- US-listed spot Bitcoin ETFs experienced $470 million in outflows amid a brief dip in Bitcoin’s price to $108,000.
- Fidelity’s FBTC led withdrawals with $164 million, followed by Ark Invest’s ARKB and BlackRock’s IBIT.
- Cumulative net inflows dropped to $61 billion, and total assets under management fell to $149 billion, about 6.75% of Bitcoin’s market capitalization.
- Bitcoin’s price fluctuated between $108,201 and $113,567, reacting to a US interest rate cut and US-China trade talks.
- Despite recent outflows, ETFs still hold over 1.5 million Bitcoin worth $169 billion, representing 7.3% of total supply.
On Wednesday, US-listed spot Bitcoin exchange-traded funds (ETFs) recorded outflows totaling $470 million after Bitcoin’s price briefly dropped to $108,000 before recovering. The withdrawals reflected investor caution following recent price movements.
Fidelity’s FBTC ETF led outflows with $164 million withdrawn, followed by ARK Invest’s ARKB with $143 million, and BlackRock’s IBIT, which saw $88 million in withdrawals. Other ETFs like Grayscale’s GBTC lost $65 million, while Bitwise’s BITB recorded a smaller $6 million outflow. These outflows follow two days of steady inflows amounting to $351 million combined on Monday and Tuesday.
These movements caused cumulative net inflows to decline to $61 billion, while total assets under management (AUM) for US-listed Bitcoin ETFs fell to $149 billion. This represents about 6.75% of Bitcoin’s overall market capitalization, according to crypto investment research platform data.
Bitcoin’s price traded between $108,201 and $113,567 over the last 24 hours. It dipped despite the US Federal Reserve’s decision to cut interest rates by 25 basis points, but then showed gains after a meeting between US President Donald Trump and Chinese President Xi Jinping, where trade tensions were also discussed.
Analysts note that inflows and outflows in Bitcoin ETFs closely track Bitcoin’s price. The recent rally earlier in October was linked to large inflows into these investment products. Despite Wednesday’s outflows, ETFs continue to hold more than 1.5 million Bitcoin, valued at approximately $169 billion, which accounts for about 7.3% of the total Bitcoin supply, based on Bitbo data.
Among ETFs, BlackRock’s IBIT holds the largest Bitcoin amount at 805,239 BTC, followed by Fidelity’s ETF at 206,258 BTC, and Grayscale’s GBTC at 172,122 BTC. Meanwhile, Michael Saylor, chairman of MicroStrategy, expressed confidence in Bitcoin’s future price, forecasting it could reach $150,000 by the end of 2025 due to positive developments in the crypto space.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
Previous Articles:
- Cryptocurrencies Decline Despite Interest Rate Reduction: What’s Happening?
- Tesla Cybercab Spotted Testing; Robotaxi Expands in Austin, TX
- Japan Launches Yen-Backed Stablecoin to Boost DeFi Lending
- CalPERS to Vote Against Elon Musk’s $1T Tesla Pay Plan Over Risks
- Bitchat Tops Jamaica’s App Store During Hurricane Melissa Outage
