US Spot Bitcoin ETFs Ended Record 19-Day Inflow Streak Following $65M Outflow

US Spot Bitcoin ETFs End 19-Day Record Inflow Streak After $65 Million Outflow

11 US spot Bitcoin exchange-traded funds (ETFs) recorded net outflows of $64.93 million on Monday. This marked the end of a 19-day streak of historical entries in which daily trading was consistent. Grayscale’s GBTC led the outflows this week, with investors withdrawing $40 million. This trend was echoed in other funds; Invesco and Galaxy Digital’s BTCO saw net outflows of $20 million, while Valkyrie’s bitcoin ETF reported redemptions of $16 million. Fidelity’s FBTC, which has experienced positive flows since May 2, experienced a net outflow of $3 million.

Despite the general trend, redemptions were not observed in all funds. BlackRock’s IBIT, the largest spot Bitcoin ETF by net assets, recorded net inflows of $6 million. Similarly, Bitwise’s BITB also saw $8 million in new investment, indicating continued confidence in the market. The 19-day record inflow series ended last Friday, resulting in a net inflow of over $4 billion. Since their launch in January, the 11 spot Bitcoin ETFs have collectively attracted $15.62 billion in net investments.

The recent outflows come amid a decline in the price of Bitcoin, which fell following the release of conflicting US non-farm payrolls and unemployment data. As crypto trading firm QCP Capital noted, mixed economic signals have created uncertainty and caused investors to move away from risky assets. CME Group estimates the probability at 99.4% that the Federal Reserve will maintain its current interest rate of between 5.25% and 5.50%.

While Bitcoin ETFs are gaining a lot of attention, spot Ethereum ETF issuers in the US are also awaiting feedback from the Securities and Exchange Commission (SEC) on the S-1 registration statements they filed late last month. Approval of these forms is required for the official launch of spot ether ETFs.