Spot Bitcoin (BTC) exchange-traded funds have experienced their biggest outflow of investor capital in four months as cryptocurrency prices continue to slump.
More than $287 million U.S. was withdrawn from the dozen U.S.-listed Bitcoin ETFs on Sept. 3, the biggest one-day for outflows since May 1 of this year, according to market data.
Fidelity experienced the biggest redemptions, with investors selling $162 million U.S. worth of shares in its spot Bitcoin fund.
Grayscale saw capital outflows of $50 million U.S. and Ark Invest experienced $33.6 million U.S. of outflows on the day.
Analysts say investors are souring on Bitcoin ETFs as prices for cryptocurrencies continue to decline.
Bitcoin is now trading at $56,700 U.S., down nearly 25% from an all-time high of just under $74,000 U.S. reached in March of this year.
Spot Bitcoin ETFs traded in the U.S. now hold a total of $52.60 billion U.S. in assets under management, down from a peak of more than $60 billion U.S. in May of this year.
