US spot Bitcoin exchange-traded funds (ETFs) recorded their largest daily net outflow in five months, with investors withdrawing $812.27 million in a single day.
The substantial redemptions were primarily driven by two major funds: Fidelity’s FBTC saw $331.42 million in outflows while ARK Invest’s ARKB experienced withdrawals of $327.93 million. Together, these two funds accounted for over $659 million of the total exits.
Grayscale’s GBTC also posted notable outflows of $66.79 million, with additional withdrawals observed in Bitwise’s BITB and Grayscale Mini BTC funds. Market analysts indicate these movements stem from profit-taking and strategic portfolio adjustments rather than diminishing confidence in Bitcoin ETFs.
The outflows increase near-term selling pressure as ETF issuers must liquidate Bitcoin holdings to cover redemptions. Industry observers emphasize this aligns with normal market behavior and does not reflect declining institutional interest in cryptocurrency investment vehicles.