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    Bitcoin ETFs Experience Significant Withdrawals as BTC Price Falls to $108,000

    Ethan CarterBy No Comments2 Mins Read
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    On Wednesday, US-listed spot Bitcoin exchange-traded funds (ETFs) experienced $470 million in outflows as Bitcoin’s price momentarily dipped to $108,000, later recovering, according to Farside Investors.

    Fidelity’s FBTC led the way with $164 million in outflows, followed by ARK Invest’s ARKB, which faced a $143 million decline. BlackRock’s IBIT also experienced notable outflows, totaling $88 million.

    Grayscale’s GBTC reported $65 million in withdrawals, while Bitwise’s Bitcoin ETF BITB had a more modest outflow of $6 million.

    This decline followed several days of gains, which saw $149 million inflow on Monday and over $202 million on Tuesday.

    United States, Bitcoin ETF, ETF
    Bitcoin ETFs faced a challenging day marked by significant outflows. Source: Farside Investors

    Cumulative net inflows have now decreased to $61 billion, with total assets under management falling to $149 billion, equating to 6.75% of Bitcoin’s (BTC) market cap, according to the crypto investment research platform SoSoValue.

    Bitcoin price feels pressure after rate cut

    Bitcoin’s price has fluctuated between $108,201 and $113,567 over the past 24 hours, according to CoinGecko.

    The price decrease occurred despite the US Federal Reserve’s decision to lower interest rates by 25 basis points, although it seems to have rebounded following a meeting between US President Donald Trump and Chinese President Xi Jinping concerning trade disagreements.

    Related: OG Bitcoiners are rotating out, but it’s a healthy dynamic: Analysts

    ETFs still hold a significant amount of Bitcoin

    Previously, analysts have noted that ETF inflows are closely tied to the price of the token, with the early October rally attributed to substantial inflows into these investment vehicles.

    Despite recent outflows, ETFs currently hold over 1.5 million Bitcoin valued at $169 billion, which is 7.3% of the total supply, according to Bitbo.