CMC News

$BTC ETFs See $523M Outflows as Institutions Reposition Holdings

U.S. spot #BitcoinETFs recorded $523 million in net outflows on Tuesday, led by Fidelity's FBTC with $246.9 million in negative flows. Grayscale's GBTC contributed $115.53 million in outflows while #BlackRock's IBIT recorded zero flows.

$ETH ETFs posted $422.3 million in total outflows, marking the second-largest redemption since launch. Fidelity's FETH led with $156.32 million in negative flows, followed by Grayscale's ETHE at $122 million.

BTC Markets analyst Rachael Lucas attributed the institutional repositioning to profit-taking at recent highs or broader de-risking amid inflation concerns and dollar strength. The outflows translate into real selling pressure as issuers must redeem shares and sell underlying assets.

The #ETF redemptions create short-term market drag, with $BTC declining 1.57% to $113,500 and $ETH falling 1.54% to $4,163. Markets await Wednesday's FOMC minutes and Powell's Jackson Hole speech for policy direction. Lucas noted whale accumulation cushions $BTC downside while $ETH faces steeper institutional pressure.