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Investors pulled a net $218 million from US Bitcoin exchange-traded funds, one of their worst daily outflows as demand for risky investments takes a knock from fading hopes for Federal Reserve interest-rate cuts.
Thursday’s figure encompasses a $23 million drawdown for the Fidelity Wise Origin Bitcoin Fund, the first since the product began trading on Jan. 11 along with a batch of peers such as BlackRock Inc.’s iShares Bitcoin Trust.
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