BTC ETFs Face $494M in Outflows Over Three Days as Bitcoin Price Struggles to Gain Momentum.

U.S. Bitcoin ETFs Log $494M in Outflows Over Three Days as BTC Consolidates

Bitcoin (BTC) continues to trade within a well-defined range since mid-November, while U.S. spot bitcoin exchange-traded funds (ETFs) have now recorded three consecutive days of outflows totaling $494 million.

Wednesday saw the heaviest outflows of the period, with $251 million exiting bitcoin ETFs. Fidelity’s Wise Origin Bitcoin Fund (FBTC) led the decline with $102 million in redemptions, while BlackRock’s iShares Bitcoin Trust (IBIT) saw $22.1 million in outflows, according to Farside data.

Trading volumes within these ETFs have also remained muted, with Wednesday’s total ETF volume reaching just $2.58 billion. IBIT, which typically ranks among the most actively traded ETFs during BTC rallies, saw its volume dip below $2 billion, placing it tenth among U.S. ETFs, per Coinglass data.

The latest 13F filing from Goldman Sachs further underscores the cautious sentiment among investors, as demand for net long positions in bitcoin ETFs remains tepid.

At press time, bitcoin is trading at $96,000, staying within the $90,000 to $109,000 range that has defined its price action since mid-November.