American spot-listed Bitcoin (BTC) exchange-traded funds (ETFs) have seen three consecutive days of outflow of a total of $ 494 million. Wednesday’s outflow was the largest of the three, with $ 251 million watching Blackrocks Ishares Trust (Ibit) detect an outflow of $ 22.1 million, with FIDELity Wise Origin Bitcoin Fund (FBTC), which recorded the greatest outflow of $ 102 Millions, according to Farside Data.

The outflow coincided with low volume in the ETFs, and on Wednesday a total of only $ 2.58 billion in volume. Ibit recorded less than $ 2 billion in volume, which set it as the tenth most traded US ETF, according to Coinglass Data. Ibit typically falls into the 5 most traded ETFs when Bitcoin waves or gain speed.

The lack of demand shown in recent Goldman Sachs archiving of Bitcoin ETFS shows the lack of demand for new net long positions in these ETFs, which are primarily used as trading vehicles.

Bitcoin is currently at $ 96,000, in the middle of a trade area between $ 90,000 and its highest height of $ 109,000, which began in mid -November.