Bitcoin ETFs Lose $120M Amid Rotating Investor Interest
U.S. bitcoin exchange-traded funds (ETFs) saw another day of redemptions on Wednesday, as several large funds experienced capital outflows. The total net outflow for the day was $120.24 million, extending the losing streak to a second session.
The largest outflow was seen in ARKB, led by Ark and 21Shares, with $77.98 million leaving the fund. Grayscale's GBTC lost $27.22 million, while Blackrock's IBIT shed $19.53 million. However, Morgan Stanley's MSBT attracted $4.49 million, providing a small offset.
Meanwhile, ether, XRP, and solana funds saw fresh capital inflows. Ether ETFs recorded $34.75 million in net inflows, with Blackrock's ETHB leading the group at $22.94 million. XRP ETFs added $12.29 million, while solana funds drew $11.73 million.
Bitwise Chief Investment Officer Matt Hougan expects stronger Q4 ETF inflows as institutions widen their crypto allocations. He predicts 'enormous' flows into bitcoin, stablecoins, tokenization, and other themes in the fourth quarter.