U.S.-listed spot Bitcoin exchange-traded funds (ETFs) saw $470 million in outflows on Wednesday as Bitcoin briefly dipped to $108,000 before rebounding, according to data from Farside Investors.
Fidelity’s FBTC led the withdrawals with $164 million in outflows, followed by ARK Invest’s ARKB with $143 million. BlackRock’s IBIT recorded $88 million in redemptions, while Grayscale’s GBTC saw $65 million leave. Bitwise’s BITB experienced a smaller $6 million loss.
The downturn followed two consecutive days of inflows, with $149 million on Monday and more than $202 million on Tuesday.
Cumulative net inflows for U.S. spot Bitcoin ETFs have now fallen to $61 billion, while total assets under management dropped to $149 billion — about 6.75% of Bitcoin’s total market capitalization, according to data from SoSoValue.
Bitcoin struggles post–rate cut
Bitcoin’s price has hovered between $108,201 and $113,567 over the past 24 hours, per CoinGecko. The asset slipped following the U.S. Federal Reserve’s 25-basis-point rate cut but later rebounded slightly after U.S. President Donald Trump and Chinese President Xi Jinping met to discuss easing trade tensions.
ETFs still dominate Bitcoin holdings
Analysts have previously told Cointelegraph that ETF flows remain closely tied to Bitcoin’s price, with early October’s rally fueled by heavy inflows into the funds.
Despite the recent withdrawals, spot Bitcoin ETFs still collectively hold more than 1.5 million BTC — worth roughly $169 billion — representing 7.3% of total supply, according to Bitbo. BlackRock’s IBIT leads with 805,239 BTC, followed by Fidelity’s FBTC with 206,258 and Grayscale’s GBTC with 172,122.
Meanwhile, MicroStrategy co-founder Michael Saylor remains undeterred by short-term volatility, predicting earlier this week that Bitcoin will reach $150,000 by the end of 2025, driven by continued institutional adoption and favorable market dynamics.
