$450M Pulled from Bitcoin ETFs in Largest Withdrawal Since Late June
A total of $450.4 million exited US spot Bitcoin ETFs on Tuesday, marking the most significant withdrawal since June 24, amid Bitcoin's price decline and the Senate's CLARITY Act gridlock.
Exchange-traded funds holding spot Bitcoin experienced their most substantial single-day withdrawals since the end of June following the breakdown of a significant cryptocurrency legislative proposal in the Senate.
According to Farside data, the 13 funds listed in the United States witnessed net outflows totaling $450.4 million on Tuesday, a sharp reversal from Monday's $159.9 million in inflows. This represents the most significant withdrawal event since June 24, when Bitcoin ETFs experienced $469 million in outflows during a broader technology stock selloff that put pressure on risk-sensitive assets.
The data reveals that Fidelity's FBTC experienced the most substantial withdrawals, losing $214.8 million, while the BlackRock iShares Bitcoin Trust followed with $161.7 million in outflows. Grayscale's Bitcoin Trust ETF (GBTC) recorded $44.1 million in withdrawals, the ARK 21Shares Bitcoin ETF (ARKB) saw $17.4 million exit, and the Bitwise Bitcoin ETF (BITB) lost $12.4 million.
At the time of writing, Bitcoin is changing hands at $75,700, reflecting a 2.5% decline over the previous 24 hours, based on CoinMarketCap data.