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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.Ā
Fidelityās FBTC led the exodus with $164 million, followed by ARK Investās ARKB, which saw a pullback of $143 million. BlackRockās IBIT rounded out the top three with $88 million in outflows.
Grayscaleās GBTC also recoded $65 million in outflows, while BitwiseāsĀ Bitcoin ETF BITB saw a relatively minor loss of $6 million.
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