The 13 US-listed spot Bitcoin exchange-traded funds recorded a net outflow of $450.4 million on Tuesday. This movement follows a net inflow of $159.9 million observed on Monday, according to Farside data.
The current decline represents the largest single-day outflow since June 24, when Bitcoin ETFs saw a reduction of $469 million. The market activity coincides with a 2.5% drop in the price of Bitcoin, which is trading at $75,700.
Fidelity’s FBTC fund led the outflows with $214.8 million, followed by the BlackRock iShares Bitcoin Trust at $161.7 million. Other funds including Grayscale’s GBTC, ARK 21Shares’ ARKB, and Bitwise’s BITB reported outflows of $44.1 million, $17.4 million, and $12.4 million respectively.
Market analysts link the negative trend to the failure of the CLARITY Act to advance in the US Senate. This legislative stall has contributed to the recent volatility in the crypto asset space.
