Well, it looks like the music is slowing down a bit for spot Bitcoin ETFs in the U.S.
On Monday, these funds experienced a setback, with nearl $438.4 million** flowing out, ending a five-day streak of net inflows that had brought in almost $3.4 billion.
The biggest hit
Seven Bitcoin ETFs reported net outflows on Monday, with Bitwise’s BITB leading the charge, suffering over $280 million in losses.
Grayscale’s GBTC wasn’t far behind, with $158.2 million in outflows. Fidelity’s FBTC also took a hit, losing $134.7 million, while Ark and 21Shares’ ARKB logged outflows of $110.9 million.
Even spot Bitcoin funds from Invesco, Valkyrie, and VanEck joined the negative trend.
Only two spot Bitcoin ETFs saw some positive action. One of them is of course BlackRock’s IBIT, which is the largest spot Bitcoin ETF with a nice $31.6 billion in cumulative inflows, managed to pull in $267.8 million. Grayscale’s Mini Bitcoin Trust also reported modest inflows of $420,460.
Trading volume
On Monday, the 12 Bitcoin ETFs traded a total of $5.6 billion, a slight increase from $5.4 billion last Friday.
Their cumulative total net inflow now stands at $30.4 billion, with total net assets worth about $102.2 billion. Not bad, after all.
Bitcoin itself has taken a bit of a dip, dropping to around $94,500 in the time of writing after flirting with the $100,000 level last week.
Ethereum ETFs keep it steady
On the other hand, spot Ethereum ETFs in the U.S. managed to see some modest inflows of $2.8 million on Monday.
Funds from Bitwise, Fidelity, and VanEck reported net inflows, while 21Shares’ fund and Grayscale’s two ETFs experienced outflows.
The total trading volume for the nine Ethereum funds reached $711.2 million, up from $373.9 million last Friday, bringing their cumulative flow total to $109 million.
