Étienne Girard
U.S.-listed spot Bitcoin ETFs experienced a significant net outflow of $169.9 million on Wednesday, breaking a two-day trend of positive investor inflows.
Data from SoSoValue reveals that Fidelity’s Wise Origin Bitcoin Fund (FBTC) saw the highest withdrawal, with $113.8 million pulled from the fund. Following closely, ARKB, the ETF jointly offered by Ark Invest and 21Shares, recorded a $113.3 million outflow. These were the only two ETFs to log redemptions for the day.
While two major funds posted steep losses, six other ETFs attracted new capital. BlackRock’s iShares Bitcoin Trust (IBIT), the largest spot Bitcoin ETF by total assets, gained $30.6 million in inflows, while Bitwise’s BITB welcomed $12.8 million.
Additional positive flows were noted in VanEck’s HODL, Grayscale’s Bitcoin Mini Trust, Valkyrie’s BRRR, and Invesco’s BTCO, which together helped mitigate the overall impact of the day’s negative flows.
Wednesday’s outflow comes after two straight days of gains for the crypto ETF sector, with $76.4 million in net inflows on Tuesday and $1.5 million on Monday.
Bitcoin Briefly Surpasses $85K Amid Volatility
Despite ETF redemptions, Bitcoin price climbed 1.41% over the past 24 hours, reaching $84,687 at the time of writing. The leading cryptocurrency briefly topped $85,000 on Wednesday, driven by market volatility and global macroeconomic uncertainties.
Meanwhile, Ether (ETH) rose 1.79% to $1,600, continuing its modest recovery.
Ongoing Trade Tensions Influence Market Sentiment
Traders remain focused on the potential implications of heightened trade disputes between the United States and China, with the White House signaling tariffs as high as 245% on certain Chinese goods. These global tensions have added pressure to traditional risk assets and spilled over into crypto market sentiment.
Spot Ether ETFs Face Extended Outflows
While Bitcoin ETFs had a mixed performance, spot Ether ETFs continued their downward trend, seeing $12 million in net outflows on Wednesday. This marks the seventh consecutive day of negative flows for Ether-focused products, signaling investor caution toward Ethereum in the short term.
