Spot bitcoin ETFs shift to negative flows after 7-day inflow run

Spot bitcoin exchange-traded funds in the U.S. shifted back to negative daily flows on Tuesday after seven consecutive trading days of total net inflows.

According to data from SoSoValue, the 12 spot bitcoin ETFs reported total net outflows of $79.09 million. The day’s entire outflows came from Ark and 21Shares’ ARKB, which saw $134.74 million leave the fund.

BlackRock’s IBIT, the largest spot bitcoin ETF by net assets, recorded $42.98 million in net inflows, while Fidelity’s FBTC logged inflows of $8.85 million on Tuesday. VanEck’s HODL also had $3.82 million in net inflows. The eight other funds, including Grayscale’s GBTC, posted zero flows for the day. 

The $79 million net outflows brought the 12 ETFs’ cumulative net inflows down to $21.15 billion on Tuesday. The total daily trading volume for these ETFs shrank to $1.4 billion yesterday, from $1.76 billion on Monday.

Tuesday’s net outflows came after the U.S. spot bitcoin ETFs drew in over $2.67 billion during their seven-day inflow streak, comparable to levels seen at the funds’ peak in March. BlackRock’s IBIT alone drew in about $1.5 billion during the period. The significant amount of inflows also coincided with bitcoin’s rally, which reached above $69,400 on Monday.

Spot Ether ETFs saw modest inflows

Meanwhile, spot ether ETFs in the U.S. reported net inflows of $11.94 million on Tuesday, entirely contributed by BlackRock’s ETHA. The eight other ether funds logged zero flows.

The spot ether ETFs traded a total of $118.4 million yesterday, compared to $163.18 million on Monday. Since their launch, these funds have experienced cumulative net outflows of $488.85 million.

Bitcoin fell 0.38% in the past 24 hours to change hands at $67,038, according to The Block’s crypto price page. Ether lost 0.99% to trade at $2,611.