U.S. Spot Bitcoin ETFs Experience Significant Outflows Amid Quarter-End Rebalancing
- U.S. spot Bitcoin ETFs witnessed $902.5 million in outflows last week, ending a four-week streak of inflows.
- Fidelity’s FBTC had the largest outflow on Friday, losing $300.4 million, followed by BlackRock’s IBIT with $37.3 million.
- The outflows were attributed to profit-taking and portfolio rebalancing as the quarter ended.
- Despite recent struggles, Bitcoin saw a positive return of approximately 3.2% in September.
- Bitcoin rebounded slightly by over 2% to $111,800 after hitting a low of $108,600 last week.
The significant outflows from U.S. spot Bitcoin ETFs are mainly due to profit-taking and portfolio rebalancing activities as the third quarter concluded, according to analysts’ observations.
Fidelity’s FBTC and BlackRock’s IBIT experienced notable withdrawals totaling over $337 million collectively, highlighting investor strategies during market fluctuations (Source).
