Bitcoin ETFs post $470M outflows as Fed cuts rates, Trump talks trade

Spot Bitcoin ETFs recorded their largest day of outflows in two weeks as the Federal Reserve cut rates, leading to a choppy day for US markets.

US-listed spot Bitcoin exchange-traded funds (ETFs) shed $470 million on Wednesday as the price of Bitcoin briefly fell to $108,000 before recovering, according to data from Farside Investors. 

Fidelity’s FBTC led the exodus with $164 million, followed by ARK Invest’s ARKB, which saw a pullback of $143 million. BlackRock’s IBIT rounded out the top three with $88 million in outflows.

Grayscale’s GBTC also recoded $65 million in outflows, while Bitwise’s Bitcoin ETF BITB saw a relatively minor loss of $6 million.

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