Bitcoin ETFs Experience $494M in Outflows as BTC Price Holds Steady
Bitcoin (BTC) has remained within a tight trading range since mid-November, and U.S. spot bitcoin exchange-traded funds (ETFs) have faced a third consecutive day of outflows, totaling $494 million.
Wednesday alone saw outflows of $251 million, with the Fidelity Wise Origin Bitcoin Fund (FBTC) leading the way, registering $102 million in withdrawals. BlackRock’s iShares Bitcoin Trust (IBIT) also saw $22.1 million exit, according to Farside data.
These outflows have coincided with a decline in trading volumes, with total ETF volume for the day reaching just $2.58 billion. IBIT, which typically ranks among the top traded ETFs during periods of bitcoin price surges, traded less than $2 billion, falling outside the top 10 ETFs by volume according to Coinglass.
Recent filings, including from Goldman Sachs, reveal tepid demand for new long positions in bitcoin ETFs. Institutional interest appears to be focused on short-term trading rather than sustained investments, reinforcing the lackluster demand for these products in the current market environment.
Bitcoin is currently priced at $96,000, continuing to trade within a well-established range between $90,000 and its all-time high of $109,000, which has persisted since mid-November.
