Bitcoin ETFs See $470M in Outflows as BTC Price Dips Below $110K

US-listed spot Bitcoin ETFs saw a sharp reversal on Wednesday, shedding nearly $470 million in a single day, according to data from SoSoValue. The pullback coincided with Bitcoin’s brief drop below $110,000, before the cryptocurrency recovered part of its losses later in the day.

Fidelity’s FBTC led the day’s outflows with $164 million, followed by ARK Invest’s ARKB, which saw $143 million withdrawn. BlackRock’s IBIT reported another $88 million in redemptions, rounding out the top three. Grayscale’s GBTC registered $65 million in outflows, while Bitwise’s BITB saw a modest $6 million leave the fund.

The withdrawals mark a sharp contrast to earlier in the week, when Bitcoin ETFs collectively gained more than $350 million in inflows over Monday and Tuesday. Total cumulative net inflows have now declined to $61 billion, while assets under management (AUM) across Bitcoin ETFs dropped to $149 billion.

Analysts say the move may reflect short-term profit-taking after recent price gains, as well as macroeconomic uncertainty following the Federal Reserve’s latest policy shift.

Bitcoin Struggles Despite Rate Cut

Bitcoin prices have fluctuated between $108,201 and $113,567 in the past 24 hours, according to CoinGecko. The cryptocurrency fell despite the US Federal Reserve’s 25-basis-point rate cut, which typically boosts risk assets. 

However, optimism returned slightly after a meeting between US President Donald Trump and Chinese President Xi Jinping, where both leaders reportedly discussed easing trade tensions, a development that offered mild relief to global markets.

In previous cycles, analysts have noted a strong correlation between ETF inflows and Bitcoin price rallies. Large inflows in early October, for instance, were seen as a key driver behind Bitcoin’s sharp rise at the time.

ETFs Still Dominate Bitcoin Holdings

Despite the recent outflows, Bitcoin ETFs continue to hold a significant share of total BTC supply. Data from Bitbo shows that ETFs collectively own over 1.5 million Bitcoin, valued at approximately $169 billion — or 7.3% of all coins in circulation.

BlackRock’s IBIT remains the largest holder with 805,239 Bitcoin, followed by Fidelity’s FBTC with 206,258 BTC, and Grayscale’s GBTC with 172,122 BTC.

Meanwhile, MicroStrategy Chairman Michael Saylor remains bullish despite short-term volatility. Earlier this week, he reaffirmed his long-term outlook, predicting that Bitcoin could reach $150,000 by the end of 2025, citing growing institutional adoption and improving global market sentiment.