PNC Bank has significantly increased its investment in Bitcoin exchange-traded funds (ETFs), with its holdings rising from $10 million to $67 million. However, spot Bitcoin ETFs in the U.S. experienced net outflows on Feb. 6, with $140.3 million withdrawn from 12 Bitcoin ETFs. Fidelity's FBTC led the redemptions, while Bitwise's BITB was the only fund to attract new investments. Despite the outflows, trading volume for the ETFs increased. The outflows coincided with selling pressure on Bitcoin and other digital assets due to a strong private payroll data report, which may impact the Federal Reserve's stance on interest rates.



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