Bitcoin ETFs Suffer Largest Outflow Since June Amid Senate Crypto Bill Stalemate
Bitcoin ETFs recorded their largest day of outflows since June after a stalled crypto bill in the Senate. The 13 US-listed funds saw a net $450.4 million outflow on Tuesday, following a $159.9 million inflow on Monday. This marks the biggest outflow since June 24, when Bitcoin ETFs lost $469 million due to a tech stock sell-off. Fidelity's FBTC was hit hardest, shedding $214.8 million.
Data from Farside shows that BlackRock's iShares Bitcoin Trust and Grayscale's Bitcoin Trust ETF (GBTC) also saw significant outflows of $161.7 million and $44.1 million respectively. ARK 21Shares Bitcoin ETF (ARKB) and Bitwise Bitcoin ETF (BITB) each lost $17.4 million and $12.4 million.
Bitcoin is currently trading at $75,700, down 2.5% over the last 24 hours according to CoinMarketCap.