Investors withdrew a net $1.16 billion from US spot Bitcoin ETFs over three trading sessions, according to SoSoValue data. The outflows slowed from $643 million on Friday and $399 million on Monday to $116 million on Tuesday. The source does not supply calendar dates for those sessions.
Bitwise research head André Dragosch said the withdrawals reflected short-term risk aversion, not a lasting shift in institutional sentiment. He cited a Bitwise survey of 15 institutions in which none had reduced Bitcoin ETF exposure during the bear market; that survey does not cover all investors. The withdrawals followed a reported $6.3 billion Binance hack, but Dragosch said the incident affected internet-connected hot wallets, unlike the cold storage he said is used for institutional funds at Coinbase custody.
