The U.S. spot bitcoin ETF had a net outflow of US$484.9 million in a single day, and BTC prices fell with macro pressure.
On Wednesday, the U.S. spot bitcoin exchange-traded funds (ETFs) recorded a net outflow of US$484.9 million, ending a brief period of capital inflows earlier this week. Major funds led the decline in the wave of withdrawals.
Data from asset management firm Farside Investors shows that BlackRock's iShares Bitcoin Trust (IBIT) has become the hardest hit area for fund withdrawals, with a single-day redemption amount of US$207.7 million. Fidelity's Wise Origin Bitcoin Fund (FBTC) followed closely, losing $105.1 million; the ARK21 Shares Bitcoin ETF (ARKB) also recorded an outflow of $101.7 million.
Other funds also experienced significant redemptions. Bitwise's BITB reported $27.8 million in divestments, Grayscale Bitcoin Trust (GBTC) recorded an outflow of $39.3 million, and VanEck's HODL ETF lost $3.3 million during the same trading session. Farside Investors, as a financial data provider focusing on tracking the flow of ETF funds, tracks the net inflows and outflows of major Bitcoin investment products in real time.
Overall market shows negative capital flows
On Wednesday, all 12 U.S. spot Bitcoin ETFs recorded net negative capital flows, providing new evidence of a shift in investor sentiment. These products had seen relatively positive funding movements in the previous two days, but Wednesday's sharp retracement erased previous gains.
On Wednesday, every U.S. spot Bitcoin ETF experienced an outflow, bringing the total outflow to US$484.9 million. BlackRock's iShares Bitcoin Trust leads in redemptions, followed by funds owned by Fidelity, ARK21 Shares and Grayscale.
Background: Volatility returns after inflow of funds at the beginning of the week
This sharp outflow of funds occurred after the beginning of the week when Bitcoin investment products were relatively calm. On Monday, the total outflow of U.S. spot Bitcoin ETF was $89.9 million, followed by an inflow of $118.8 million on Tuesday. However, Wednesday's decline erased all previous gains.
Financial analysts pointed out that although outflows from ETFs do not necessarily mean an immediate Bitcoin sell-off in the spot market, a continued redemption trend may reduce demand, which in turn affects overall market sentiment. Industry analysts believe that continued divestment from Bitcoin ETFs may translate into weakening demand for the asset, putting additional pressure on market sentiment.
Bitcoin prices fall under macroeconomic pressure
During the same period, Bitcoin also faced a new round of selling pressure. Within 24 hours, its price fell about 1.8%, from about $85,550 on Wednesday to about $83,300, and moved closer to $82,700 at the opening of trading on Thursday.
This downward trend is closely related to the strengthening of the U.S. dollar, rising Treasury yields and growing concerns about the Federal Reserve's policy path. The latest minutes of the Federal Reserve's meeting show that policymakers have expressed concerns about inflation, and most policymakers currently expect to face the possibility of another potential rate hike before the end of 2026.
Analysts identified a price range of US$82,000 to US$83,000 as immediate support for Bitcoin. A break below this level may accelerate further declines; a rapid rebound to the US$86,500 to US$87,000 region indicates a return to buyer activity.

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