Bitcoin ETFs Experience First Outflows in Over a Week Amid Fed’s Cautious Stance
- Spot bitcoin ETFs saw outflows of $51.28 million on Wednesday, breaking a seven-day inflow streak that totaled nearly $3 billion.
- Assets under management for bitcoin ETFs remain above $150 billion, according to SoSoValue data.
- The Federal Reserve cut its benchmark rate by 25 basis points to a range of 4.00% to 4.25%, signaling fewer cuts ahead than anticipated.
- Ethereum ETFs also faced redemptions, with net outflows totaling $1.89 million after a prior withdrawal of $61.7 million.
- In the last day, ethereum rose by approximately 1.7%, while bitcoin increased by about 0.3%.
The recent outflows from ETFs reflect investor caution following the Federal Reserve’s hawkish outlook and lower-than-expected future rate cuts, which have shifted market sentiment significantly.
With bitcoin ETF outflows reaching $51.28 million and ethereum facing continued redemptions, market dynamics are evolving as investors react to economic signals from the Fed.
