U.S. Bitcoin ETF Sees Third Straight Day of Outflows, Totaling $494M, as Bitcoin Stalls

U.S. spot-listed bitcoin (BTC) exchange-traded funds (ETFs) person seen 3 consecutive days of outflows totaling $494 million. Wednesday's outflows were the largest of the three, with $251 million, which saw BlackRock's iShares Trust (IBIT) registry a $22.1 cardinal outflow, with Fidelity Wise Origin Bitcoin Fund (FBTC) registering the largest outflow of $102 million, according to Farside data.

The outflows coincided with debased measurement successful the ETFs, and Wednesday saw a full of conscionable $2.58 cardinal successful volume. IBIT registered little than $2 cardinal successful volume, which enactment it arsenic the tenth astir traded U.S. ETF, according to Coinglass data. IBIT typically falls into the apical 5 astir traded ETFs erstwhile bitcoin surges oregon gains momentum.

The deficiency of request shown successful the caller Goldman Sachs filing of the bitcoin ETFs shows the lackluster request for caller nett agelong positions successful these ETFs, which are chiefly utilized arsenic trading vehicles.

Bitcoin is presently astatine $96,000, successful the mediate of a trading scope betwixt $90,000 and its all-time precocious of $109,000, which began successful mid-November.