Bitcoin ETFs see $490 million outflow over three days
U.S. spot Bitcoin ETFs have experienced outflows for the third consecutive day. More than $490 million has been withdrawn from the funds amid growing macroeconomic uncertainty and investor caution.
Highlights
- Bitcoin ETFs recorded outflows for three straight days totaling over $490 million.
- Fidelity’s FBTC and BlackRock’s IBIT led the withdrawals.
- The funds had attracted more than $2.11 billion in the prior nine days.
Scale of the outflows
According to CoinPedia, on Monday, April 27, the Bitcoin ETFs recorded a net outflow of $263.2 million—the largest single-day withdrawal of the week. Tuesday saw a further $89.7 million leave the funds, followed by an additional $137.6 million outflow on Wednesday, the day of the Federal Reserve’s interest rate decision.
Fidelity’s FBTC led the redemptions with $191.5 million, followed by BlackRock’s IBIT, which saw $166.9 million leave. ARK Invest’s ARKB recorded an outflow of $73.3 million. In total, the three-day streak has resulted in more than $490 million pulled from Bitcoin ETFs.
Recent context
The withdrawals come after nine consecutive days of inflows totaling over $2.11 billion.
Bitcoin’s price reacted by falling around 3% and is currently trading near $76,159.
Analysts note that sustained outflows could push the cryptocurrency back toward the key support level of $74,000.
Market implications
The sharp reversal in ETF flows signals diminishing institutional confidence after a strong inflow period.
If the trend continues, it could put additional downward pressure on Bitcoin and slow the broader crypto market recovery.
As previously covered, Bitcoin poised for a strong May despite a cautious month-end.
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