U.S. spot Bitcoin exchange-traded funds (ETFs) recorded $127 million in net outflows on Tuesday, marking the largest single-day withdrawal since Aug. 6. The outflow ended an eight-day streak of positive inflows totalling $756 million.<\/p>\n
On Tuesday, the Bitcoin ETF<\/a> offering from Ark Invest saw the biggest outflow, at $102 million. Grayscale’s Bitcoin Trust and Bitwise’s Bitcoin ETF also posted net outflows of $18 million and $7 million, respectively.<\/p>\n BlackRock’s<\/a> Bitcoin ETF saw no inflows after a $224 million inflow on Monday<\/a>, its largest in over a month, while Fidelity’s and other Bitcoin ETFs also saw no changes in inflows or outflows.<\/p>\n The largest contributor to yesterday’s outflows seems to have been investors’ profit-taking after Bitcoin surged past $60,000 early this week. Since then, Bitcoin has pulled back around 10% below $60,000 upon this news.<\/p>\n The ETF outflows came as leading financial institutions expanded their bitcoin product offerings. On Tuesday, CME Group launched a new Bitcoin futures contract aimed at retail traders. Nasdaq also filed<\/a> for regulatory approval of Bitcoin index options.<\/p>\n