin ETFs saw their first outflow in nine sessions on Wednesday, totaling $148.69 million. This reversal came after nearly two weeks of steady institutional buying.
The largest contributor to this loss was Fidelity's FBTC, which shed $125.58 million alone. Other notable losers included Bitwise's BITB and Blackrock's IBIT, with losses of $13.63 million and $9.48 million respectively.
Other cryptocurrency ETFs also experienced outflows on Wednesday. Ether funds lost $59.58 million, led by Fidelity's FETH at $26.60 million in withdrawals. Grayscale's ZCSH shed $30.25 million, while HYPE ETFs dropped $5.03 million through Bitwise's BHYP.
The only major crypto ETF category to finish the day with positive flows was NEAR, which attracted $14.04 million into its newly launched fund.