Bitcoin ETFs Experience Largest Outflow Since June After Clarity Act Vote Fails
U.S. spot Bitcoin ETFs experienced a significant outflow of $450.4 million on Tuesday, marking their worst single-day loss since June 24, according to Decrypt's tracker. Ethereum and XRP ETFs also saw substantial withdrawals, with combined losses nearing $600 million. Fidelity’s FBTC led the exodus with over $214 million in outflows, followed by BlackRock’s IBIT which lost nearly $162 million. The decline was attributed to a failed Senate vote on the Digital Asset Market Clarity Act, which aimed to establish regulatory clarity for crypto trading. The bill fell short of cloture with 49 votes against and 50 in favor. Without this framework, institutional investors may remain hesitant due to legal uncertainties surrounding digital assets. While the failure is a setback, it does not necessarily spell defeat for the Clarity Act as Congress still has time before midterms begin. The SEC and CFTC’s ongoing rulemaking process now serves as an alternative regulatory path forward.
Tickers: $BLK $FBTC $GBTC $IBIT