Spot Bitcoin ETFs See Outflow After 12-Day Inflow Streak

Bitcoin ETFs Experience Significant Outflows

Spot Bitcoin exchange-traded funds (ETFs) saw a net outflow of $131.35 million on Monday, marking the end of a 12-day streak of inflows that totaled $6.6 billion. The largest outflow came from ARK Invest’s ARKB, which lost $77.46 million in a single day. Grayscale’s GBTC and Fidelity’s FBTC also experienced notable outflows. Despite the recent outflow, cumulative net inflows for Bitcoin ETFs remain strong at $54.62 billion.

Investors Lock in Gains

According to Vincent Liu, chief investment officer at Kronos Research, the outflows are likely due to investors and institutions taking profits and managing risk. Liu explained that the recent outflows are a normal correction following a period of significant price increases and not a sign of fear among large holders. He described it as a natural pause after a strong upward trend in Bitcoin.

Ether ETFs Continue Inflow Streak

While Bitcoin ETFs saw outflows, spot Ether (ETH) ETFs continued their impressive streak of inflows, reaching $296.59 million on Monday. This extends the cumulative total net inflow for Ether ETFs to $7.78 billion. The current streak has now reached 12 consecutive days, with record-breaking inflows reported for Ethereum ETFs earlier in the week.

Overall, the recent outflows from Bitcoin ETFs and continued inflows for Ether ETFs indicate ongoing interest and activity in the cryptocurrency market. Investors are actively managing their positions and taking advantage of price fluctuations to optimize their returns.