Bitcoin ETFs Bleed Record $450M as CLARITY Act Fails to Advance
The U.S. spot Bitcoin ETFs saw their largest daily outflow in nearly three months on Tuesday, totaling $450.3 million. This significant net withdrawal was led by Fidelity and BlackRock's funds, which made up around 84% of the day's total outflows.
The biggest losers were the Fidelity Wise Origin Bitcoin Fund (FBTC) and BlackRock’s iShares Bitcoin Trust (IBIT), with investors pulling $214.8 million and $161.7 million from them respectively. Smaller funds like Grayscale Bitcoin Trust ETF (GBTC), ARK 21Shares Bitcoin ETF (ARKB), and Bitwise Bitcoin ETF (BITB) also saw significant outflows.
The CLARITY Act, which aimed to provide clarity on digital assets, was blocked in the Senate on Tuesday. Despite this setback, some Bitcoin enthusiasts believe that the bill wasn't needed, with investor Anthony Pompliano saying 'Bitcoin doesn’t need the Clarity Act because bitcoin already has clarity.'