The $450 million withdrawal came as Bitcoin fell 2.5% and the CLARITY Act failed to advance in the Senate, with Fidelity and BlackRock funds leading the outflows.
Spot Bitcoin exchange-traded funds recorded their largest day of outflows since late June after a major crypto bill stalled in the Senate.
The 13 US-listed funds saw a net $450.4 million outflow on Tuesday, after attracting $159.9 million on Monday, according to data from Farside. It marks the largest outflow since June 24, when Bitcoin ETFs lost $469 million as a tech stock sell-off pressured risk assets.
Data shows Fidelity’s FBTC saw the biggest outflows, shedding $214.8 million, followed by $161.7 million from the BlackRock iShares Bitcoin Trust, $44.1 million from Grayscale’s Bitcoin Trust ETF (GBTC), $17.4 million from ARK 21Shares Bitcoin ETF (ARKB) and $12.4 million from Bitwise Bitcoin ETF (BITB).
Bitcoin is trading at $75,700, down 2.5% over the last 24 hours at the time of writing, according to CoinMarketCap.
Related: Crypto industry turns to US regulators after CLARITY setback