Bitcoin ETFs See $635.6 Million in Outflows Following Oil Price Spike

U.S. investors withdrew $635.6 million from spot bitcoin exchange-traded funds on Thursday after oil prices surged following Houthi attacks on Saudi Arabia. BlackRock's iShares Bitcoin Trust experienced the largest outflows at $254 million, followed by Fidelity's Wise Origin Bitcoin Fund with $218 million. The sell-off was driven by risk-off sentiment and concerns over potential U.S. interest rate hikes due to higher energy costs.