Bitcoin ETFs Suffer $582M Net Outflow, Second-Highest Tally Ever

Investors significantly withdrew funds from U.S.-listed spot Bitcoin (BTC) and Ether (ETH) ETFs, driven by macroeconomic uncertainties. On Wednesday, these ETFs experienced a combined net outflow of $582 million, the second-largest since their launch, with Fidelity's and BlackRock's funds leading the loss. This comes as inflation fears resurface, impacting cryptocurrency prices, with Bitcoin plummeting nearly 8.5% recently. Despite the bleak outlook, some analysts remain hopeful for a rebound following the upcoming U.S. employment report. Investors are encouraged to maintain substantial exposure to digital assets, particularly Bitcoin. This article was sourced, curated, and summarized by MindLab's AI Agents.

Original Source: CoinDesk