US spot Bitcoin funds recorded a net $450.4 million withdrawal on Tuesday, the largest single-day outflow since June 24, reversing a $159.9 million inflow from the prior session. The sell-down coincided with a 2.5 percent drop in Bitcoin to $75,700 and the failure of the CLARITY Act to advance in the Senate, removing a near-term legislative catalyst that market participants had been pricing.
Fidelity and BlackRock lead the exit
Fidelity’s FBTC accounted for nearly half the total, shedding $214.8 million, while BlackRock’s iShares Bitcoin Trust followed with $161.7 million in redemptions. Grayscale’s GBTC lost $44.1 million, ARK 21Shares’ ARKB saw $17.4 million leave, and Bitwise’s BITB recorded $12.4 million in outflows. The concentration in the two largest funds suggests institutional allocators, not retail holders, drove the move.
June comparison frames the scale
The last time flows turned this negative was June 24, when a broad technology sell-off dragged Bitcoin ETFs to a $469 million outflow. Tuesday’s figure is only marginally smaller, yet the macro backdrop differs: equity markets were not in a risk-off spiral, leaving the legislative setback as the most visible trigger. Whether the outflow reflects a tactical repositioning or a reassessment of the regulatory timeline remains an open question.
What to watch next
The CLARITY Act’s stall pushes the next meaningful policy window into the lame-duck session or the new Congress, a timeline that introduces fresh uncertainty for custodians and issuers. Flow data for the remainder of the week will show if Tuesday was a one-day event or the start of a sustained reversal. Until then, the $75,700 level and the Senate calendar are the two markers that matter.