Reserve

Jerome Powell

Bitcoin

<ul class="news-points">
 <li>U.S. spot bitcoin ETFs saw record outflows of $563 million on Wednesday, nearing $1.2 billion over the past week.</li>
 <li>Fidelity’s FBTC had the highest withdrawal at $191.1 million.</li>
 <li>Despite Powell’s dovish stance, the ETF market outlook remained unchanged.</li>
</ul>
On Wednesday, U.S.-based <a href="https://coinedition.com/bitcoin-etfs-explained-everything-you-need-to-know/" target="_blank" rel="noopener noreferrer nofollow">spot bitcoin exchange-traded funds (ETFs)</a> witnessed increased selling pressure, hitting a record outflow of $563 million since their inception on January 11. Data from <a href="https://www.coinglass.com/bitcoin-etf" target="_blank" rel="noopener noreferrer nofollow">CoinGlass</a> revealed that 11 ETFs saw a combined net outflow of $563.7 million, continuing the decline that started on April 24. Over the past week, investors have withdrawn nearly $1.2 billion from these ETFs.
Fidelity’s FBTC saw the highest withdrawal on Wednesday, with investors pulling out $191.1 million. With FBTC among the ETFs with the most inflows in the first quarter, this development might influence investor sentiment.
Moreover, GBTC was second on Wednesday’s list of outflows, with pullouts amounting to $167.4 million. In addition, ARKB and IBIT saw outflows of $98.1 million and $36.9 million, respectively.&nbsp;
During the day, Federal Reserve Chairman Jerome Powell reaffirmed a “net-dovish” stance, in which t…
The post <a href="https://coinedition.com/u-s-bitcoin-etfs-see-record-563m-outflow-despite-feds-no-rate-hike/" rel="noopener noreferrer nofollow">U.S. Bitcoin ETFs See Record $563M Outflow Despite Fed’s No Rate Hike</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

U.S. Bitcoin ETFs See Record $563M Outflow Despite Fed’s No Rate Hike

Coin Edition

Other articles published on May 2, 2024

Bitcoin Eyes Recovery as Analysts Suggest End to Correction Amid Market Slump

Solana’s Path Forward: Insights from Ecosystem Insider

Coinbase posts $1.2B net income in Q1, surpasses entire 2023 earnings

DigiCask Debuts Tokenized Whisky Casks on Solana, Expanding Accessibility in the $75 Billion Glob...

BlackRock Anticipates Renewed Institutional Interest In Bitcoin Spot ETFs

Will Dogecoin Recover from Recent Losses?

Join our free newsletter for daily crypto updates!