US Bitcoin ETFs See $20.45M Outflow: Nine Funds Remain Flat

The US spot Bitcoin ETFs experienced a net outflow of $20.45 million on Wednesday. Interestingly, only two of them showed activity amid market uncertainty.

The recent price decline occurred after Germany’s government moved another batch of confiscated Bitcoin tokens. According to Arkham Intelligence, about $1,300 BTC, worth close to $76 million, was sent to three major exchanges – Kraken, Bitstamp, and Coinbase. An additional $99 million worth of Bitcoin was moved to a separate address identified as 139Po.

This activity indicated that these entities are taking profits. Furthermore, the timing of this move following Bitcoin’s recent price drop suggests it may be a risk mitigation strategy, likely aimed at reducing their Bitcoin holdings., Bitfinex’s Head of Derivatives, Jag Kooner, said that an increase in ETF inflows could occur if market participants believe that “economic uncertainty will drive the Fed towards eventual rate cuts, enhancing the appeal of Bitcoin as an inflation hedge.

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