Spot Bitcoin ETFs post $79M net outflows after 7-day inflow streak

Spot Bitcoin (CRYPTO:BTC) exchange-traded funds (ETFs) in the U.S. experienced a shift back to negative daily flows on Tuesday, recording $79 million in net outflows. 

This development comes after seven consecutive days of total net inflows, during which the funds amassed over $2.67 billion, according to SoSoValue data.

The 12 spot Bitcoin ETFs saw a combined outflow primarily driven by Ark and 21Shares’ ARKB fund, which reported $134.74 million in net outflows. 

However, BlackRock’s IBIT fund, the largest spot Bitcoin ETF by net assets, continued to draw in $42.98 million in net inflows. 

Fidelity’s FBTC also saw an increase of $8.85 million, and VanEck’s HODL fund reported $3.82 million in net inflows. 

In contrast, the eight remaining funds, including Grayscale’s GBTC, reported no flows on Tuesday.

Despite the outflows, the cumulative net inflows for the 12 ETFs remain substantial, totaling $21.15 billion as of Tuesday. 

However, the daily trading volume for these ETFs decreased to $1.4 billion from $1.76 billion on Monday.

The negative flows came after a significant inflow streak in which BlackRock’s IBIT alone garnered approximately $1.5 billion. 

This period of heavy inflows also coincided with a rally in Bitcoin’s price, which briefly reached above $69,400 on Monday.

Spot Ether (CRYPTO:ETH) ETFs, on the other hand, reported more modest activity on Tuesday, with total net inflows of $11.94 million contributed solely by BlackRock’s ETHA fund. 

The eight other Ether funds reported zero flows. 

The trading volume for spot Ether ETFs was $118.4 million on Tuesday, down from $163.18 million on Monday. 

These funds have seen cumulative net outflows of $488.85 million since their launch.

At the time of writing, the Bitcoin price was $67,086.12.