Spot Bitcoin ETFs Shed $729 Million in Two Days Amid Rate Concerns

Bitcoin ETFs — U.S. spot Bitcoin exchange-traded funds saw a net outflow of $729 million over Wednesday and Thursday, reversing recent inflows and applying downward pressure on the cryptocurrency’s price.

According to data from Farside Investors, funds managed by BlackRock, Fidelity, Morgan Stanley, and ARK 21Shares all experienced significant outflows. These redemptions followed a brief period of inflows on Tuesday, when investors bought nearly $119 million worth of shares.

The shift to outflows coincided with renewed market concerns over potential Federal Reserve interest rate hikes, driven in part by rising Brent crude oil prices after attacks on tankers in the Strait of Hormuz.

Bitcoin’s price was recently quoted just over $82,688, representing a decline of more than 3% over a seven-day period, though it has rebounded nearly 2% in the last 24 hours. The leading cryptocurrency remains 34% below its all-time high of $126,080 from October.