YEREVAN (CoinChapter.com) — US Bitcoin ETFs have recorded significant outflows, losing more than $1.1 billion between August 27 and September 6. The rapid withdrawals have caused Bitcoin ETF net inflows to drop sharply, with the total assets of Bitcoin ETFs now falling under $50 billion.
This trend has raised concerns among investors, as major funds, including those managed by Fidelity, Ark 21Shares, and Grayscale GBTC, are among the hardest hit. Investors are pulling out millions from these ETFs, reflecting a drop in market enthusiasm.
Fidelity and Ark 21Shares Lead the $1.1 Billion BTC ETF Loss
Data from SoSoValue reveals that the most significant outflows came from Fidelity’s Bitcoin ETF, which saw over $450 million in redemptions. Ark 21Shares’ ARKB fund experienced $220 million in outflows, while Bitwise’s BITB saw $109 million withdrawn. BlackRock’s IBIT Bitcoin ETF saw relatively modest outflows, with less than $15 million withdrawn.
Grayscale GBTC, which became an ETF earlier this year, also saw significant outflows. During the same period, the fund lost $280 million. Since converting into an ETF, GBTC has faced net losses of more than $20 billion, signaling ongoing challenges for the fund.
Bitcoin ETFs Face Declining Inflows as Bitcoin Price Drops to $54K
In addition to the outflows, Bitcoin ETFs’ net inflows have been on a downward trend. According to SoSoValue, cumulative net inflows have decreased from a peak of $18.08 billion on August 26 to $16.89 billion. This decline reflects the broader challenges facing Bitcoin ETFs, as enthusiasm for the financial product appears to be cooling.
At the same time, Bitcoin’s price has also faced difficulties. After reaching a peak of over $73,000 in March, Bitcoin has now fallen to $54,445.17, according to the latest data. The cryptocurrency’s value has dropped by 2.54% over the past day, continuing a recent downward trend. Over the past week, Bitcoin has fluctuated between $56,000 and $53,000, reflecting ongoing market volatility.
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