TLDR
- US spot Bitcoin ETFs recorded $450.4 million in net outflows, reversing Monday’s $159.9 million inflow.
- Fidelity’s FBTC led withdrawals with $214.8 million, while BlackRock’s IBIT lost $161.7 million.
- Bitcoin briefly fell below $75,000 as selling pressure increased during the session.
- The outflows came as the US Senate failed to advance the CLARITY Act, leaving the crypto bill stalled.
- The latest Bitcoin ETF outflows marked the largest daily withdrawal since late June.
US Bitcoin exchange-traded funds recorded $450.4 million in net withdrawals on Tuesday as Bitcoin ETF outflows returned during a market sell-off. The move reversed Monday’s $159.9 million in net inflows and marked the largest daily withdrawal since June 25.
Data showed that the 13 US-listed spot Bitcoin ETFs faced renewed selling as Bitcoin slipped below $75,000 after starting the day above $77,000. The latest flow data showed a fast shift from Monday’s short-lived recovery.
Bitcoin ETF Outflows Hit Major Funds
Fidelity’s Wise Origin Bitcoin Fund recorded the largest withdrawal, losing $214.8 million on Tuesday. BlackRock’s iShares Bitcoin Trust followed with $161.7 million in net outflows, making the two funds responsible for most of the day’s total.
Grayscale’s Bitcoin Trust ETF lost $44.1 million. ARK 21Shares Bitcoin ETF posted $17.4 million in outflows, while Bitwise Bitcoin ETF recorded another $12.4 million in withdrawals.
Bitcoin price traded near $75,800 at press time, down about 1.9% over 24 hours. The asset reached a daily high near $77,710 before dropping to roughly $74,945 during the session.
Selling accelerated after the US Senate failed to advance the CLARITY Act. Bitcoin moved below $75,000 after the procedural vote before recovering part of the decline later in the session.
CLARITY Act Vote Stalls Crypto Bill
The CLARITY Act seeks to create a federal framework for digital assets in the United States. The bill needed 60 votes to move forward, but the Senate rejected the cloture motion, leaving the measure stalled after months of negotiations.
The vote did not by itself explain Tuesday’s ETF withdrawals. However, the legislative setback occurred during the same session as heavy ETF selling and a drop in Bitcoin’s price.
Tuesday’s ETF data showed a sharp change from the previous session, when the funds recorded $159.9 million in net inflows. Bitcoin also lost momentum during US trading hours as the market moved lower.
The latest Bitcoin ETF outflows ranked among the largest daily withdrawals recorded this summer. June 25 remains the largest recent session, when US spot Bitcoin ETFs lost $691.7 million as Bitcoin traded near the $60,000 level. That June withdrawal came after funds lost $469 million a day earlier amid broad risk-asset selling.