U.S. Bitcoin ETFs lose $331M

U.S. spot Bitcoin exchange-traded funds extended their losing streak on Wednesday, with about $331 million in net outflows across the group, according to market trackers compiling daily fund data. The withdrawals followed $65 million of net outflows on Monday and $145 million on Tuesday, extending a three-day run of selling in the funds. Bitcoin traded below $77,000 on Wednesday after failing to hold levels near its 200-day moving average around $82,000, FXStreet reported. Market coverage tied the move to ETF selling and broader macro pressure on risk assets. ### Which fund accounted for most of Wednesday’s withdrawals? BlackRock’s iShares Bitcoin Trust, trading under the ticker IBIT, accounted for most of the day’s outflows, with about $325.57 million leaving the fund, according to WalletPilot’s compilation of U.S. spot Bitcoin ETF data. Smaller withdrawals were listed for Fidelity’s FBTC at about $1.67 million and Valkyrie’s BRRR at about $3.79 million, while several other funds showed no daily change in the snapshot. (walletpilot.com) Farside Investors, which publishes a daily Bitcoin ETF flow table sourced from fund disclosures and market data, also listed U.S. spot Bitcoin ETF flow tracking for the group. Farside says its charts are updated automatically in real time and notes that its figures are subject to the underlying source data. ### How large is the week’s selling so far? Wednesday’s $331 million withdrawal brought the three-day total to about $541 million based on the reported Monday, Tuesday and Wednesday figures. (walletpilot.com) Other market trackers showed even deeper recent selling over a longer window. WalletPilot’s table showed seven-day net outflows of about $1.77 billion for U.S.-listed spot Bitcoin ETFs as of the May 19 market close. (farside.co.uk) MSN, citing SoSoValue data, reported that spot Bitcoin ETFs saw about $648 million in net outflows on Monday in what it described as the largest outflow in three months. Tokenist separately reported $649 million of net outflows on May 18, calling it the largest since January. Those figures point to a broader stretch of redemptions beyond the three-day sequence highlighted in Wednesday’s coverage. (walletpilot.com) ### Why did Bitcoin fall below $77,000? Bitcoin fell below $77,000 after rejecting the 200-day moving average near $82,000, according to FXStreet. The report said tightening macroeconomic conditions weighed on risk assets and added to pressure from ETF outflows. Tradingpedia also reported that global Bitcoin exchange-traded products had recorded 24,303 BTC of weekly outflows, which it described as the largest of the year and the ninth-largest five-day outflow since U.S. spot Bitcoin ETFs launched. (msn.com) Decrypt reported that crypto liquidations topped $672 million during the sell-off and cited analysts who said geopolitical shocks were now being transmitted into crypto more directly through institutional channels such as ETFs. That added another layer to the price move beyond technical selling alone. ### Where do traders look next for confirmation? (fxstreet.com) SoSoValue, Farside Investors and other ETF flow dashboards are expected to provide the next daily read on whether withdrawals continue or stabilize. CNBC reported that investors were also awaiting the Federal Reserve’s April meeting minutes on Wednesday afternoon and Nvidia’s earnings, two scheduled events that traders across risk assets were watching for direction. (sosovalue.com) (decrypt.co)