$746M Pulls Out of Spot Bitcoin ETFs in Two Days as BTC Holds Near $76K

US spot Bitcoin exchange-traded funds extended their losing streak on Wednesday as markets reacted to a Federal Reserve rate hike and ongoing uncertainty over US crypto regulation. Net outflows totaled $295.9 million on Sept. 16, according to Farside Investors. BlackRock's iShares Bitcoin Trust (IBIT) saw the largest redemptions at $144.1 million. ARK 21Shares Bitcoin ETF (ARKB) recorded $84.4 million in outflows, Fidelity's FBTC lost $52.7 million, and Grayscale's GBTC shed $18.2 million. Morgan Stanley's MSBT was the only spot fund to post an inflow, adding $3.5 million. The latest withdrawals follow Tuesday's larger $450.4 million outflow, bringing total net redemptions over the past two sessions to $746.3 million. Even so, US spot Bitcoin ETFs have accumulated about $54.64 billion in net inflows since launch. Bitcoin held up despite the ETF selling. BTC started the latest 24-hour period near $75,850, briefly dipped toward $75,350, then rebounded to roughly $76,600 before trading around $76,400''$76,500. Macro conditions remain less supportive. The Fed increased rates by 25 basis points on Wednesday, lifting the target range to 3.75%''4.00% in its first hike since 2023, and signaled another increase could arrive before year-end. Higher rates typically pressure Bitcoin and other risk assets by boosting returns on lower-risk alternatives and supporting the dollar. Crypto markets are also digesting the US Senate's failure to advance the CLARITY Act after a 49''50 procedural vote, short of the 60 votes needed. Bitcoin's move back toward $76,500 while nearly $750 million exited spot ETFs over two sessions suggests near-term selling is being absorbed, but ETF flow trends, rate expectations, and US crypto legislation remain key drivers.