Bitcoin ETFs Are Hit by a Record $1 Billion Outflow in One Day

Investors yanked more than $1 billion from spot Bitcoin exchange-traded funds Tuesday, marking the biggest one-day outflow since the cohort’s debut last January.

Fidelity Wise Origin Bitcoin Fund (ticker FBTC) posted the steepest outflows among these funds, followed by the iShares Bitcoin Trust ETF (IBIT), according to data compiled by Bloomberg. That’s as Bitcoin’s price has been faltering, with investors shunning riskier assets in the face of uncertainty. As a group, the Bitcoin funds shed roughly $2.1 billion over six consecutive days — the longest stretch of outflows since last June.

The world’s largest digital asset has ...