Bitcoin (BTC) U.S. ETFs Bleed Over Half a Billion Dollars Despite Fed Chair Jerome Powell Ruling Out Rate Hike

On Wednesday, GBTC witnessed the second-largest outflow of $167.4 million, adopted by ARKB’s $98.1 million and IBIT’s $36.9 million. Different funds additionally bled cash although Powell’s net-dovish strategy put a ground underneath danger belongings, together with bitcoin. A dovish stance is one the place the central financial institution prefers employment and financial overgrowth over extreme liquidity tightening.