Bitcoin and ether exchange-traded funds (ETFs) experienced significant outflows on Wednesday, with bitcoin ETFs losing a combined $582 million, the second-highest tally since their inception. Fidelity’s FBTC led the outflows with a record $258 million, while BlackRock’s IBIT saw $124 million exit. Ether ETFs also bled $159.3 million, the largest since July 26. These outflows coincide with renewed U.S. inflation fears, which have caused bond market volatility and sent risk assets lower. Over the past three days, bitcoin’s price has dropped nearly 8.5%, failing to establish a foothold above $100,000. Federal Reserve minutes from December 18 revealed concerns about the inflationary impact of incoming policies. Despite this, some analysts remain optimistic, expecting a market upswing following Friday’s nonfarm payrolls report.
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