Bitcoin ETFs Shed $729M in Two Days as Investors Reverse Course
By Mathew Di Salvo
AI summary of the source article
U.S. investors reversed course this week, withdrawing $729 million from spot bitcoin exchange-traded funds over Wednesday and Thursday, putting downward pressure on bitcoin's price. According to data from Farside Investors, funds managed by BlackRock, Fidelity, Morgan Stanley, and ARK 21-Shares all registered significant outflows. The withdrawals followed news regarding potential Federal Reserve interest rate increases, rising Brent crude oil prices linked to Strait of Hormuz tanker attacks, and Middle East conflict risks. Bitcoin recently traded just above $82,688, sitting down more than 3% over seven days and 34% below its stated peak of $126,080.
Why it matters
Substantial institutional ETF outflows directly impact market liquidity and exert downward price pressure on the leading cryptocurrency.
Key facts
- Spot bitcoin ETFs recorded $729 million in net outflows across Wednesday and Thursday.
- Outflows hit funds managed by BlackRock, Fidelity, Morgan Stanley, and ARK 21-Shares.
- Bitcoin traded slightly above $82,688, down over 3% across a seven-day period.