Fidelity Bitcoin ETF Experiences $43.1 Million Outflow Amidst Stable BTC Price

The Fidelity Bitcoin ETF experienced $43.1 million in outflows on July 29, just as the US Federal Reserve announced its decision to keep interest rates unchanged at 3.50%-3.75%.

BTC was trading around $64.6k that day, but did not see a significant short-term reaction to the Fed's hawkish stance.

However, the ETF flows gave their own signals, as four days of net outflows followed a 7-day streak of Bitcoin spot ETF inflows that ended on July 23.

The recent ETF outflows have been interpreted by some analysts as temporary de-risking ahead of the Fed decision.