U.S. spot-listed Bitcoin ETFs have experienced three consecutive days of outflows amounting to $494 million, with the largest outflow occurring on Wednesday at $251 million. BlackRock's iShares Trust (IBIT) saw a $22.1 million outflow, while Fidelity Wise Origin Bitcoin Fund (FBTC) recorded a $102 million outflow. This trend of outflows coincides with low trading volumes, with total ETF volume recorded at $2.58 billion on Wednesday, of which IBIT saw less than $2 billion, making it the tenth most traded U.S. ETF rather than its usual position within the top 5 when Bitcoin prices are rising. The current Bitcoin price stands at $96,000, trapped in a trading range that has held since mid-November, between $90,000 and its all-time high of $109,000. This situation illustrates the lack of demand for new net long positions in these ETFs, primarily used as trading vehicles.

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