Spot bitcoin ETFs snap brief inflow streak as GBTC outflows overpower

Spot bitcoin exchange-traded funds listed in the United States saw total net outflows of $15.64 million yesterday, according to data from SoSo Value — snapping a brief two-day streak of inflows and resuming a recent trend of outflows.

Grayscale's converted Bitcoin BTC -2.66% Trust was again the primary culprit, with $29 million flowing out of GBTC yesterday. It had previously recorded two consecutive days of net inflows after ending a 78-day streak of outflows last week.

Every other spot bitcoin ETF had either positive net inflows or no net flows. The Fidelity Wise Origin Bitcoin Fund had a net inflow of $4 million, while the ARK 21Shares Bitcoin ETF and Invesco Galaxy Bitcoin ETF brought in $3 million and $6 million, respectively.

Cumulative total net inflows into U.S.-listed spot bitcoin ETFs since their listing has decreased to $11.76 billion.

 

Overall, the spot bitcoin ETF market has cooled off after its post-listings fervor, with volumes steadily trending downward since peaking on March 5, according to The Block's data. Cumulative volume is approaching $250 billion.